Universal Life is an excellent option provided it is properly funded. Because of the nature of the products flexible premium feature, a Universal Life Policy can be sold at a premium not designed to keep the policy in force for the persons lifetime without having to increase the amount of money a person needs to put in to keep the policy in force.
Universal life, like any financial product should be proved suitable for the potential client.
There are several reasons why universal life (UL) insurance could be right for you. To make sure, you need to create a financial profile that establishes your risk tolerance and confirms your economic goals. Universal life insurance has four policy types: guaranteed UL for indemnification and three current assumption ULs for income based on crediting options like interest rates, indices and separate subaccount using equities and bonds investments.
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There are several reasons why universal life (UL) insurance could be right for you. To make sure, you need to create a financial profile that establishes your risk tolerance and confirms your economic goals. Universal life insurance has four policy types: guaranteed UL for indemnification and three current assumption ULs for income based on crediting options like interest rates, indices and separate subaccount using equities and bonds investments.