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Adjustable life insurance, also known as universal life insurance, offers more flexibility. The policyholder can change […] The post How an Adjustable Life Insurance Policy Works appeared first ...
Universal life insurance, sometimes called adjustable life insurance, adds flexibility by allowing policyholders to adjust death benefits and premium payments. This policy type might appeal to ...
The advantage of the universal life policy is its premium flexibility and adjustable death benefits. The death benefit can be increased (subject to insurability), or decreased at the policy owner's request. The premiums are flexible, from a minimum amount specified in the policy, to the maximum amount allowed by the contract.
Universal life insurance addresses the perceived disadvantages of whole life—namely that premiums and death benefits are fixed. With universal life, both the premiums and death benefit are flexible. With the exception of guaranteed-death-benefit universal life policies, universal life policies trade their greater flexibility for fewer guarantees.
The post How an Adjustable Life Insurance Policy Works appeared first on SmartReads by SmartAsset. Life insurance can supply financial protection for your loved ones in case of your untimely ...
Variable life policies: These have a guaranteed death benefit and cash value—but you can invest the cash value to earn higher returns. The investments do come with risk—and may even lose value ...
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