Universal Life Insurance describes the special characteristics and various applications of universal life and variable universal life policies. Before the introduction of universal life into the marketplace, life insurance policies were premium-dependent and had little, if any, flexibility. Universal life and variable universal life policies have expanded the use of insurance planning to include objectives of asset accumulation, tax planning, asset protection, retirement income, educational funding, and additional uses beyond the single focus on the death benefit.
At the end of this course, you will understand the fundamental and important characteristics that separate the old policy structures from those of the new policies; how and when the universal life policy is best suited for the client’s needs and objectives; responsibilities of designing premium strategies for specific policy goals; the guidance and purpose of regulatory parameters; and application of planning techniques with universal life policies.
The course begins by examining the various life insurance products that are currently available. By comparing these products’ characteristics with those of universal life and variable universal life, you will see the added flexibility that the new products offer.
The life insurance industry made a monumental shift in policy design when it created universal life insurance and variable universal life insurance.
Universal Life Insurance Plan
Insurance CE Online
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