Whole life insurance cost

Is a universal life insurance the same as whole life insurance? - Quora

NO, but they are similar in the fact that they can (according to the insurance company)build up cash value over time from your premium payments. I will attempt to make this simple: The flexibility that a universal life policy provides is a key differentiator over whole life. As a result, universal life insurance premiums are typically lower during periods of high interest rates than whole life insurance premiums, often for the same amount of coverage. Another key difference would be how the interest is paid. While the interest paid on universal life insurance is often adjusted monthly, interest on a whole life insurance policy is normally adjusted annually. This could mean that during...

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