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. More information regarding most attractive features of whole life insurance have to be looked for by those who would like to know the meaning of this unique addition insurance feature. When you buy whole life insurance, you are offered with a cash value. A cash value is the attractive feature that provides liquidity for anything you need in a whole life insurance. You have to add a paid up addition rider if you would like to enjoy the benefits of life insurance. The overall policy growth is increased by paid up addition rider and because of that reason, it does not only enrich the cash value of your property.
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. Those who have declining health are the ones who benefit from this additional feature because of the reason I have mentioned above. 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. If you choose to use the cash value to finance other assets after buying a whole life insurance policy, paid up additions riders are necessary to add. If you do not add such additional insurance, your cash value will grow slowly. Because of that reason, you should buy a paid up additional rider if you would like to increase your policy’s cash value.
Every year, mutual insurance companies pay out dividends. Even though dividends are not guaranteed, a lot of mutual insurance companies have a history of dividend payout. Such companies can pay out dividends to those who purchase life insurance policies 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. 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. When you purchase life insurance, you do not only enjoy death benefits, it is a valuable living benefit also.