Sentences with phrase «universal life policy owners»

«You can talk to many universal life policy owners who bought in the»80s and have seen their polices lapse,» says Brad Cummins, founder of Local Life Agents, a Columbus, Ohio - based firm of independent insurance agents.

Universal life policy owners are not owners of the life insurance company.

Not exact matches

Universal life insurance policy owners are NOT viewed as owners of the life insurance company.

To fully understand annuities, the first important aspect to note is that, just like other insurance products, regardless whether we're talking about convertible term life insurance, whole life insurance, universal life insurance, etc., annuities are a contract between the policy owner and the insurance company.

North American's Universal Life policy doesn't accrue value or offer dividends to their owners, which means that you don't have much opportunity to increase your policy's death benefit.

For example, universal life and variable universal life insurance policies allow policy owners to adjust premiums and death benefits to suit their financial needs.

One of the other things indexed universal life insurance policies are commonly used for is funding buy - sell agreements between two business owners.

In universal life insurance, policy owners can opt to participate in the surplus of the insurance company and receive the dividends annually.

An owner of a universal life insurance policy can generally take loans out against their policy, which will then be paid back with interest.

Most universal life policies (UL) allow the owner to switch between the level or increasing death benefit with few restrictions.

The nice feature about Universal Life insurance is that it provides flexibility to the policy owner in regards to the timing and amount of premium payments.

Variable Universal Life allows the owner to invest the policy into various investment vehicles which can make the premium and cash reserve go down or up depending on the performance of the vehicle invested in.

That's why more and more universal life insurance policy owners are choosing to opt for a plan with a «Secondary Guarantee,» (also known as a No - Lapse Guarantee).

The main difference is the cash value in a variable universal life policy is reliant on the financial market and is managed by the policy owner.

The owner of a second - to - die variable universal life policy wanted to know how much he might get in a life settlement sale.

North American's Universal Life policy doesn't accrue value or offer dividends to their owners, which means that you don't have much opportunity to increase your policy's death benefit.

The owners of an Alaskan air cargo company asked me to help them and their advisors understand an eight - year - old no - lapse universal life policy.

A universal life product is one which allows a little bit of flexibility for the policy owner while still locking in some permanent benefit possibilities.

A conversion option is typically included and allows the owner of the term policy to covert all or a portion of the term into permanent coverage, such as universal life insurance, without proof of insurability — that means no health questions or medical exam.

Variable universal life insurance allows the owner to invest the policy accumulation value into variable accounts.

Conversion Benefit — This feature allows the policy owner to «convert» a term life policy into an approved permanent life policy from the same company, usually a universal life policy.

Instead, fixed universal life policies generally earn an interest rate in the cash value, while variable universal life policy returns depend on the performance of the funds offered within each policy's subaccounts, which are analogous to mutual funds, except that the insurance company owns the shares rather than the policy owner.

Whole and universal life insurance policies are both known for having a cash value that the owner of the policy can borrow against.

Here we will describe what exactly a universal life insurance policy is and what a policy owner can expect from such a policy.

Change of the death benefit type, for owners of universal life insurance policies, can also be made that will either include or exclude in the proceeds any accumulated cash value when the insured person dies.

Universal life insurance can be advantageous for individuals and for business owners, as it offers guaranteed cash value, as well as the ability to get policy loans with tax free income potential.

In fact when variable universal life policies first became available in 1986, contract owners were able to make very high investments into their policies and received extraordinary tax benefits.

A variable universal life insurance policy does not necessarily require policy owners to always make premium payments.

For example, indexed universal life offers policy holders a return of cash based upon a number of market indexes (such as the S&P 500 index) that may be selected by the policy owner.

The risk of a variable universal life insurance policy is that the market will decline, and the owner will end up with a poorly performing policy.

To fully understand annuities, the first important aspect to note is that, just like other insurance products, regardless whether we're talking about convertible term life insurance, whole life insurance, universal life insurance, etc., annuities are a contract between the policy owner and the insurance company.

Excess earnings from the account with the money for universal life insurance policies actually is taken by the life insurance company and added to their earnings (which can then be shared with whole life policy owners).

In some rare cases where a policy has a high cash value, the policy owner could take out a withdrawal of the cash value (particularly with a universal life policy) before undergoing a life settlement.

Given this, the more flexible features and cash value accumulation options on this indexed universal life insurance plan can help policy owners in meeting various financial needs both now and in the future.

Generally, a universal life policy provides flexibility by allowing the policy owner to change the death benefit at certain times, or to vary the amount or timing of premium payments.

Over the last few decades, insurers have had to reduce the interest payments they offer to universal life insurance policy owners.

Fast - forward to 2016, and the owners of these policies must continue to pay additional money into their universal life insurance policies to prevent their coverage from lapsing.

Fast forward to 2016 and the owners of these policies must continue to pay additional money into their universal life insurance policies to prevent their coverage from lapsing.

The universal life premiums (which are variable), are broken down by the life insurance company into insurance and savings, allowing the policy owner to make adjustments based on his / her own individual circumstances.

It specifies who is insured, the policy owner (may be different than the insured), what amount is insured, the type of life insurance (term life, whole life, universal life or variable life), the premium, the policy number, and it shows the name and address of the insurance company.

Universal life insurance was created to provide more flexibility than whole life insurance by allowing the policy owner to shift money between the insurance and savings components of the policy.

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Like whole life insurance, universal life does not allow the owner of the policy to participate in how the premiums are invested.

Whole life and universal life insurance are types of permanent life insurance plans that accumulate cash value as the policy owner pays premiums, and the owner can borrow against that cash value.

Universal life insurance also includes the ability to alter the face value of the policy at a later date, to give the policy owner power over how the premiums are invested, and to even give you some flexibility in when and how much your premiums will be.

Other types of permanent insurance (such as universal life policies) often provide the owner with options that focus on how excess premiums are invested, resulting in a higher return.

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Universal life insurance is typically one of the more expensive types of whole life coverage, owing in large part to the way the accrued cash value can be manipulated by the policy owner.

Effectively communicate Variable Universal Life product features to individual policy owners and insurance agents.