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单词 Universal Life Insurance
释义

Universal Life Insurance
A type of flexible permanent life insurance offering the low-cost protection of term life insurance as well as a savings element (like whole life insurance) which is invested to provide a cash value buildup. The death benefit, savings element and premiums can be reviewed and altered as a policyholder's circumstances change. In addition, unlike whole life insurance, universal life insurance allows the policyholder to use the interest from his or her accumulated savings to help pay premiums.

Investopedia Says:
Universal life insurance was created to provide more flexibility than whole life insurance by allowing the policy owner to shift money between the insurance and savings components of the policy. Premiums, which are variable, are broken down by the insurance company into insurance and savings, allowing the policy owner to make adjustments based on their individual circumstances. For example, if the savings portion is earning a low return, it can be used instead of external funds to pay the premiums. Unlike whole life insurance, universal life allows the cash value of investments to grow at a variable rate that is adjusted monthly.

Related Terms:
Bank-Owned Life Insurance - BOLI
Cash Surrender Value
Death Benefit
Life Insurance
National Associations of Insurance Commissioners - NAIC
Permanent Life Insurance
Pre-existing Condition
Term Life Insurance
Variable Life Insurance Policy
Whole Life Insurance

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更新时间:2025/3/14 20:11:25