There is no one set guideline regarding what to pay for life insurance, and that is especially true of universal life insurance. UL is very flexible and can be designed to fit many different budgets, needs, and goals.
E.g. You may want to buy universal life as a relatively inexpensive way to have permanent coverage for the rest of your life. Or you may want to buy IUL (indexed universal life) as a way to accumulate cash value to borrow from during retirement. In the first scenario, you would put in the minimum needed to guarantee that the policy will still be in effect when you die. In the second scenario, you would pay large premiums into your policy so that there is enough cash to supplement your retirement income later on.
Aside from these considerations, universal life insurance premiums also takes into account your age, health factors, and tobacco use. So it is impossible to answer this for everyone. But a good life insurance agent is essential to helping you get the best possible price for a policy that will work well for your needs, desires, and budget.
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E.g. You may want to buy universal life as a relatively inexpensive way to have permanent coverage for the rest of your life. Or you may want to buy IUL (indexed universal life) as a way to accumulate cash value to borrow from during retirement. In the first scenario, you would put in the minimum needed to guarantee that the policy will still be in effect when you die. In the second scenario, you would pay large premiums into your policy so that there is enough cash to supplement your retirement income later on.
Aside from these considerations, universal life insurance premiums also takes into account your age, health factors, and tobacco use. So it is impossible to answer this for everyone. But a good life insurance agent is essential to helping you get the best possible price for a policy that will work well for your needs, desires, and budget.