hey guys,
i recently got in touch with an agent about life insurance. told him i wanted a 30 year term. he said ok..we talk for a while and he said he was sending me out the application for the term life insurance. i get it in the mail i take a look at it and it read that it is a " term UL 30 policy" but is was designed to meet the needs of a term life insurance purchasers. is this really a universal life policy in disguise? he tells me its a term life insurance but the description reads" this is not a term life, single premium, level-premium or vanishing premium is universal life insurance a type of term life insurance? it talks of policy loans and withdrawals but i don't think term life insurance policies can do that? what should i do?
i recently got in touch with an agent about life insurance. told him i wanted a 30 year term. he said ok..we talk for a while and he said he was sending me out the application for the term life insurance. i get it in the mail i take a look at it and it read that it is a " term UL 30 policy" but is was designed to meet the needs of a term life insurance purchasers. is this really a universal life policy in disguise? he tells me its a term life insurance but the description reads" this is not a term life, single premium, level-premium or vanishing premium is universal life insurance a type of term life insurance? it talks of policy loans and withdrawals but i don't think term life insurance policies can do that? what should i do?