1 answer

Explain the two death benefit options that are available to you when you purchase a universal...

Question:

  1. Explain the two death benefit options that are available to you when you purchase a universal life or current assumption policy.

  1.   Who bears the investment risk in variable life and universal variable life policies? How does this differ from investment risks borne by the buyer of a universal life policy?


Answers

Universal life insurance offers two death benefit options:

Option 1: It pays a straight death benefit, which includes the cash accumulated in the contract.

Option 2: It offers an increasing death benefit like when an individual die, the beneficiary gets the death benefit plus the accumulated cash value.

.

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