Sentences with phrase «of universal life»

Then there are other types of universal life insurance policies.

Common types of universal life policies include flexible premium adjustable life, guaranteed universal life, equity indexed life and variable universal life.

Also, many business owners choose a type of universal life insurance policy when planning for business succession.

However, a key benefit of universal life insurance policies is that you can pay a greater amount into the cash value in years when you have the money on - hand.

Variable - universal life insurance: A type of permanent insurance that combines the premium flexibility of universal life insurance with a death benefit that varies as in variable life insurance.

The definition of universal life insurance is as follows.

Variable - universal life combines the premium and benefit flexibility of universal life with the investment potential and risk of variable life.

This is in the form of universal life insurance coverage.

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

Additionally, the cash value of a universal life insurance policy has an interest rate that's sensitive to current market interest rates.

Another advantage of universal life insurance plans is that they continue to build cash value the longer that you pay the premiums.

For some, the high cost of universal life insurance vs term life insurance is worth the price.

In the case of their universal life product, you can even pay off your policy in few years.

At least eight of the top 20 universal life carriers have stopped selling a popular type of universal life product, and those exits are impacting overall individual life sales this year.

Whole Life policies, and one of two options of universal life policies — Option B — pay the cash value in addition to the face value upon death.

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

This is accomplished by gaining access to a portion of your universal life policy cash value.

Below, we will discuss the pros and cons of universal life so you can make an educated decision on the best insurance policy for your needs.

The key to the successful use of universal life coverage is paying attention to your policy and adjusting as needed.

Additionally, policyholders of universal life contracts have the option to select a fixed death benefit payout or an increasing death benefit payout for their beneficiaries.

As the name suggests, variable universal life insurance combines the flexible premiums of universal life insurance with the investment choices of variable life insurance.

The concept of the universal life insurance policy would be to have it for at least 10 - 15 years before you start to cash out or shift investments.

There are a few different varieties of the universal life policies that you can purchase and that have very similar features to a regular term life policy.

So let's break this into four groups and four good reasons for women to consider at least carrying some term insurance and in some cases small amounts of universal life and whole life.

The cash value inside of a universal life insurance policy is allowed to grow on a tax - deferred basis.

It has the investment risks and rewards characteristic of variable life insurance, coupled with the ability to adjust premiums and death benefits that is characteristic of universal life insurance.

The strategy initially involves the purchase of a universal life insurance policy during your income earning years.

Because of the way the investment component of universal life insurance works, however, your policy may build more cash value some years than others.

Now let's cover the cash value aspect of universal life insurance in more detail, because its flexibility is a big advantage.

The main risk of universal life insurance is that your level of coverage may fall if either the cost of your insurance rises or if the interest rate credited to your account falls.

The disadvantage of universal life insurance is that the flexibility might become a liability.

In many cases, the price of universal life or whole life insurance is so expensive that the required amount of insurance can not be afforded.

Included under the category of universal life is indexed universal life and variable universal life.

Think of universal life as «permanent term» where the monthly premiums are level, but availability goes beyond 30 years.

The family of universal life has several different products.

Under the umbrella of universal life is also indexed universal life and variable universal life.

Remember that a dividend is based upon a return of premiums paid and in the world of universal life, payments may be extremely inconsistent from policy owner to policy owner.

Some people may initially think of a universal life insurance policy as an alternative to other financial investments.

The no lapse guarantee of their universal life insurance product is a great way to maintain the guarantees of permanent benefits, but keep the premiums low.

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

That's exactly what happened with many of the first generation of universal life policies, established some 30 years ago.

There are several different variations of universal life insurance policies on the market today.

It is essentially a hybrid combination of universal life and ordinary level premium participating life insurance.

While current policies use more conservative interest rate models, the potential for decreases in coverage and rising payments still is a risk due to the general structure of universal life policies.

Staying on top of a universal life policy may not be everyone's cup of tea, but variable life policies are even more complex and require you to remain vigilant.

There are different kinds of universal life insurance policies, so get different quotes and compare the benefits of each one.

The exclusion is now over sixteen times this and many of those universal life insurance policies basically crashed and burned.

Variable universal life insurance coverage is a hybrid of universal life and variable life contracts.

The main benefit of universal life vs whole life is the flexibility.