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WHAT IS UNIVERSAL LIFE INSURANCE
Universal life policies have the following characteristics;
__ Option to design either level or increasing death benefit
__ Even though you don't direct the investments in your policy, some of the risk is shifted to you
__ You have flexible premiums
__ You are able to withdraw some of your cash value without having your withdrawal treaded as a policy loan
Even though above characteristics seem appealing to the people, the internal structure (how cash value is generated, how death benefit is calculated, etc) are much more complex than whole life policies, and further more different insurance companies may have different rules on their policies. You should definitely scrutinize this type of policy to understand completely and compare your options with other types of policies before purchasing it. A few subjects that you should fully understand are; how you have to fund your policy, what the withdraw features are, what is the target premium, how is the death benefit designed, etc...
