Does Universal Life Insurance Work?

1. 

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   Steve Savant

   Syndicated Financial Columnist, Host of the weekly talk show Steve Savant's Money, the Name of the Game, Scottsdale Arizona

   Universal life insurance has expenses and fees: front end premium load, administration fee, policy fee and a charge for the cost of insurance. Once those charges are assessed, the remaining premium is credited with earnings depending upon the crediting method: interest rates, indexing or separate sub accounts (which can lose money.)

   Answered on August 15, 2013

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2. 

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   BILL HANNA

   Agent, WMH Consulting LLC, Fort Worth, Texas

   Universal Life Insurance can work. I recommend you have a conversation with your independent life agent to determine if it best suits your needs. Ask them specifically about the fees , expenses and all other charges involved with this type of life insurance. Then you can make an informed decision if it will work for you...

   Answered on June 25, 2015

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