Univeral Life Insurance
Universal life insurance is a popular type of insurance for those looking to ensure their families and loved ones are taken care of in the event of any unforseen event such as death. The policy itself is a flexible premium that is adjustable and accumulates in value. Univeral life insurance allows you to change how much you want to be covered for almost at any time.
The account cash value of the universal life insurance policy is credited each month with the interest earned and then is debited the cost of insurance if no insurance premium payment is made. UL insurance can be difficult to understand with all the flexible options and choices and experts recommend consulting with insurance agents to help understand.
As of 2007, the current tax laws regarding life insurance benefits and their proceeds are tax free for most situtations.
Wikipedia
The account cash value of the universal life insurance policy is credited each month with the interest earned and then is debited the cost of insurance if no insurance premium payment is made. UL insurance can be difficult to understand with all the flexible options and choices and experts recommend consulting with insurance agents to help understand.
As of 2007, the current tax laws regarding life insurance benefits and their proceeds are tax free for most situtations.
Wikipedia