The benefits of purchasing whole life insurance from National Life Group include guaranteed death benefits and cash values, fixed level premiums, and possible dividend payments, explains the company's official website. National Life Group also offers universal life insurance, which provides flexible death benefits and premiums along with policy cash values.
National Life Group features different types of permanent life insurance, which involves death benefits and the possibility of accessing policy cash values through withdrawals and policy loans, notes National Life. Permanent life insurance policyholders have the option to decrease or skip premium payments as well as adjust their death benefits according to their changing needs.
Whole life insurance is a good choice for people who desire guaranteed benefits and prefer death benefits over cash value buildup, reports National Life Group. In comparison, universal life insurance suits individuals who want fixed, minimum interest rates and potential extra interest credits.
Indexed universal life insurance features flexible death benefits and premiums as well as cash values that increase depending on changes in a particular market index, according to the company's website. The policy also offers downside protection, ensuring that the cash values of policyholders do not decrease when the market index declines. This type of insurance is suitable for consumers who prefer the accumulation of cash values to supplement their retirement incomes and support other lifetime needs.