Universal life insurance is a type of permanent life insurance policy. That means it covers you for life and comes with a cash value growth component. Once you build enough cash value, you can withdraw from or borrow against it. You also receive the full value minus surrender charges if you surrender the policy. Universal life insurance also lets you increase your death benefit or decrease your premiums, providing you with more flexibility.
All these features make universal life insurance a good potential investment for many types of people. With that in mind, this article will cover several circumstances where getting a universal life insurance policy can be helpful.
1. Those who need lifelong coverage
Universal life insurance offers lifelong coverage as long as you stay current on your premium payments. That means, unlike with term life insurance, you don’t need to worry about your policy expiring.
Another benefit to lifelong coverage is that you can lock in your premiums for the rest of your life. Life insurance premiums rise with age, but once you buy life insurance, your premiums remain fixed unless you adjust them within your policy.
2. Parents with multiple children
Raising a child can cost an average of almost $13,000 per year. Plus, parents may have to save money for each child’s college education. This can make it challenging for one parent to raise multiple children if their partner passes away — even if both partners earn incomes.
Universal life insurance can help alleviate these worries. If you pass away, your partner will receive a substantial death benefit to replace your income, pay off debts, and set aside money for the future.
Thanks to the cash value, universal life insurance can also help you raise your children even if you don’t pass away. Over time, your cash value may grow quite large. You can withdraw from or borrow against it at favorable terms and low rates. This offers you the funds to pay for family expenses and potentially cover your children’s college educations. Finally, if you ever need to change coverage to save money on premiums or up your death benefit, universal life insurance lets you do that.
3. Those who want to build wealth
A universal life insurance policy’s cash value can offer a source of wealth for policyholders. As mentioned, you can withdraw from it when it grows large enough, although you must be aware of any tax consequences. Y ou can also borrow against it at low rates. However, you must make sure the loan balance doesn’t grow larger than the cash value, or the policy could lapse. Finally, if you decide you no longer need life insurance and surrender the policy, you can receive all of your cash value minus surrender charges.
In any case, this cash value can offer a significant source of wealth when used wisely. You could use the proceeds to refinance or pay off debt, supplement your retirement funds, make large purchases, travel, and more.
The bottom line
Universal life insurance can fit many people’s needs. It offers lifelong coverage, which allows you to get a policy early and lock in premiums without worrying about coverage expiring.
Families with many children can find it useful as well. You can rest assured that your partner and children will be protected if you pass away. Plus, you can use the cash value to help cover childcare costs and future expenses, like education.
Finally, anyone who wants to build wealth could find universal life insurance helpful. You can withdraw or borrow from the cash value to travel, pay off debt, boost your retirement funds, and more. So, consider looking for universal life insurance if any of these describe your situation and financial needs.
Hardwood Floors Refinishing: Top Care Tips for a Lasting Shine
Revamping your hardwood floors requires both a time and financial investment, yet the returns are evident in the enhanced aesthetics and functionality of your residential or commercial area. However, the longevity and durability of these newly refinished floors are contingent upon proper maintenance. This detailed guide is designed to offer expert guidance on how to preserve the quality and look of your newly refinished hardwood floors. We’ll cover a variety of subjects, from the science of wood aging and types of wood that need more frequent treatment, to top tips for floor upkeep. Your investment in hardwood floor refinishing need not be short-lived; with the correct care, it can be a long-term enhancement to your property.
Tips for Ensuring Durability in Your Newly Refinished Floors
After you have spent money on hardwood floor refinishing, maintaining their condition becomes a top priority. Here are strategies to prolong the lifespan and appearance of your updated flooring.
1. Regular Cleaning
A clean floor is a happy floor. Use a microfiber mop or cloth to pick up dust, dirt, and grime daily if possible. For a deeper clean, opt for cleaning products specifically designed for hardwood floors. Make sure to read the labels and opt for pH-neutral cleaners that are free from abrasives or harsh chemicals. Weekly or bi-weekly, consider a gentle vacuuming with a hardwood-friendly vacuum cleaner to remove debris that may have settled between the wood planks.
2. Use Protective Pads
One of the most effective ways to prevent scratches and dents on your hardwood floors is to place felt pads under the legs of furniture. This simple step can go a long way in preserving the smooth finish of your floor. You should also replace these pads every few months, as they can wear down or accumulate grime, reducing their effectiveness.
3. Control Humidity
Fluctuating indoor humidity levels can wreak havoc on hardwood floors. Excessive moisture can cause the wood to swell, leading to issues like cupping or buckling, while too little moisture can cause wood to shrink, leading to gaps between planks. Invest in a quality hygrometer to measure your home’s humidity level, and aim to keep it between 30% and 50%. Use a humidifier during dry months and a dehumidifier during humid months to maintain optimal conditions.
