Sentences with phrase «feature of a universal life insurance policy»

The key feature of a universal life insurance policy is flexibility.

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Variable Universal Life (VUL) is another permanent life insurance type that offers similar features to other universal life policies, such as flexible allocation of premium Universal Life (VUL) is another permanent life insurance type that offers similar features to other universal life policies, such as flexible allocation of premium paymeLife (VUL) is another permanent life insurance type that offers similar features to other universal life policies, such as flexible allocation of premium paymelife insurance type that offers similar features to other universal life policies, such as flexible allocation of premium universal life policies, such as flexible allocation of premium paymelife policies, such as flexible allocation of premium payments.

While this can be done with term life insurance policies, this feature is, along with the premium flexibility, one of the main selling points of a universal policy.

This feature is so popular that you will often hear these policies called cash value life insurance instead of permanent life insurance, whole life, or indexed universal life.

One common feature you find with both the Term and Universal Life insurance policies is that you can get the policies for different terms of time such as anywhere from 5, 15, or 25 years for example.

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 Insurance (VUL) is a permanent type of Life Insurance combining the essential features of Variable Life Insurance and Universal Life Insurance, thus allowing the policyholder to allocate premiums to different investment options, to build up cash value and to determine when and how much you invest in your policy.

Learning about some of the key features and options of a universal life insurance policy will help you decide whether this is the right coverage for your situation.

Most versions of universal life insurance do not feature a, «no lapse,» policy clause.

In many ways, an indexed universal life insurance policy features a lot of the same coverage policies, benefits and actionable options available in a standard whole life insurance policy.

Many of the features and options inside an Indexed Universal Life Insurance policy mimics a Traditional Universal Life Insurance with the biggest difference being that gains are usually larger.

Cash values, more properly called cash surrender values (CSV), are features of permanent life insurance products that include whole life, universal life, variable life and universal - variable life policies.

Because of its tax - deferred feature Variable Universal Life Insurance offers an attractive tax advantage and if your policy is highly funded, tax advantages can and generally do reimburse the cost of the policy.

This is an important feature that allows the policyholder to convert a portion or all of the term insurance policy to a permanent policy such as whole life or universal life.

This feature is so popular that you will often hear these policies called cash value life insurance instead of permanent life insurance, whole life, or indexed universal life.

Now that you understand the basic features of a variable universal life insurance policy, and how the insurance charges work, here is how people actually profit from a VUL.

Life insurance is expensive to maintain and often becomes more expensive the older the insured becomes — a common feature of Universal life insurance (particularly policies that have previously been underfundLife insurance is expensive to maintain and often becomes more expensive the older the insured becomes — a common feature of Universal life insurance (particularly policies that have previously been underfundlife insurance (particularly policies that have previously been underfunded).

Add to cash value option is a feature in a universal life insurance where the policyholder turns over the cash value to the face value of his or her policy.

Advantages of an indexed universal life insurance policy may include above - average returns when the stock market does well, but protection when it doesn't — a feature many variable life insurance policies do not offer.

Guaranteed Universal Life Insurance, commonly known as a «GUL» policy, is something of a hybrid between term and permanent life insurance, and it offers it's purchasers the ability to take advantage of the best features of bLife Insurance, commonly known as a «GUL» policy, is something of a hybrid between term and permanent life insurance, and it offers it's purchasers the ability to take advantage of the best featuresInsurance, commonly known as a «GUL» policy, is something of a hybrid between term and permanent life insurance, and it offers it's purchasers the ability to take advantage of the best features of blife insurance, and it offers it's purchasers the ability to take advantage of the best featuresinsurance, and it offers it's purchasers the ability to take advantage of the best features of both.

Most term life insurance policies sold today come with a conversion feature that allows you to convert some or all of your term life insurance policy to a permanent policy like whole life, universal life or variable life.

This is because whole and universal life insurance policies often offer cash accrual as well as investment and borrowing features which inflate the cost of your life insurance.

A number of other types of life insurance policies or strategies offer some of the features of universal life and not others.

For example, let's say you purchase a universal life insurance policy with a 20 year return of premium feature.

One of the most valuable features of a term policy is the ability to «convert» it to permanent life insurance (usually a guaranteed universal life (GUL) policy), for the original or reduced death benefit, with no proof of health.

How the return of premium feature works on universal life insurance is that you choose how long you want the policy to be in - force before you have the option to terminate the policy in order to get a return of your premium.