Results for tag: "Universal Life Insurance"

Universal Life Insurance (ULI) is a type of permanent life insurance that offers flexible premiums, adjustable death benefits, and cash value accumulation. It is designed to provide lifelong protection and is often used as an estate planning tool. ULI policies are typically more expensive than term life insurance, but they offer more flexibility and the potential for cash value growth. ULI policies are typically divided into two parts: the death benefit and the cash value. The death benefit is the amount of money that will be paid out to the policyholder's beneficiaries upon their death. The cash value is the amount of money that accumulates in the policy over time and can be used to pay premiums or taken out as a loan. ULI policies are often used to supplement retirement income, provide tax-advantaged savings, and provide a source of liquidity for estate planning. They can also be used to provide long-term care coverage and to fund charitable giving. Some companies in the ULI market include Prudential, MetLife, Northwestern Mutual, New York Life, and Transamerica. Show Less Read more