What is a simple explanation of Guaranteed Benefits?

What should I look for in a Universal Life Insurance plan?

What is a simple explanation of Guaranteed Benefits?

Cash money worth is a living advantage that stays with the insurance coverage business when the insured passes away. Any outstanding lendings against the cash money value will lower the plan's survivor benefit. Mortgage protection. The policy owner and the guaranteed are typically the same individual, yet sometimes they may be different. As an example, a company could get essential person insurance on an important staff member such as a CHIEF EXECUTIVE OFFICER, or a guaranteed might market their very own plan to a 3rd party for cash in a life negotiation.