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How does universal life insurance compare to term and other forms of life insurance?
Wiki User
∙ 14y ago
Universal Life allows you to vary the amount of your premium by using part of the accumulated earnings to cover part of the premium cost. You can also vary the amount of the death benefit. There are higher administrative fees associated with this plan due to the flexibility. Term insurance offers a death benefit but no cash value. Whole life insurance is more expensive, but offers a death benefit and cash value. There are also a lot of fees associated with whole life that most people don't realize due to the complex investment formulas. Variable life insurance builds up a cash reserve that can be invested in the options offered by the insurance company.
Wiki User
∙ 14y ago
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How does Universal life insurance compare to other top life insurance companies?
Universal life insurance is reasonable compared to other top life insurance companies. However, I prefer Great West Life. I find the customer service to be first rate, the premiums reasonable, and policy options plentiful.
How does universal life insurance differ from other forms of life insurance?
Universal life insurance means you will pay the same premium until death, where as with term life insurance you will pay a certain premium for a period of time and then may or not be offered the same premium again for another term.
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