Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

Universal Life Insurance FAQs What is universal life insurance?

April 26, 2017Life Insurance universal

0

Posted

Universal Life Insurance FAQs What is universal life insurance?

1 Answer

0

Posted

A universal life insurance policy is an interest-sensitive, flexible-premium, adjustable life insurance policy. The policy owner selects the amount of insurance (selected amount) and periodic premium (selected premium) for which to be billed. Premiums paid plus current interest credited combine to form the policy accumulation value. The cost of insurance, per policy charges, per thousand charges, and billing collection charges are deducted monthly from the policy accumulation value.