National Western Life Insurance offers a variety of life insurance policies to help clients protect the interests of their loved ones once the client passes. National Western Life Insurance offers term as well as permanent life insurance.
As its name indicates, permanent life insurance offers coverage for as long as premium payments are current. There are a number of ways in which a policy can do this, and those ways vary based on the type of policy. Whole life insurance, for example, charges consistent premiums in exchange for a stable death benefit and a cash value that accumulates over time. Policy holders can withdraw from this amount, though any borrowed funds not repaid will reduce death benefit by that amount.
Universal life insurance, also known as an adjustable policy, also offers a death benefit and cash value, though the policy holder may be able to change the death benefit. Relatedly, he or she may be able to reduce premium payments provided that there is sufficient cash funds in the account to cover the change.
