Welcome to No Exam Life Insurance Michigan

Readers Question: “What Is An Adjustable Benefit Life Insurance in Battle Creek, Michigan mean?”

Battle Creek is a city in the U.S. state of Michigan, in northwest Calhoun County, at the confluence of the Kalamazoo and Battle Creek River. It is the principal city of the Battle Creek, Michigan Metropolitan Area which encompasses all of Calhoun county. Battle Creek is known as the “Cereal City” is the world headquarters of Kellogg Company, founded by brothers, Dr. John Harvey Kellogg and William Keith Kellogg, who invented cold breakfast cereal as an alternative to the traditional meat based breakfast. It is also the home of Post Cereals, which was part of General Foods Corporation and is now part of Kraft Foods.

Answer to Readers Question: Universal Life Insurance is a flexible-premium, adjustable benefit life insurance policy that accumulates account value. The flexibility of this policy allows you to change the amount of insurance as your needs for insurance change. Universal means permanent insurance and therefore it not only provides for your family in the event of your death , but has the potential to accumulate cash value as well. A universal policy provides more investment value than term life , and more flexibility and control than whole life. Universal life insurance is also called adjustable life insurance. Remember that, with permanent life insurance, some of your premium is invested.

Universal life insurance falls under a broader category of policies sometimes referred to as cash-value , or permanent, insurance. These types of insurance policies combine death benefits with a savings component or cash value that is reinvested and tax deferred.

Ashly had a few insurance questions. But the one I am about to answer is: ” If You live in Ann Arbor, do you need to pay off a person’s debt with their life insurance proceeds?”

Ann Arbor, Michigan is nicknamed “Tree Town” the name stems from the dense forestation of its parks and residential area.

Answer to Readers Question : No, the person who is named as the beneficiary in a life insurance policy does not have to pay off any debts. The proceeds belongs to them directly.

Whatever estate is left usually to pay off debts and then the balance of the estate is distributed to heirs. If the beneficiary of the policy is the estate, then it becomes an asset of the estate and should be used to settle the deceased’s debt.