Yes, there should be no problem with that.
This life insurance policy has two different types of death benefits.
Liability Coverage under an auto policy has what components: Medical payments Collision Comprehensive None of these Liability Coverage under an auto policy has what components: Medical payments Collision Comprehensive None of these Liability Coverage under an auto policy has what components: Liability Coverage under an auto policy has what components:
What are the benefits of universal life insurance, and what are the possible drawbacks of this type of policy
Universal Life
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.
Is $241 a month too much to pay for a $200,000 universal life insurance policy?
the investments gains from a universal life policy uaually go towards
Fiscal policy
the interest rate is stipulated in writing in the life insurance policy
A universal life insurance policy is a cash value type of life insurance policy. With universal life insurance, you policy may build up cash values over time, similar to a whole life policy, but typically less expensive than whole life insurance. Another feature of some universal life insurance policies is called a "no lapse guarantee" With this feature, as long as you pay your premiums, the policy is guaranteed to last to age 100 and beyond depending on the specific carrier you choose. Compare this to a whole life insurance policy where the premium requirements may vary and depend on how dividends and interest rates perform.
Yes, check the policy or with your agent or company on how much. Do you have the illustrations that were done when policy was issued or annually?