Universal Life Insurance Guide 1.1

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This app contains about Universal Life Insurance. Learn all of it and you will find tips and knowledge to make easier understanding the details about Universal Life Insurance.

Some of you have probably heard of universal life insurance policies used for insuring life. What are they all about and what benefits do universal policies bring to their holders? Well, simply put, universal insurance polices are insurance products that provide coverage for a person's entire life.


In this app, we will disscuss the following topics:

• Universal Life Insurance and How to Know if it's the Choice for You
• Indexed Universal Life Insurance For Retirement Income
• 5 Reasons to Purchase an Indexed Universal Life Insurance Policy
• What's the Difference Between Whole Life and Universal Life Insurance?
• Universal Life Insurance - Insider’s Guide to Benefits, Pros & Cons
• Indexed Universal Life Insurance - Is it a Risk?
• What is Variable Universal Life Insurance?
• Disadvantages of Getting Universal Life Insurance
• How Universal Life Insurance Works
• Should I Buy Indexed Universal Life Insurance At Age 45?

And much more..


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- Easy & simple guide book app
- Periodic update of contents
- Support Offline Database
- Shareable contents
- You can ask questions from our experts
- Send us your suggestions and we will add it


A little explanation about Universal Life Insurance:

Universal life insurance is permanent life insurance with an investment savings element and low premiums like term life insurance. Most universal life insurance policies contain a flexible premium option. However, some require a single premium (single lump-sum premium) or fixed premiums (scheduled fixed premiums).

A universal life insurance option provides more flexibility than whole life insurance. Policyholders have the flexibility to adjust their premiums and death benefits. Universal life insurance premiums consist of two components: a cost of insurance (COI) amount, and a saving component, known as the cash value.

As the name implies, the cost of insurance is the minimum amount of a premium payment required to keep the policy active. It consists of several items rolled together into one payment. COI includes the charges for mortality, policy administration, and other directly associated expenses to keeping the policy in force. COI will vary by policy based on the policyholder's age, insurability, and the insured risk amount. Collected premiums in excess of the cost of insurance accumulate within the cash value portion of the policy. Over time, the cost of insurance will increase as the insured ages, however, if sufficient, the accumulated cash value will cover the increases in the COI.


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