In many ways, universal life offers the best features of both term and whole life. Some consumers opt for term life because they can purchase a more appropriate policy when their life insurance needs change down the road. In that case, universal life can offer you that same flexibility by allowing you to vary your death benefit according to your current needs. On the other hand, other life insurance shoppers decide on whole life for the cash accumulation benefits and tax-deferred investment growth. Universal life can actually provide both of these benefits. Read on for more information on the basics of universal life coverage and the pros and cons of such a policy.
Types of Universal Life
Though most universal life policies have a flexible-premium schedule, this is just one of three varieties of this type of coverage. Each of the three forms of universal life is explained below.
Single premium. The policyholder pays for the cost of coverage up front, making just one large payment when the policy is created. The coverage then remains in force until the cost of insurance (COI) charges deplete the policy’s account.
Fixed premium. The policyholder makes regular payments for the coverage, usually over a limited period of time (e.g., ten years). After the scheduled payments are complete, the policy is considered paid in full and will remain in force despite the cessation of payments. This structure of periodic premium payments is similar to that of a health insurance policy.
Flexible premium. This is the most popular form of universal life. In this schedule, the policyholder decides how much he/she wants to pay when the premiums are due. Some companies also offer flexible premium universal life with a significant up-front deposit, after which policyholders make payments sporadically.
Advantages of Universal Life
The most appealing feature for most people is the flexibility. Not only can you change your death benefit as your coverage needs vary, but you can also choose the level of premiums you want to pay. The flexibility in the premium payments schedule allows you to select your premiums to accommodate your present financial circumstances.
Drawbacks of Universal Life
Policyholders can’t make minimal payments on a universal life policy for an extended period of time and still expect to have life insurance coverage. Inadequate payments could leave the insured without protection eventually. Likewise, there are no guarantees with universal life’s cash value accumulation. If the insurer’s investments do poorly, so does your policy. As the cash value of your policy drops, the premiums requisite to maintain coverage will increase.
Upgrade Your Account | Unlock More Features | SAW.com
We Have Decades of Experience In Digital Asset Acquisitions
Your domain is one of the most mission-critical purchases your business will ever make. Speak with us
about domain brokerage and work with our experts to acquire your desired assets for the best price –
delivered with an end-to-end service.
Budgeting
Brand Protection
Strategy
Appraisals
Acquisition
Transfer & Registration
Market Research
Contract Negotiation
WE’VE SECURED PREMIUM DOMAINS FOR SOME OF THE WORLD’S BIGGEST BRANDS
WHY WE’RE TRUSTED
We’ve Done Half a BILLION Dollars of Domain Deals
Domain Transactions
1,000s
Domain Name Sales
$550M+
Years of Experience
15+
WHAT PEOPLE SAY
Real Success, Real Clients
"When starting a company, the Saw.com broker service team are some of the first people I call. A memorable
name, and the domain and social handles behind it, creates a huge amount of brand equity right out the gate
— no matter how big or how small your company is. From diapers.com to jet.com (and many more to come!) the
Saw.com domain broker team has helped my companies be seen."
MARC LORE
Serial Entrepreneur
"We have worked with Saw.com since their inception and would not work with anyone else. They help us in all
facets of business - from sales and transfers to renewals, SSL issues and any other matters that may arise.
You will not find a better, more trustworthy business that has maximized our profits."
FUTURE MEDIA ARCHITECTS
WHY CHOOSE US?
Nobody Does Domain Deals Better
Deep Experience
Our team is full of domain experts and our CEO, Jeffrey Gabriel, has contributed to $550m in domain transactions including blockbuster sales like the record-breaking $13m for Sex.com.
Intimate Service
We only work with individuals and corporations who we feel can gain the most impact from our services. We're not a high-volume shop, so you never become "a number on the spreadsheet".
Secure Marketplace
Saw.com's global marketplace brings buyers and sellers together for seamless domain transactions. We have more domain data than any other platform, with 250,000+ names listed for sale.
Quality Brokers
Work with our brokers - the brightest minds in the business and stone-cold killers when it comes to buying and selling domains. We speak English, Spanish, Chinese, Russian, and more.
Ready To Give Your Brand a Boost?
Acquire the best domain for your business with Saw.com, one of the world’s leading brokerage firms.
We Have Decades of Experience In Digital Asset Acquisitions
Your domain is one of the most mission-critical purchases your business will ever make. Speak with us
about domain brokerage and work with our experts to acquire your desired assets for the best price –
delivered with an end-to-end service.
Budgeting
Brand Protection
Strategy
Appraisals
Acquisition
Transfer & Registration
Market Research
Contract Negotiation
WE’VE SECURED PREMIUM DOMAINS FOR SOME OF THE WORLD’S BIGGEST BRANDS
WHY WE’RE TRUSTED
We’ve Done Half a BILLION Dollars of Domain Deals
Domain Transactions
1,000s
Domain Name Sales
$550M+
Years of Experience
15+
WHAT PEOPLE SAY
Real Success, Real Clients
"When starting a company, the Saw.com broker service team are some of the first people I call. A memorable
name, and the domain and social handles behind it, creates a huge amount of brand equity right out the gate
— no matter how big or how small your company is. From diapers.com to jet.com (and many more to come!) the
Saw.com domain broker team has helped my companies be seen."
MARC LORE
Serial Entrepreneur
"We have worked with Saw.com since their inception and would not work with anyone else. They help us in all
facets of business - from sales and transfers to renewals, SSL issues and any other matters that may arise.
You will not find a better, more trustworthy business that has maximized our profits."
FUTURE MEDIA ARCHITECTS
WHY CHOOSE US?
Nobody Does Domain Deals Better
Deep Experience
Our team is full of domain experts and our CEO, Jeffrey Gabriel, has contributed to $550m in domain transactions including blockbuster sales like the record-breaking $13m for Sex.com.
Intimate Service
We only work with individuals and corporations who we feel can gain the most impact from our services. We're not a high-volume shop, so you never become "a number on the spreadsheet".
Secure Marketplace
Saw.com's global marketplace brings buyers and sellers together for seamless domain transactions. We have more domain data than any other platform, with 250,000+ names listed for sale.
Quality Brokers
Work with our brokers - the brightest minds in the business and stone-cold killers when it comes to buying and selling domains. We speak English, Spanish, Chinese, Russian, and more.
Ready To Give Your Brand a Boost?
Acquire the best domain for your business with Saw.com, one of the world’s leading brokerage firms.
Understand Accidental Death Insurance
There are many factors you need to take into account when you discuss insurance policies. There might even be some policies you are not too familiar with. How about accidental death insurance? Do you know what this type of insurance will do for you and your family in the result of an accidental death? Before [...]
