Universal life insurance

In my previous article, I talk about some general information about regular life insurance. Now i will talk about universal  life insurance.

Universal life insurance

Universal life insurance policies allow the policy owner to purchase a term insurance protection and put the rest of the funds in the saving account. Universal life insurance also have six significant features. Flexible premiums, flexible protection, company expense are reported, partial surrender, insurance components are unbundled, death benefit options. In these six components, partial surrender can be made from the policy's cash value, not considered as a loan. Insurance components are unbundled means the elements of the insurance policy are identified and reported separately. Death benefits are paid from both face amount and cash value.

universal life insurance can emulate any of the traditional life insurance products: term , life, even an endowment to age 95.