Wealth Management Hong Kong
1075 Central Building 1-3 Pedder Street Central Hong Kong
Hong Kong 
info@wealthmanagementhongkong.info

Life Insurance Hong Kong

Hong Kong Universal Life Insurance

Universal Life Insurance Quotations

 

Compare Find And Buy The Best Low Cost Affordable Life Insurance And Critical Illness Plans In Hong Kong

Discover The Difference

Compare Find And Buy The Best Low Cost Affordable Universal Life Insurance Cover Comparison In Hong Kong 

Here at Private Wealth Management Hong Kong we have the reputation of putting our clients’ interests first and above everything else.

This site is designed with our clients and our reputation in mind.

Compare Find And Buy The Best Low Cost Affordable Universal Life Insurance Comparison In Hong Kong

Here you can Compare, Find, and Buy The Best Low Cost Affordable Priced Comparison Universal Life Insurance Plans with worldwide cover.

You can now be assured that we are going to work very hard for you in finding the Best Universal Life Insurance Plans for you at the Lowest Affordable Cost.

In addition we only recommend and work with the Top Life Companies Worldwide as this also ensures that we provide the Best Universal Life Insurance Plans for our clients.

Why don’t you go ahead and get in touch with us today and put us to the test.

Universal Life Insurance

Universal Life Insurance is a type of permanent life insurance, an alternative being Whole Of Life Insurance.

Under the terms of the policy, the excess of premium payments above the current cost of insurance is credited to the cash value of the policy.

The cash value is credited each month with interest, and the policy is debited each month by a cost of insurance (COI) charge, as well as any other policy charges and fees which are drawn from the cash value, even if no premium payment is made that month.

Interest credited to the account is determined by the insurer, but has a contractual minimum rate (for example 2%).

Typically these types of policies offer the advantage of guaranteed level premiums throughout the policy.

When To Consider Universal Life Insurance

Universal Life insurance can be used as a substitute and in similar circumstances to a Whole of Life policy for example:

  1. Final Expenses, such as a funeral, burial, and unpaid medical bills
  2. Income Replacement, to provide for surviving spouses and dependent children
  3. Debt Insurance, to pay off personal and business debts, such as a home mortgage or business operating loan
  4. Estate Liquidity, when an estate has an immediate need for cash to settle federal estate taxes, state inheritance taxes, or unpaid income taxes on income in respect of a decedent (IRD).
  5. Estate Replacement, when an insured has donated assets to a charity and wants to replace the value with cash death benefits.

Business Succession and Continuity

  1. Key Person Insurance
  2. Cross Purchase Buy Sell Agreements

Whole life insurance alternative, where there is any need for permanent death benefits, but little or no need for cash surrender values.

Universal Life Insurance

Many people use life insurance, and in particular cash value life insurance, as a source of benefits to the owner of the policy (as opposed to the death benefit which provides benefit to the beneficiary). These benefits include loans, withdrawals, collateral assignments, split dollar agreements, pension funding, and tax planning.

Universal Life Insurance Loans

Most universal life policies come with an option to take a loan on certain values associated with the policy. These loans require interest payments which are paid to the insurance company.

Outstanding loans will be deducted from the death benefit at the death of the insured.

Universal Life Insurance Withdrawals

Most universal life policies come with an option to withdraw cash values rather than take a loan.

However withdrawals will affect the long-term viability of the plan. The cash values removed by loan are no longer earning the interest expected, so the cash values will not grow as expected.

Contribution Types For Universal Life Insurance
Universal Life Insurance Single Premium

A Single Premium Universal Life Insurance is paid for by a single, substantial, initial payment.

Universal Life Insurance Fixed Premium

Fixed Premium Universal Life Insurance is paid for by periodic premium payments associated with a no lapse guarantee in the policy. Generally these payments will be for a shorter period of time than the policy is in force; for example payments may be made for 10 years, with the intention that thereafter the policy is paid-up. But it can also be permanent fixed payment for the life of policy.

Universal Life Insurance Flexible Premium

Flexible Premium Universal Life Insurance allows the policyholder to vary their premiums within certain limits.

Typically Universal Life Insurance policies are flexible premium, but each variation in payment has a long-term effect that must be considered. In order to remain active, the policy must have sufficient available cash value to pay for the cost of insurance. Higher than expected payments could be required if the policyholder has skipped payments or has been paying less than originally planned. It is recommended that yearly illustrative projections be requested from the insurer so that future payments and outcomes can be planned.

Compare Find And Buy The Best Low Cost Affordable Life Insurance And Critical Illness Insurance Plans In Hong Kong

Discover The Difference

 

Lets Get In Touch

Compare Find Comparisons And Buy The Best Low Cost Affordable Priced Life Insurance Critical Illness Insurance and Health Insurance In Hong Kong

Discover the difference...

Enquiry

5 + 7 =

We respect your privacy and take protecting it very seriously, click the following link to view our Privacy Policy

We Live In Hong Kong You Can Find Us Here

 

We Live In Hong Kong Find Us Here

We Live In Hong Kong Find Us Here

BMP Wealth

1075 Central Building

1-3 Pedder Street

Central

Hong Kong

Looking For The Best Life Insurance In Hong Kong

Discover The Difference

Pin It on Pinterest

Share This

Please Share This

Please share this post with your friends - Thank You!