How is universal life different from traditional life insurance?
The major difference is flexibility. T-$aver Plus, Transamericas plan, meets the employees changing circumstances. The face amount of the certificate can be increased (provided the employee is in good health) or decreased*. The employee’s premium can be decreased, skipped, and even stopped as long as there is sufficient cash value to pay for the monthly cost of protection. * A decrease in face amount may have adverse tax consequences.
