In a universal life policy.sometimes called interst sensitive life insurance, each premium is deposited into a fund, sometimes given a name like "savings element", as it received.The fund periodically (usuallly monthly) charged with mortality costs and expenses , and interst is credited to the fund.
Universal Life Insurance may be offered with fixed premiums, or as "flexible premium life insurance" , where the plan allows maximum flexibility in timing, frequency and amount of premiums.
Once a year the policyholder receives a statement showing the operation of the fund for the year.
Universal Life Insurance may be offered with fixed premiums, or as "flexible premium life insurance" , where the plan allows maximum flexibility in timing, frequency and amount of premiums.
Once a year the policyholder receives a statement showing the operation of the fund for the year.
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