Types Of Universal Life Insurance Rates

There are two main types of universal life insurance policies. The first one is variable Universal Life Insurance or VUL which allows the policy holder to have his or her cash value distributed among several other accounts which operate same funds. Since investment tools such as stocks and bonds are used, VUL has greater potential improvement for cash value even though it comes with increased risks. This can especially be beneficial to parents who decide to invest on their childrens education as it ensures continuity of provisions for a childs educational needs even after a parent passes away. At the same time, universal life insurance rates are flexible with numerous options.

Index universal life provides principle protection to the policy holders cash value while charging less fees on administrative and insurance costs. At the same time, this type of policy gives freedom to the holder to make deposits either in an equity index or a fixed account. It can be considered by those who wish to leave money behind for certain relatives or charities when they die. A non-smoker too can consider this policy, as the universal life insurance rates are lower for them than they are for a smoker. To learn more about life insurance rates visit our website.

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