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It depends on the policy, but in many cases yes. Universal Life has many of the same characteristics of Whole Life insurance (i.e.- cash value)but is "technically" speaking Term Life that is renewed on a regular basis like every 5 yrs or even yearly. If you are unsure whether the price of your policy premiums will increase you can check the "cost index" page of your policy and you should be able to see if the price increases over time.
What else can I help you with?
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
How much does it cost to add an occasional driver to your insurance policy?
It really depends on what your insurance policy is.
What is a waiver of cost rider?
In Utah a Waiver of Cost Rider is found in some Universal Life policies; it removes the requirement for the Policy owner to pay the cost of insurance (but not the cost to grow Cash Value) if the Insured becomes totally disabled.
Can a policyowner change the universal life cost of insurance rates?
no its set by the insurance companys
What kind of life insurance policy offers the option to surrender the insurance and regain some of the cost of the policy?
Term Life Insurance
What is an auto-insurance quote?
It's the cost of the insurance policy that is "quoted" to you by the insurance agency.
What is the difference between universal life insurance and the other alternatives?
Universal Life is a type of permanent life insurance based on a cash value. That is, the policy is established with the insurer where premium payments above the cost of insurance are credited to the cash value. The cash value is credited each month with interest, and the policy is debited each month by a cost of insurance (COI) charge, and any other policy charges and fees which are drawn from the cash value if no premium payment is made that month. The interest credited to the account is determined by the insurer; sometimes it is pegged to a financial index such as a bond or other interest rate index.
What is flexible premium life insurance?
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.
Do skylights increase the cost of homeowners insurance?
No. Skylights would not effect the cost of homeowners insurance.
What are the options for life insurance before a cancer diagnosis?
Before a cancer diagnosis, the options for life insurance include term life insurance, whole life insurance, and universal life insurance. It is important to apply for life insurance before a cancer diagnosis as it may impact your ability to get coverage or affect the cost of the policy.
Does car insurance cover scratches?
It will depend on the number and depth of the scratches and your insurance policy. In most cases, by the time you pay the deductible and the possible increase in rates, it would cost you too much to have the insurance cover getting them fixed.
What is the average cost for a typical life assurance policy?
The average cost of a typical life insurance policy can very based on the age and overall health of the person taking out the life insurance policy. For example, some insurance companies will give individuals who exercise regularly a discount on insurance.
