What Are The Disadvantages and Benefits of Variable Universal Life Insurance?
Variable Universal Life Insurance works similarly to Universal Life, offering the same flexibility, in most cases. There are, however, some disadvantages and benefits associated exclusively with this type of insurance plan: • Your payments are generally applied to the cash value, which fluctuates based on the performance of the investment options that you select. The cost of the death benefit and any administrative costs are typically deducted from this cash value. • As with Universal Life policies, Variable life contracts typically offer you a choice of death benefit. • You are usually allowed to change the death benefit, although any increases may require evidence of your health. Choosing a Life Insurance Policy: Providing Protection for Your Loved Ones Now that you are more fully informed as to the basics of life insurance options, your next step is to make an appointment with your financial advisor in order to determine which option is the best for you. Remember that your certified
