Page 5 - Life Insurance Today OCTOBER 2017

Cover Story

AN OVERVIEW

OF UNIVERSAL

LIFE

INSURANCE

POLICY

Introduction insurance with the long-term security of permanent or
whole life insurance.
Life Insurance provides financial security to the insured's
dependents or loved ones, if something were to happen
Universal life insurance is type of flexible permanent life
to insured unexpectedly. There are lots of plans available
insurance offering the low cost protection of term life
in life insurance, but universal life insurance combines the
insurance as well as a savings element (like whole life
best options to the insured. It is the affordability of term
insurance), which is invested to provide a cash value
buildup. Unlike whole life insurance, universal life
About the author insurance allows the policyholder to use the interest from
his accumulated savings to help pay premiums over time.
Dr. P. Sundara Pandian
Principal, VHNSN College (Autonomous), Universal Life Insurance Definition
Virudhunagar
Universal life (UL) insurance is a hybrid life insurance
M. J. Senthil Kumar policy which combines elements of term life insurance
Associate Professor, Department of Commerce (UG) with an investment savings option. Universal life combines
Sri Kaliswari College (Autonomous), Sivakasi the ability to build savings at the same time provides a life
insurance policy. This allows flexibility in choosing savings
Dr. N. R. Nagarajan
or investment portion of the premium.
Senior Faculty, Department of Commerce
Sri Kaliswari College (Autonomous), Sivakasi
Universal Life Insurance policy is a cash value life insurance
You miss 100 percent of the shots you never take.

Life Insurance Today October 2017 5

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