Universal life insurance refers to life insurance. With this insurance, the person remains insured for the rest of their life. Universal insurance has an element of investment savings with low and flexible premium options. However, some universal life insurance may need a fixed (scheduled) or single premium. Depending on the payment of premium and policy payments, earnings are available in the form of first-in, first-out (FIFO), or last-in, first-out (LIFO) funds.
In the event of an insurer’s death, the insurance carrier retains the insurance’s remaining cash value while beneficiaries only get the death benefit of the policy. The universal policyholder can also take a loan against the policy’s accumulated cash value without any tax implications. Edison Risk helps you connect with companies offering universal life insurance policies and assists in the underwriting process to streamline and expedite the insurance process. We strive to maximize the insurance benefits in the interest of our clients as much as possible.
