Universal life insurance — 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… … Wikipedia
universal life insurance — universal life, adj. a type of insurance in which the payments of the insured are placed in an investment fund, earnings from which pay the premium on term life insurance while any remainder continues to increase the policy s value. Also called… … Universalium
universal life insurance — universal life, adj. a type of insurance in which the payments of the insured are placed in an investment fund, earnings from which pay the premium on term life insurance while any remainder continues to increase the policy s value. Also called… … Useful english dictionary
Universal Life Insurance — A type of flexible permanent life insurance offering the low cost protection of term life insurance as well as a savings element (like whole life insurance) which is invested to provide a cash value buildup. The death benefit, savings element and … Investment dictionary
universal life insurance — A form of life insurance that combines term insurance protection with a savings feature. The portion of the funds allocated to the savings feature is invested in a tax deferred account that typically earns interest at rates comparable to… … Financial and business terms
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 … Wikipedia
variable universal life insurance — see life insurance Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. variable universal life insurance … Law dictionary
Equity-Indexed Universal Life Insurance — A permanent life insurance policy that allows policyholders to tie accumulation values to a stock market index. Indexed universal life insurance policies typically contain a minimum guaranteed fixed interest rate component along with the indexed… … Investment dictionary
Variable Universal Life Insurance - VUL — A form of cash value life insurance that offers both a death benefit and an investment feature. The premium amount for variable universal life insurance (VUL) is flexible and may be changed by the consumer as needed, though these changes can… … Investment dictionary
life insurance — n: insurance providing for the payment of money to a designated beneficiary upon the death of the insured see also endowment insurance ordinary life insurance: whole life insurance in this entry straight life insurance … Law dictionary
