What Is Flexible Life Insurance?
12689 POINTSview profileTed RatliffOwner, SFS Associates,Usually this refers to a Universal Life Policy. A Universal Life policy is flexible in that you can vary your premium payments and death benefit. It is difficult to explain completely in this format, but essential with a UL you can skip payments (provided there is cash value in the policy), you can put more in or put less into the policy. Some people with a UL will put a portion of their Tax Refund into their policy each year, for example. This helps the cash value of the policy grow at a tax favored competitive rate of interest. You can also decrease your death benefit if you do not need as much insurance or if your health is good you can increase the death benefit.Answered on May 6, 2013flag this answer
15786 POINTSContact Meview profileBob VineyardPROFounder, Georgia Medicare Plans, Atlanta,GAFlexible premium life insurance comes in many flavors. It is a type of permanent life insurance, a variation of what has long been called "whole life" because the policy remains in effect until you die as long as you pay premiums, or there is enough cash reserve to continue the planned premiums.Answered on May 6, 2013+01+1 this answer
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0 POINTSContact Meview profileDavid RacichPROFountain Hills, ArizonaFlexible Life Insurance is the old moniker for universal life (UL). The adjective “flexible” was applied to UL because you could alter the premium and the death benefit within the parameters of the product line. That flexible was a consumer draw in light of the static and unalterable whole life insurance policy.Answered on May 27, 2013+01+1 this answer 0flag this answerview more answers by David Racich
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