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Saving with life insurance. Page 2

Economists and marketing personnel tend to view a level-premium whole life contract as a divisible

Hot Topics

What is the difference between a Guaranteed and Reviewable life insurance policy?: With a “Guaranteed” policy the Life Company guarantees that it will never increase the premium.....
How does my age affect my life insurance premium?: Age is one of the most influencing variables that affect the premium for any given form of life insurance policy.
How is a claim made under a life insurance policy?: All claims are made against the Life Company who issued your policy. You will find details of the claims procedure within the policy documents they provide with your policy and in the key features document.
Top Tips from Express Life Insurance: 1. Always write a Life Insurance policy “in Trust”......

contract providing financial protection to the policyowner's beneficiaries, with other contract benefits available, including cash surrender and loan values. A policyowner may discontinue the insurance and surrender the policy for its cash values.

Alternatively, a policyowner may borrow from the insurer an amount up to the cash value, at a contractually stated rate of interest, using the cash value as collateral.

The distinguishing features of universal life policies are:

1- their flexibility
2- their transparency.

These policies are flexible in that they permit policyowners, within limits, to increase ( cheap life insurance ) or decrease premium payments as they wish also to increase or decrease the policy face amount.

The transparency means that the three elements of life insurance ( mortality, interest, expenses ) are identified and disclosed to the customers.
The savings component of the life insurance policies is a ( loans ) direct function of the premium payments made by policyowners.