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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.
Another feature of flexible death benefit is the ability to choose option A or option B death benefits and to change those options over the course of the life of the insured. Option A is often referred to as a "level death benefit"; death benefits remain level for the life of the insured, and premiums are lower than policies with Option B death ...
Since the death benefit is generally paid tax-free to beneficiaries, a life insurance policy can help heirs manage estate taxes without needing to liquidate assets, making it a strategic asset for ...
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.
A flexible premium deferred annuity offers a way to invest in an annuity, without having to pay a large lump sum premium all … Continue reading ->The post What Is a Flexible Premium Deferred ...
[1] Annuities can be purchased to provide an income during retirement, or originate from a structured settlement of a personal injury lawsuit. Life annuities may be sold in exchange for the immediate payment of a lump sum (single-payment annuity) or a series of regular payments (flexible payment annuity), prior to the onset of the annuity.
For premium support please call: 800-290-4726 more ways to reach us. Mail. Sign in. ... insurance provides a death benefit to your beneficiary if you die an accidental death or a partial benefit ...
An example is an AD&D policy provided in an initial nominal amount with premiums paid by another party (such as a small $1,000 AD&D policy offered to credit union members, with the premium paid for by the credit union itself), with higher elective benefits offered to members where the member must pay the additional premiums separately.