Without knowing your circumstances, wants, needs and desires - the question can't be answered. I would suggest that you get proposals for both and then make a decesion. I agree with the previous person's answer. Generally speaking, Variable has a higher upside potential but no minimum floor. Universal Life has a guaranteed floor, but a smaller upside potential. A variable universal life policy is more subject to market risks. The policy holder is allowed to monitor a portion of the premium and direct it to stocks and bonds of his choice, within the company limits. If you have a confident understanding of stocks and bonds this may be a policy for you to consider. For more information please refer to Types of Life Insurance.
universal variable universal whole variable whole
The primary difference is how the cash value is invested. Variable universal life means it is invested in stocks and mutual funds and a "fixed" universal life is usually dependent on interest rates. Both carry high risk, but a fixed universal life policy gives you a guarantee that it will not go below a certain interest rate, while variable universal policies usually do not.
Yes. To sell variable universal life insurance you will need a Series 63 Securities License, a variable life insurance license, and a regular life insurance license.
Variable universal life insurance is not an account. It is a policy that invests in separate accounts in an attempt to earn higher returns than a fixed policy. A variable universal life insurance policy can be converted into a different type of life insurance policy but not a different kind of account.
Nothing is the difference. Universal Life can be fixed or variable. Variable simply means that the cash value is invested in stocks or mutual funds to create a fast (sometimes slower) cash value. With a fixed Universal Life product, the cash value can be linked to an interest rate or an Index.
Typical products offered by agents in this market include: whole life products; term products, such as universal, variable, and universal variable life insurance; and annuities
What's special about variable universal life insurance is that it builds cash value. You can read more about this type of insurance online at the Wikipedia website. Once on the page, type "Variable universal life insurance" into the search field at the top of the page and press enter to bring up the information.
Variable plays the market like a Mutual fund. And universal life sits still and gains interest without the market investment.
There are several types of life insurance policies available at MetLife including Term Life, Whole Life, Universal Life, Variable Universal Life and Survivorship Life.
Variable Universal Life (VUL)
UVWL- Universal variable whole life ^_^
the interest rate is stipulated in writing in the life insurance policy
Term insurance does not build any cash value until it is converted into a type of permanent product that does - whole life, indexed universal life, current assumption, variable universal life.
variable life insurance for clients age 75 and over acknowledgement letter
UL policies apply a stipulated interest rate to the cash value, where VUL policies have a selection of mutual funds to choose from which can go up or down with the stock market.
Variable life insurance is a smart investment for you and your family. Two of the more reputable providers for this type of insurance are Metlife and Nationwide.
Mass Mutual Financial Group offers several different types of life insurance. They offer Term, Whole life, Universal and Variable universal life insurance to individuals and families.
Universal Life is called only Universal Life! Universal Life 1 may just be a name given by the marketing department at an insurance company. mcdlife.com
The premiums will vary depending on your age and other factors. I would speak with an insurance professional.
If you want to compare multiple quotes you should check out Matrix Direct. Shopping for life insurance can be tough.
Universal Life insurance has variable premiums built into the policy (whether traditional Universal Life or Variable Universal Life). However, many people end up paying less than they need to and the policies don't work out the way they planned. If you do a Universal Life policy, make sure you have a trustworthy agent. As for variable face amounts, some term policies have built in options to enable increasing the face amount of the policy at certain points in time. This may also be an optional rider on some policies, but there is a cost to it. This can be a good idea if budget doesn't allow for the appropriate face amount. Often insurance companies will allow you to reduce the face amount of a policy and get a reduced premium. Permanent insurance (Whole Life and Universal Life) have variable face amounts based on dividends and interest that may add to the face amount over time. Feel free to ask more. Brian Lombardo, CPA, Agent
While Variable Universal Insurance is flexible and covers a death and burial insurance, it can be quite expensive, so you must decide what you are willing to pay.
Variable universal is not as reliable as allstate. Allstate has a very fine state of the art business. As well as Universal insurance but is most likely to depend more on the money you spend with them to how much your under coverage.
Universal Foundation for Better Living was created in 1974.