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As we mentioned in the previous article, the life (UL) was introduced in 1981-82, in general, in response to an environment of great historical interest and a consumer awareness of the value of the holdings of self-directed, because ' traditional insurance could not compete with short-term interest rates.
Here are some features as follows
1. Account Value
Account the value of a universal life energy plan is the sum of the gross value of all investment accountsPolicy, including revenue, net of expenses of the current month.
2. Surrender value
The surrender value of a universal life energy plan is the value of the current account, less loans and delivery costs. Surrender charges are usually a multiple of the minimum premium required for the common back-end fees are larger front-end fee.
3. Scholarships and grants
The awards are the amounts necessary to pay the cost of insuranceFees and other expenses for the policy. The deposits are excess funds, which are of a pure investment.
4. Death Benefit Options
The amount of death benefit payable under the options of a universal life policy based on 1 of 4 different
a) level of death: level of coverage for the duration of the policy.
b) in case of death-level cumulative gross: death benefit increases the gross amount of the deposit policy.
c) the level of deathbenefit, indexed: An increasing number of deaths each year, a certain percentage.
d) Provision of death and more aware of value: the total amount of death is always equal to change the amount of initial capital plus the gross value. This is the most popular voted 90% of universal life insurance, property owners, because
the gross account value is tax free.
5. Premium flexibility
The deposit premium, plus investment income must be sufficient toPay all costs and expenses, that the continuation of politics, tax free life insurance, flexible premium.
Universal Life is not for every consumer
There is flexibility in administrative costs tend to be significantly higher than expected throughout the traditional life and variable nature of the plan may make it unsuitable for customers want to ensure
I hope this information helps. If you need more information,Read the complete series of theme on my home page
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