4. Proper Spill Management
Accidents are inevitable, but the way you handle them can make all the difference. Whether it’s water, juice, or wine, if you spill liquid on your hardwood floor, wipe it up immediately with a dry or slightly damp cloth. Avoid using paper towels as they can disintegrate and get stuck in the crevices of the wood. Also, never let liquids sit on the wood, as they can seep in and cause staining or warping.
5. No Shoes Policy
Implement a ‘no shoes’ policy to preserve your floors. Shoes can bring in dirt, gravel, and other harmful debris from outside. If a full-blown ‘no shoes’ policy isn’t realistic for your household, at least insist on no high heels or sports cleats, which can cause dents and scratches. You might also consider placing a high-quality doormat at entrances to trap dirt before it gets to your floor.
6. Regular Inspections
Every three to six months, set aside time to inspect your hardwood floors meticulously. Use natural light or a bright lamp to look for scratches, dents, or areas where the finish might be wearing off. If you catch these issues early, you may be able to address them with a simple touch-up rather than a full refinishing job.
7. Refresher Coats
Although your newly refinished floors look amazing now, they won’t stay that way forever without some upkeep. Consider applying a ‘refresher’ coat of finish every two to three years. This isn’t as invasive or time-consuming as a full refinishing project. Instead, it’s more like a topcoat that adds an extra layer of protection, keeping your floors looking vibrant and shiny.
8. Scheduled Expert Cleaning
A yearly cleaning session by professionals can dramatically enhance the condition of your hardwood floors. Specialized machinery and products are used to eliminate tough dirt, renew the wood’s natural shine, and smooth out minor imperfections. This process not only rejuvenates your flooring but also prolongs its lifespan, maintaining its fresh appearance for an extended time.
Advantages of Consistent Upkeep
Routine care for your restored hardwood floors does more than maintain their visual appeal; it also prolongs their durability, augmenting the long-term value of your property. Floors that are regularly cared for can endure for many years, negating the need for frequent, costly refinishing. In addition, a structured care regimen lessens the likelihood that small defects will escalate into serious issues, thus promoting a cleaner and more healthful living area. In summary, regular maintenance serves as a long-term financial benefit and a means of sustaining your home’s elegance.
When To Seek Professional Help
If you notice persistent issues like deep scratches, stubborn stains, or any form of water damage, it’s best to seek professional help. Specialists in hardwood floors refinishing can assess the situation and provide targeted solutions. Companies like 1DayRefinishing offer an extensive range of services that can effectively address these problems. Notably, the company specializes in a one-day turnaround, making them a convenient option for those in need of quick yet high-quality refinishing solutions.
Finding Trustworthy Services for Floor Refinishing
If you’re in a location with scarce local options, consider exploring 1 DAY Refinishing. Their seasoned experts offer complete solutions for maintaining and refinishing hardwood floors, helping to keep them pristine for the long haul.
The decision to invest in refinishing your hardwood floors is a significant commitment to enhancing your home’s aesthetics and overall value. By diligently following proper maintenance routines, your refinished floors can continue to elevate your home’s ambience. Every effort, from regular cleaning, to hiring professionals, adds to the resilience and visual allure of your hardwood floors. Stick to these essential care guidelines, and your floors will maintain their lustre for an extended period.
- Fernando Shahpouri – Fresh Take On Politics September 29, 2023
- Vanex Group’s Superior Exchange Rates Surpass Traditional Banks September 29, 2023
- Hardwood Floors Refinishing: Top Care Tips for a Lasting Shine September 27, 2023
- Kevin Noulowe the most athletic big man Armenia had ever seen September 26, 2023
- The Pros and Cons of Cedar Roofing: A Balanced View September 25, 2023
- Choosing a Reliable Roofing Contractor: 10 Questions to Ask September 25, 2023
- Hardwood Staircase Flooring: Pros, Cons, and Benefits September 21, 2023
- Dr. Mona Jhaveri Explains The Future of Telemedicine: Benefits, Challenges, and Growth Potential September 18, 2023
- 3 Mental Habits To Win Your Wife Back September 11, 2023
- No Contact Done Right: Do THIS To Get Your Ex Back Without Seeming Needy September 11, 2023
Tech3 years ago
Effuel Reviews (2021) – Effuel ECO OBD2 Saves Fuel, and Reduce Gas Cost? Effuel Customer Reviews
Tech4 years ago
Bosch Power Tools India Launches ‘Cordless Matlab Bosch’ Campaign to Demonstrate the Power of Cordless
Lifestyle4 years ago
Catholic Cases App brings Church’s Moral Teachings to Androids and iPhones
Lifestyle3 years ago
East Side Hype x Billionaire Boys Club. Hottest New Streetwear Releases in Utah.
Tech5 years ago
Cloud Buyers & Investors to Profit in the Future
Lifestyle3 years ago
The Midas of Cosmetic Dermatology: Dr. Simon Ourian
Health4 years ago
CBDistillery Review: Is it a scam?
Entertainment4 years ago
Avengers Endgame now Available on 123Movies for Download & Streaming for Free