Universal life insurance (often shortened to UL) is a type of cash value life insurance, sold primarily in the United States. Under the terms of the policy, the excess of premium payments above the current cost of insurance is credited to the cash value of the policy, which is credited each month with interest. The policy is debited each month by a cost of insurance (COI) charge as well as any other policy charges and fees drawn from the cash value, even if no premium payment is made that month. Interest credited to the account is determined by the insurer but has a contractual minimum rate (often 2%). When an earnings rate is pegged to a financial index such as a stock, bond or other interest rate index, the policy is an "Indexed universal life" contract. Such policies offer the advantage
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| - Universal Life-Versicherung (de)
- Universal life insurance (en)
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| - Bei der Universal Life-Versicherung handelt es sich um eine flexible Form der Lebensversicherung, die mittels transparenter Kontostruktur abgebildet wird. Das zugrundeliegende Produktkonzept stammt aus den USA und ist dort seit seiner Einführung Mitte der 1980er Jahre weit verbreitet. Ähnlich einer kapitalbildenden Lebensversicherung besteht die Universal Life aus einer Vorsorgekomponente zur individuellen Kapitalansammlung und ist meist mit einer separat geführten Risikokomponente kombiniert, die den Tod des Versicherungsnehmers absichert. Die beiden Komponenten werden transparent ausgewiesen und lassen sich während der Vertragslaufzeit an die Lebensumstände des Versicherungsnehmers anpassen. (de)
- Universal life insurance (often shortened to UL) is a type of cash value life insurance, sold primarily in the United States. Under the terms of the policy, the excess of premium payments above the current cost of insurance is credited to the cash value of the policy, which is credited each month with interest. The policy is debited each month by a cost of insurance (COI) charge as well as any other policy charges and fees drawn from the cash value, even if no premium payment is made that month. Interest credited to the account is determined by the insurer but has a contractual minimum rate (often 2%). When an earnings rate is pegged to a financial index such as a stock, bond or other interest rate index, the policy is an "Indexed universal life" contract. Such policies offer the advantage (en)
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| - Bei der Universal Life-Versicherung handelt es sich um eine flexible Form der Lebensversicherung, die mittels transparenter Kontostruktur abgebildet wird. Das zugrundeliegende Produktkonzept stammt aus den USA und ist dort seit seiner Einführung Mitte der 1980er Jahre weit verbreitet. Ähnlich einer kapitalbildenden Lebensversicherung besteht die Universal Life aus einer Vorsorgekomponente zur individuellen Kapitalansammlung und ist meist mit einer separat geführten Risikokomponente kombiniert, die den Tod des Versicherungsnehmers absichert. Die beiden Komponenten werden transparent ausgewiesen und lassen sich während der Vertragslaufzeit an die Lebensumstände des Versicherungsnehmers anpassen. (de)
- Universal life insurance (often shortened to UL) is a type of cash value life insurance, sold primarily in the United States. Under the terms of the policy, the excess of premium payments above the current cost of insurance is credited to the cash value of the policy, which is credited each month with interest. The policy is debited each month by a cost of insurance (COI) charge as well as any other policy charges and fees drawn from the cash value, even if no premium payment is made that month. Interest credited to the account is determined by the insurer but has a contractual minimum rate (often 2%). When an earnings rate is pegged to a financial index such as a stock, bond or other interest rate index, the policy is an "Indexed universal life" contract. Such policies offer the advantage of guaranteed level premiums throughout the insured's lifetime at a substantially lower premium cost than an equivalent whole life policy at first. The cost of insurance always increases, as is found on the cost index table (usually p. 3 of a contract). That not only allows for easy comparison of costs between carriers but also works well in irrevocable life insurance trusts (ILITs) since cash is of no consequence. (en)
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