The word PUA is an abbreviation for paid up additions. The unique addition feature that is offered when you purchase whole life insurance is the one that is 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. When you need anything in a whole life insurance, the attractive feature that will provide liquidity is the one that is referred to as cash value. 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. Your cash value is not only enriched by paid up addition rider, you also enjoy other benefits when you buy it. You do not undergo medical underwriting when you purchase an additional insurance like the one I have mentioned above. This additional feature benefits specifically those who have declining health because of the reason I have mentioned above. This guide should be read by those who would like to know more about paid up addition riders.
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. When you buy a whole life insurance policy and choose to use cash value as a strategy to finance other assets, you should add paid up additions riders. If you do not add such additional insurance, 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.
Dividends are paid out by mutual insurance companies every year. A lot of mutual insurance companies have a history of dividend payout even if dividends are not guaranteed. Even during the great depression period, such companies can pay out dividends to those who buy whole life insurance policies. If you buy dividends with other additional insurance such as paid up addition riders, every year, you will earn dividends. Your life insurance assets will add value when you buy such additional insurance policies, and that’s why many people are asked by insurance companies to buy them. Life insurance is a valuable living benefit also and not only offer death benefits when it is bought.