What is the key feature of universal life insurance?
The key feature of a universal life insurance policy is flexibility. This flexibility is provided in three ways: • Premium paid by the policy owner The amount of money available to fund life insurance changes as we go through different stages of life. Universal life (UL) insurance provides ideal flexibility in that premiums are discretionary as long as the policy maintains a positive cash value. This aspect of UL provides the freedom to alter premium payment patterns as life circumstances change. For example, those just starting out will find UL attractive because they need flexibility in payments as incomes are starting to grow. As time passes and more discretionary income is available, UL allows for additional premium payments, which will produce greater policy value. • Death benefit selected by the policy owner The policys adjustable death benefit also provides desired flexibility. As the policy owner goes through the different stages of life, responsibilities change causing coverag
The key feature of a universal life insurance policy is flexibility. This flexibility is provided in three ways: • Premium paid by the policy owner The amount of money available to fund life insurance changes as we go through different stages of life. Universal life (UL) insurance provides ideal flexibility in that premiums are discretionary as long as the policy maintains a positive cash value. This aspect of UL provides the freedom to alter premium payment patterns as life circumstances change. For example, those just starting out will find UL attractive because they need flexibility in payments as incomes are starting to grow. As time passes and more discretionary income is available, UL allows for additional premium payments, which will produce greater policy value. • Death benefit selected by the policy owner The policys adjustable death benefit also provides desired flexibility. As the policy owner goes through the different stages of life, responsibilities change ?causing covera
