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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.
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∙ 15y ago
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Can variable universal life insurance be converted into a fixed account?
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.
Which combines investment choices with Term Insurance?
UVWL- Universal variable whole life ^_^
Does convertible term policy accumulate cash value?
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.
What is the difference of universal life and variable universal life?
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.
What is it called when a insurance policy is paid up?
"Paid up" is actually the terminology used in the insurance industry when describing a policy that no longer requires any premiums. When a policy is "paid up", there are no further premiums required for the policy to continue on for what should be lifetime. This can only occur with permanent forms of Life insurance such as Whole Life, Universal Life and Variable Universal Life.
Four Types Of Permanent Life Insurance?
universal variable universal whole variable whole
Do you need a security license to see variable universal life insurance?
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.
What is the primary difference between universal life and variable universal life?
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.
Can variable universal life insurance be converted into a fixed account?
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.
What is the difference between variable life insurance and universal life?
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.
What products are offered by agents under life insurance?
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 is special about variable universal life insurance?
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.
What is the name of the life insurance policy that only a securities broker can offer?
Variable Universal Life (VUL)
What type of life insurance policies does MetLife provide?
There are several types of life insurance policies available at MetLife including Term Life, Whole Life, Universal Life, Variable Universal Life and Survivorship Life.
Which combines investment choices with Term Insurance?
UVWL- Universal variable whole life ^_^
What life policy offers the owner investment in products such as money-market funds long-term bonds and equities.?
Variable/Universal
What does it cost to borrow from a variable universal life insurance policy?
the interest rate is stipulated in writing in the life insurance policy
