Comments on: Guaranteed Universal Life Insurance – A Life Long Term Insurance http://www.beamalife.com/blog/life-insurance/guaranteed-universal-life-insurance-a-term-insurance-for-a-lifetime-of-protection/ Risk Management | Wealth Creation | Tax Advantage Thu, 01 Jul 2010 11:23:01 -0400 http://wordpress.org/?v=2.9.2 hourly 1 By: Denise Mancini http://www.beamalife.com/blog/life-insurance/guaranteed-universal-life-insurance-a-term-insurance-for-a-lifetime-of-protection/comment-page-1/#comment-456 Denise Mancini Tue, 03 Nov 2009 21:20:31 +0000 http://www.beamalife.com/blog/?p=230#comment-456 Before deciding on a Universal Life Policy, it is important to understand it in detail. Universal life insurance basically has three different components – the death benefits, the cash value or investment component and the expense element. Basically, as the premiums are paid, they are credited to your policy after deducting administrative charges. Death benefit costs or any applicable rider or supplement costs are deducted monthly from the policy value. Along with this, the interest from the cash element is credited to the policy. In case this cash value of the policy is surrendered, it will be returned to the policyholder minus any applicable surrender charges. But, unlike whole life insurance, this type of policy differentiates between each component and allows the policyholder the flexibility (with certain regulations) to modify the premium rate or face amount in the event of any change of circumstance or unplanned requirements. Denise at AccuQuote Disclaimer: I work for AccuQuote and this is my personal opinion. Before deciding on a Universal Life Policy, it is important to understand it in detail. Universal life insurance basically has three different components – the death benefits, the cash value or investment component and the expense element. Basically, as the premiums are paid, they are credited to your policy after deducting administrative charges. Death benefit costs or any applicable rider or supplement costs are deducted monthly from the policy value. Along with this, the interest from the cash element is credited to the policy. In case this cash value of the policy is surrendered, it will be returned to the policyholder minus any applicable surrender charges. But, unlike whole life insurance, this type of policy differentiates between each component and allows the policyholder the flexibility (with certain regulations) to modify the premium rate or face amount in the event of any change of circumstance or unplanned requirements.

Denise at AccuQuote
Disclaimer: I work for AccuQuote and this is my personal opinion.

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