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

In addition, the policyholder of a universal life insurance policy may also be able to decide how much of their premium dollars will go towards the death benefit, and how much will go towards the cash value component of the policy.

Not exact matches

Also, as permanent insurance, the cash value account in universal life grows tax - deferred and can be accessed by the policyholder in the form of loans or withdrawals, subject to any applicable policy provisions.

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In addition to paying required premiums, universal life insurance policyholders can also pay in additional funds to increase the cash value of the policy.

The big difference between universal life insurance and a whole life policy, is that with universal life the premiums can be paid as the policyholder desires, as long as sufficient cash values are present to pay of the cost of insurance.

Term life insurance awards a fixed amount of money at the death of the policyholder, and universal life insurance policies offer this as an option.

A universal life insurance policy is similar to a Whole Life policy, with the exception of less policyholder participation in how the premiums are invested in money market fulife insurance policy is similar to a Whole Life policy, with the exception of less policyholder participation in how the premiums are invested in money market fuLife policy, with the exception of less policyholder participation in how the premiums are invested in money market funds.

Both the indexed universal life insurance and the term life insurance policies typically include an accelerated death benefit so that a large portion of the death benefit can be paid to the policyholder in the event of a terminal illness.

A universal life insurance policy, also known as a permanent policy, is a flexible type of life insurance that allows the policyholder to adjust the premium and amount of coverage.

Universal life insurance is a type of life insurance policy that allows the policyholder to alter the policy in response to life changes, by merging the benefits of term life insurance with those of a savings account.

As with whole life insurance, the cash value in a universal life (or UL) policy can grow on a tax - deferred basis, and the money in this component of the policy may be withdrawn or borrowed by the policyholder for any reason.

The fixed indexed universal life insurance policy allows the cash component to experience growth that is based on an underlying market index, such as the S&P 500 — yet, in times of a market downturn, the policyholder won't lose value in their cash component.

The big difference between universal life insurance and a term life policy, is that with universal life the premiums can be paid as the policyholder desires, as long as sufficient cash values are present to pay of the cost of insurance.

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.

The Secure Lifetime GUL 3 is also a universal life insurance policy that provides the policyholder with a great deal of flexibility in both coverage and cash value build up.

Since a healthy sum of cash value in a variable life or variable universal life insurance policy is needed to pay the costs of keeping the policy in force, policyholders should choose their sub-account investments with extreme caution.

One major draw of universal life insurance is that it allows the policyholder to do two important things: review and alter the policy as circumstances change and use the interest from accumulated savings to help pay premiums.

Indexed universal life policies put a portion of the policyholder's premium payments toward annual renewable term insurance with the remainder added to the cash value of the policy after fees are deducted.

A type of life insurance that allows the policyholder to change a term policy into a whole or universal policy without going through the health qualification process again.

Convertible Term Insurance allows the policyholder to change the face value of the term policy in force into a permanent form of Life Insurance, such as Whole Life, Universal Life or Variable Life, without any penalties or evidence of insurability.

Certain life insurance policies — such as universal life insurance — also allow policyholders to accumulate tax - deferred funds by investing the maximum allowable amount into the cash value portion of their insurance policy.

Variable Universal life insurance is similar to regular universal life insurance coverage, except in this case, the policyholder is allowed to invest the cash in their policy into different types of investments such as mutuUniversal life insurance is similar to regular universal life insurance coverage, except in this case, the policyholder is allowed to invest the cash in their policy into different types of investments such as mutuuniversal life insurance coverage, except in this case, the policyholder is allowed to invest the cash in their policy into different types of investments such as mutual funds.

A more flexible version of variable survivorship life insurance called «variable universal survivorship life insurance» allows the policyholder to adjust the policy's premiums and death benefit during the policy's life.

Indexed universal life insurance policies give policyholders the option to allocating all or a portion of their net premiums (after paying for the insurance coverage and expenses) to a cash account.

Companies that offer this rider will allow the policyholder to convert all or part of their insurance policy to permanent life insurance like universal life or whole life.

Indexed universal life insurance differs from variable universal life insurance in that indexed policies follow a stock market index, while variable policies can allow policyholders to allocate funds to a variety of investment vehicles, such as stocks, bonds and equity funds.

As with a regular universal life insurance plan, the policyholder of a variable universal life insurance policy can make adjustments to the premium payments and / or the death benefit as needed in order to meet their ongoing changing needs.

Similar to whole life insurance, universal life insurance is considered a permanent insurance type that covers the policyholder as long as the cost of insurance and policy fee has been paid.

In deciding how much of the premium will go towards the cash value and the death benefit, a universal life insurance policyholder will oftentimes be able actually to move funds between the two sections 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.

AG 38 is a document of guidelines drafted by the NAIC in 2013 that addresses whether or not insurers have adequate reserves for certain types of life insurance policies (specifically — universal life insurance policies that offer secondary death benefits to policyholders).

Variable universal life insurance is similar to traditional universal life, except that the policyholder is allowed to invest the cash portion of their policy into different types of investments such as mutual funds.

Depending on the actual performance of this account, the policyholder could earn a great deal more than he or she would in a whole or universal life insurance policy, or conversely, they could end up losing funds in a downward moving market.

If the cash value ever reaches zero due to investment failures or withdrawal of cash by the policyholder, the policy is cancelled, so types of universal life insurance policies are less permanent than whole life insurance policies.

Like any other life insurance, the policyholder of a universal variable policy is expected to get a death benefit.

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.

As many Universal Life policyholders faced the potential of lapsed policies, the insurance companies knew they needed to create a policy that had more guarantees built in.

They cost a fraction of what most whole life and universal life insurance policies cost, allowing the policyholder to save the difference.

Some types of life insurance policies, including whole life, universal life and variable life, can accumulate cash value during the policyholder's lifetime.

For insurance purposes, accumulated value begins to build when the policyholder of a whole (or universal) life insurance policy starts paying a monthly premium.

The cost of insurance inside a universal life policy, which acts like an annual renewable term policy, increases as a policyholder ages.

With Universal Life, the policyholder can purchase affordable life insurance and look forward to building a cash account that can be invested in the later years of the polLife, the policyholder can purchase affordable life insurance and look forward to building a cash account that can be invested in the later years of the pollife insurance and look forward to building a cash account that can be invested in the later years of the policy.

With Universal Life, the policyholder receives the same benefits of term and whole life insurance, but also policy flexibility that is not available in the other produLife, the policyholder receives the same benefits of term and whole life insurance, but also policy flexibility that is not available in the other produlife insurance, but also policy flexibility that is not available in the other products.