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The premiums are flexible, from a minimum amount specified in the policy, to the maximum amount allowed by the contract. The primary difference is that the universal life policy shifts some of the risk for maintaining the death benefit to the policy owner. In a whole life policy, as long as every premium payment is made, the death benefit is ...
Universal life insurance offers permanent coverage with a unique twist—flexibility.
The main pros include flexibility, cash value growth, adjustable death benefits and other tax benefits. Flexibility. Universal life insurance offers flexibility, allowing you to adjust your ...
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 ...
The standard set was twofold: to define a maximum amount of cash value per death benefit and to define a maximum premium for a given death benefit. If the maximum premium is exceeded the policy no longer qualifies for all of the benefits of a life insurance contract and is instead known as a modified endowment contract or a MEC.
Flexible death benefit options: ... Flexible premium payments: ... Adjustable death benefit: You have the flexibility to increase or decrease the death benefit. Increasing it may require a medical ...