Sentences with phrase «guaranteed universal life contracts»

They are guaranteed universal life contracts to age 121, and build little to no cash value.

After the initial term has expired, the premiums will increase mightily, so if you need coverage longer, you might consider a 30 year term or guaranteed universal life contract as an alternative.

Not exact matches

In addition to the $ 38 million increase in reserves related to group annuity contracts, Brighthouse incurred $ 53 million in «unfavorable reserve adjustments» connected to the company's universal life with secondary guarantees business.

Whole life insurance is another form of permanent insurance, like universal, but has a higher level of guarantees and cash growth within the contract.

Thus, in the same way that life insurance companies offer alternatives such as guaranteed universal life insurance, indexed universal life insurance OR variable life insurance, annuity contracts offer similar options.

For no - lapse universal life, that charge is guaranteed in the contract and can not increase, except possibly if the insurance company becomes insolvent.

For nonguaranteed universal life, however, the insurance company usually charges much less than the maximum rate that is guaranteed in the contract, and it has the right to increase the current rate.

Whole life insurance is another form of permanent insurance, like universal, but has a higher level of guarantees and cash growth within the contract.

Not all universal life contracts have this sort of guarantee.

It should be mentioned that accessing cash value from a strict universal life insurance contract by of loan or withdrawal can greatly impact the latter years of the policy, even diminishing certain guarantees if the policy isn't funded as originally intended.

Due the their complex contract structures, universal and variable life policies can not guarantee both cash accumulation and a death benefit, although it is possible to have both, and for a beneficiary to receive both.

A universal life contract provides access to cash value accumulation like that of a whole life policy; however, cash value within a universal life policy includes a guaranteed minimum interest rate plus an additional interest payment if and when the life insurance carrier experiences higher returns on its own investments.

This guaranteed period or «term» that a death benefit will be paid (only upon death of the insured) is the reason this kind of insurance policy is called «term life insurance», Other permanent types of insurance contracts also exist such as whole life insurance and universal life insurance, which will never expire as long as all premium payments are made in a timely manner to the insurance company.

The cash value is guaranteed to accrue at a certain rate in a whole life insurance policy as long as the illustrated premium payments are made, but not necessarily with a universal life or variable universal life contract.

A GUL, or guaranteed no - lapse universal life policy, is universal life coverage where the insurance company guarantees that your policy will never lapse as long as you continue paying the no - lapse target premium specified in the policy contract.

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Unlike other permanent policies that terminate if there is no cash value, guaranteed universal life depends on a specified premium being paid as contracted for the coverage to remain in force, regardless of zero cash values.