Universal life insurance

UNIVERSAL LIFE INSURANCE, pcfinancialgroup

UNIVERSAL LIFE INSURANCE Life insurance is designed to provide funds to your loved ones after you die, to help them maintain their standard of living, pay your final expenses, pay off mortgage loans or other debts or to provide legacy gifts to loved ones or organizations. Universal life insurance is a type of permanent life insurance policy with features not included in whole life or term life insurance policies. In addition to providing a death benefit, universal life insurance also provides flexible premiums, and includes a cash value savings component inside the policy. That cash value can be used for any number of reasons, such as supplementing your retirement income, paying for...

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Life Insurance: Universal-Life Insurance , VCE Publications, Virginia Tech

OverviewUniversal-life insurance was created to address many of the problems associated with whole-life insurance. To fully understand universal life, refer to Life Insurance: Whole-Life Insurance, Virginia Cooperative Extension publication 354-145, for some background information. One problem with whole-life insurance is its lack of flexibility. For instance, with whole life, what if the owner cannot make a premium payment? What if the owner wants to lower the death benefit because he or she does not need the same level of insurance anymore? Universal life provides options for both these concerns. A second problem with whole life is that it is much like a black box. The owner cannot see...

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Farmers New World Life Insurance Company Introduces Farmers Index Universal Life®

MERCER ISLAND, Wash., Sept. 8, 2015 /PRNewswire/ -- In response to consumer demand for more life insurance options that offer lifetime coverage with potential cash value growth, Farmers Life® has introduced the Farmers Index Universal Life policy. Farmers Index Universal Life combines the protection of permanent life insurance with a flexible premium and the opportunity for market-linked, generally income tax-deferred growth of the policy's cash value. Farmers Index Universal Life offers a choice of two indexed accounts, the S&P 500® , in addition to two fixed interest accounts. These options let customers take advantage of potential market gains because the policy's cash value can be...

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Universal Life Insurance

Definition Universal life insurance is a flexible-premium, variable benefit, life insurance policy that accrues value over time. Premiums on universal life policies consist of two components. The first goes to paying for the current cost of providing insurance, while the second component is used to fund a cash value account. Explanation The flexibility of universal life insurance allows the policyholder to vary the amount of life insurance as the need for income replacement changes. Universal life insurance policies, also known as UL policies, maintain a cash value, which can grow significantly over time. From the premiums paid on the policy, an administrative fee and the cost of insurance...

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Renovation gives Universal Life building second chance to uplift community

Renovation gives Universal Life building second chance to uplift community A beacon of black business from segregation through the civil rights era, Memphis' iconic Universal Life Insurance building is ready to shine again. Owners and architects Juan Self and Jimmie Tucker are closing in on completion of a $6.2 million renovation intended to create a showcase of history and sustainability and a collection of resources dedicated to growing disadvantaged businesses. The project’s completion comes nearly 95 years after Universal Life’s founding, 17 years after the building fell vacant, and a dozen years after black architects Self and Tucker bought the landmark. Self+Tucker Architects and...

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China suspends Foresea Life from selling universal life insurance - Reuters

SHANGHAI, Dec 6 (Reuters) - China’s insurance regulator has suspended Foresea Life, a unit of financial conglomerate Baoneng Group, from selling “universal life” products until it addresses problems in its management of customer accounts and information. Foresea Life has been aggressively wresting market share from bigger, listed peers by offering investors guaranteed-return, higher yielding products. It has built up stakes in a number of firms and played a key role in the takeover battle for China Vanke, funding a quarter of Baoneng’s 25 percent shareholding in the leading property developer. The China Insurance Regulatory Commission (CIRC) said on its website late...

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Indexed Universal Life: THE CASE FOR BUYING YOUNG

The Huffington Post recently ran an article highlighting the top 40 financial things everyone should know by the time they hit 40. The items ranged from the basic — creating a budget and pulling a free credit report — to the complex, like determining a health care proxy and assessing the tax implications of your retirement plan. And, of course, life insurance made the list. As the article points out, life insurance is important to everyone, even those who don’t have kids. And for young people, indexed universal life insurance (IUL) can offer benefits beyond just providing financial protection for loved ones in the event of a death. Here are three ways an IUL can benefit under-40 consumers:...

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Universal Life Insurance

/ Universal Life Insurance Universal Life Insurance Universal life is also a permanent life insurance product. The owner pays premiums that add to an accumulated value, and there is a death benefit if the insured dies. But, with universal life, premiums are flexible. The illustration indicates a suggested amount to pay in premiums, but the policy won’t lapse if a payment is missed. Instead, the owner decides when and how much to pay in premiums. When you look at a universal life policy illustration, you see projections of future accumulated values and death benefits for each year. Remember that the illustrated amounts are not guaranteed; projections are based upon current costs of insurance...

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Universal Life Insurance: How it Backfired, Mullooly Asset Management

Universal Life Insurance: How it Backfired – Transcript Tom Mullooly: In Episode 110, we’re going to talk about that ticking time bomb called Universal Life. Welcome to the Mullooly Asset Show. I’m your host, Tom Mullooly, and this is Episode Number 110. Thanks for tuning in. I want to talk about a Wall Street Journal article that was published recently discussing Universal Life. The headline was: Universal Life 1980s Sensation Has Backfired. And it’s backfired in a big way. The first thing I thought of when I saw the headline was: They still sell these policies? I didn’t think they even did that. Let me explain a little bit if you’re not familiar with...

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What is Universal Life Insurance? - Insurance Advantage

Universal Life Insurance is a type of permanent life insurance. It was created in the early 1980’s to take advantage of the rising trend of consumers’ interest in managing their own investments. No insurance product up until this point allowed for an active role for the consumer. Most types of life insurance were (and still are) passive; Once purchased, they are reasonably straightforward and require little ongoing management. Universal life, on the other hand, includes many moving components that provide choice and must be actively managed. Let’s examine what these components are: Death Benefit/Face Amount: Common to all insurance products, you, the consumer chooses the amount of...

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