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Universal life insurance (often shortened to UL) is a type of cash value life insurance, sold primarily in the United States.Under the terms of the policy, the excess of premium payments above the current cost of insurance is credited to the cash value of the policy, which is credited each month with interest.The policy is debited each month by a cost of insurance (COI) charge as well as any ...
A universal life insurance option provides more flexibility than whole life insurance.Policyholders have the flexibility to adjust their premiums and death benefits.
Universal Life Insurance
Benefits of Universal Life Insurance. A flexible solution that offers the security of lifetime coverage and tax-effective investing to help you protect your assets and your loved ones for the long-term.
Some other things to know about universal life insurance. A flexible premium universal life insurance policy has the flexibility to adjust to your changing needs.
Death Benefit Universal life insurance provides permanent coverage so that in the event of your passing, your family is protected. Some universal life policies offer an option to guarantee the death benefit as long as specified premiums are paid.
Variable universal life insurance (often shortened to VUL) is a type of life insurance that builds a cash value. In a VUL, the cash value can be invested in a wide variety of separate accounts, similar to mutual funds, and the choice of which of the available separate accounts to use is entirely up to the contract owner.The 'variable' component in the name refers to this ability to invest in ...
Like Whole life insurance, Universal life insurance provides you with permanent coverage for life (as long as your premiums are paid). Unlike Whole life, your premiums and death benefit amount are flexible.
Equity Indexed Universal Life Insurance Pros and Cons. While many life insurance policies can provide you with death benefit protection, and some even provide a cash value build-up, indexed universal life insurance (IUL) is unique in that it gives you market-linked growth, as well as protection of principal.
Life insurance with investment options. Variable Universal Life (VUL) insurance is a life insurance product with investment options. It's designed to help you protect your family's future — and give you access to professionally managed investments that can help you accumulate assets.