Universal Life Insurance is a all in one Insurance
policy. Cost is high, But it is awell covered Life
Insurance.
What is Universal Life Insurance?
A flexible premium life insurance policy under
which the policyowner may change the death
benefit from time to time (with satisfactory
evidence of insurability for increases) and
vary the amount or timing of premium payments.
Premiums (less expense charges) are credited to a
policy account from which mortality charges are
deducted and to which interest is credited at rates,
which may change from time to time.
What is Whole Life Insurance?
A basic type of permanent life insurance which
can provide lifetime protection at a level premium.
Premiums must generally be paid for as long as the
policy is in force.
4 comments:
Nice blog
I do have heard only about two type of life insurance policy i.e term and whole. This is new to me but seems to be the most assuring one. All though it is similar to the permanent one but do have much more benefits and flexibility than the whole plan.
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