The word PUA is an abbreviation for paid up additions. When you buy a life insurance, you are offered with a unique feature, and that’s the one called a paid up addition rider. You have to look for more information regarding most attractive features of whole life insurance if you want to understand this unique addition insurance feature. You ate offered with a cash value if you buy whole life insurance. A cash value is the attractive feature that provides liquidity for anything you need in a whole life insurance. For you to enjoy the benefits of life insurance, you have to add a paid up addition rider. Paid up addition rider is essential because it also increased the overall policy growth and not only enriching the cash value of your policy.
When you visit an insurance company to buy whole life insurance policy, they will ask you to buy paid up additions riders separately. Because you buy your policy separately from the paid up addition rider, that’s why it is regarded additional insurance. When you buy a paid up addition rider, you enjoy a lot of benefits apart from enriching your cash value. Above I have mentioned one of the additional insurance that you can buy, and if you have one, you will not undergo medical writing. Because of that reason, this additional feature benefits specifically those who have declining health. If you would like to know more about paid up addition riders, you should continue reading this guide.
Paid up additions riders serve as the best financial strategies and that’s why they are needed by those who buy whole life insurance policies. You should add paid up additions riders when you buy a whole life insurance policy and choose to use cash value as a strategy to finance other assets. If an additional insurance like this one is not added, your cash value will grow slowly. A paid up additional rider should be purchased if you would like your policy’s cash value to be increased because of the reason I have mentioned above.
Mutual insurance companies pay out dividends every year. A lot of mutual insurance companies have a history of dividend payout even if dividends are not guaranteed. Those who by whole life insurance policies from such companies are paid out dividends even during the great depression period. You can earn dividends every year if you purchase additional insurance such as paid up addition riders together with dividends. Those who are buying life policies are asked by insurance companies to add such additional insurance policies because they add value to your life insurance assets. Life insurance is a valuable living benefit also and not only offer death benefits when it is bought.