Posted: Fri May 09, 2008 2:56 pm Post subject: insurance
MAZE.............PLEASE DON'T think you're "butting in." I REALLY value your advice. Thank you for 'your support' ( get it?).LOL FISHMAN...thanks for the website. I'll REALLY will look into it. I think I'm understanding the difference now. Thanks for everyone's help.
Posted: Fri May 09, 2008 3:01 pm Post subject: insurance
FISHMAN...I just took a glance of the wesite. OMG!! Everything 'under the sun' on this one!! LOL By the way..it doesn't matter if you live in Ohio. You can STILL take me to lunch. Ohio isn't too far away from me!!LOL
System detected duplicate content, converted into image. _________________ Please feel free to go to my website at www.markcolbert.com or, if you have a specific question, you can email me directly. I hope I can answer any questions you might have. If not, I can certainly find an answer right away.
Posted: Mon May 12, 2008 2:23 am Post subject: insurance
Ok...I think I'm beginning to figure this out. 'Regular' Life Insurance has more of a 'fixed' rate. 'Universal' Life Insurance is more of a 'non-fixed' rate......and more of an 'investment' risk. Ya know, I was looking at some other information, on Universal Life. Says about the same thing.
Universal Life is a type of permanent life insurance based on a cash value. That is, the policy is established with the insurer where premium payments above the cost of insurance are credited to the cash value. The cash value is credited each month with interest, and the policy is debited each month by a cost of insurance (COI) charge, which is drawn from the cash value if no premium payment is made that month.
Variable Universal Life Insurance (often shortened to VUL) is a type of life insurance, that builds a cash value. In a VUL, the cash value can be invested in a wide variety of separate accounts, similar to mutual funds, and the choice of which of the available separate accounts to use is entirely up to the contract owner.
There are different designs of Universal Life products.
The one I know of operates like an insurance policy in early years and behaves like a savings account in later years.
Universal Life policy of such design appeals to people who have different priorities in different stages in life.
If a person is of the opinion that protection is more important during his productive years while savings is more important during his retirement years, then Universal Life could be the best fit to meet the 2 different priorities in life.
Universal Life is known to be flexible, where the policyholder could alter protection amount or premium. This feature is very helpful especially when the policyholder experiences changes in financial situations in later years.
FISHMAN...thanks for the website. I'll REALLY will look into it. I think I'm understanding the difference now. Thanks for everyone's help.
