How Does A Universal Life Insurance Work?

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   David RacichPRO

   Fountain Hills, Arizona

   Universal life is a flexible life insurance policy that can coverage your indemnification planning scenarios or can generate tax advantaged supplemental income for retirement. You pay your premium via the payment mode you select. The policy expenses are deducted from premiums paid (or cash values later on in the policy), then the earnings from the crediting method are applied. Keep in mind that there are surrender charges, policy loan costs and two sets of rates: current company practice and contractual guarantees. The two sets of rates cover the cost of insurance, policy fee, admin charges and front end premium loads.  
    

   Answered on May 28, 2013

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