Flexible Premium Adjustable Life Insurance is a policy usually called Universal Life but some companies may use different names. This type of policy is basically a term life insurance policy with an interest bearing side fund as part of the policy. The mechanics are that you can pay any premium above the minimum premium and within federal tax limits. You can change the premiums and the amount of insurance which makes it a very flexible policy. The trick is that as with term insurance the cost of insurance goes up as you age so you must pay more than the cost of insurance expecially in the beginning or the policy always has a danger of running out of money and the insurance cancelling. This type of policy looks good when interest rates are high but is very dangerous when rates drop.
should the buyer of flexible premium adjustable universal life insurance take the interest monthly or quarterly or shoule they turn it over
explain flexible premium multifunded life ins.
Its a Universal life insurance Policy.
A flexible premium multi-funded life means that it is a term life insurance. Aside from that, it has a side fund that grows and which is tax deferred.
One would choose adjustable life insurance because it is the most stable and flexible type of life insurance. It can be called as "more for less" because of the features it provides for a less cost.
should the buyer of flexible premium adjustable universal life insurance take the interest monthly or quarterly or shoule they turn it over
explain flexible premium multifunded life ins.
Its a Universal life insurance Policy.
The type of life insurance that incorporates flexible premiums and an adjustable death benefit is called universal life insurance. This policy allows policyholders to adjust their premium payments and the death benefit amount, providing greater flexibility compared to traditional whole life insurance. Additionally, it accumulates cash value over time, which can be accessed during the policyholder's lifetime.
A flexible premium multi-funded life means that it is a term life insurance. Aside from that, it has a side fund that grows and which is tax deferred.
Flexible Premium Adjustable Life Insurance is a policy usually called Universal Life but some companies may use different names. This type of policy is basically a term life insurance policy with an interest bearing side fund as part of the policy. The mechanics are that you can pay any premium above the minimum premium and within federal tax limits. You can change the premiums and the amount of insurance which makes it a very flexible policy. The trick is that as with term insurance the cost of insurance goes up as you age so you must pay more than the cost of insurance expecially in the beginning or the policy always has a danger of running out of money and the insurance cancelling. This type of policy looks good when interest rates are high but is very dangerous when rates drop.
One would choose adjustable life insurance because it is the most stable and flexible type of life insurance. It can be called as "more for less" because of the features it provides for a less cost.
Adjustable whole life insuranceAdjustable whole life insurance allows you to vary your coverage as your insurance needs change. You normally choose the face amount you need and the premium you want to pay, and the company calculates a plan that provides coverage for your request. The result could be any plan from a term policy with a short period to a limited-payment whole life policy. You can also choose the type of plan and face value you want, leaving it to the company to calculate the premium rate needed. Also known as flexible premium adjustable life insurance, adjustable life insurance is recommended for those who want flexibility with their insurance policy along with the cash value benefits and protection. As the family and circumstances change over time, the insurance holder can customize the coverage and modify payments and terms. Along with the investment component of such a policy, other benefits include the ability to modify the term of coverage, increase or decrease the premium rate, change the term of the policy and lower or raise the face amount.
WHAT???? Updated: I think the asker meant what IS an adjustable target LI policy. An adjustable premium life insurance product is universal life. These terms are synonomous. The feature of this type of product is that the insured can pay more or less (not less than the minimum premium in the first five yrs of policy) and thereby increase the death benefit or the length of guarantee. The target premium is a amount based upon the calculations made at the time of the illustration. It takes into account the premiums, death benefit and product specs. Target premium is sometimes called the commissionable premium, because the agent's commissions for that policy are based off of it.
single premium life insurance: Single premium life insurance is a form of life insurance that's paid with one upfront lump-sum premium. Once you've purchased a single premium policy, you would receive a permanent death benefit that extends until you die.
The benefits from a universal life insurance policy is that is offers flexible premium payments and death benefits. It also gives you different cash value options that can be invested in many ways.
Yes, you can. It's called Single Premium Life Insurance. With single premium life insurance coverage one premium payment is made and the life insurance policy is fully paid up with no further premiums required.