15 August 2014 0 Comments

The Flexibility of Universal Life

My previous entry dealt with how Universal Life (UL) could be structured to resemble a 20 year term policy.  This is just one of the flexibility features of Universal Life.  There might also be some flexibility in amount of death benefit, but here I’ll deal just with premium flexibility and access to cash value in [...]

12 August 2014 0 Comments

When You Want Term, But Conversion is the Only Answer

I previously discussed how converting term insurance works.  It’s when you decide you no longer want term insurance and you exchange your term policy for a permanent policy without having to provide any current personal information to the insurance company.  The new permanent policy is issued in the same underwriting class as the term based [...]

31 July 2014 0 Comments

When Feel Good Vanishes

Having discussed how the purchase of life insurance should, and usually does, produce an everlasting good feeling, I’d be less than honest if I didn’t admit that that is not always the case.  There are times when the life insurance purchaser becomes engulfed in buyer’s remorse, or at least uncertainty. “Did I buy the right [...]

30 July 2014 0 Comments

The Feel Good Factor

Buying a new car can make you feel good…until the new car smell wears off and you no longer bother to get it washed every week.  Moving into a new home always makes you feel good…until the newly escalated real estate taxes come due.  Partying with a bunch of your pals from college, reminiscing about [...]

22 July 2014 0 Comments

The Permanent Policy With No Cash Value

Whole Life Insurance is the original type of permanent life insurance.  The premium is level, the cash value grows every year and the death benefit is guaranteed for life.  That all makes sense.  How, then is it possible for a Universal Life policy to have a level premium with a death benefit guaranteed for life, [...]

31 May 2013 0 Comments

Understanding Indexed Universal Life (IUL)

This is my fourth consecutive entry on IUL.  That’s a lot of information on one policy type, but since IUL is receiving so much push from insurance companies and agents—and—since it has so much potential as well as so much room for misunderstanding, a potential buyer should be aware of what to look for. The [...]