Sentences with phrase «guarantee universal life policy ensures»

Unlike whole life or traditional universal life policies, a no - lapse guarantee universal life policy ensures the premium will never change or coverage will lapse as long as you make your on - time premium payment.

Not exact matches

You can mitigate this risk by electing the No Lapse Guarantee Rider on the universal life policy you choose.This rider ensures that if you fund the policy at a premium level required to maintain the guarantee, the policy will not lapse, even if the cash surrender value is not sufficient to cover the policy's monthlyGuarantee Rider on the universal life policy you choose.This rider ensures that if you fund the policy at a premium level required to maintain the guarantee, the policy will not lapse, even if the cash surrender value is not sufficient to cover the policy's monthlyguarantee, the policy will not lapse, even if the cash surrender value is not sufficient to cover the policy's monthly charges.

Your policy (if sufficient) can then be used to help pay for college expenses, to get a leg up on retirement planning, or saved in case of emergency.1 You must also keep sufficient cash value in your universal life policy to ensure its no - lapse guarantee and extended coverage benefits remain in force.