What Is Universal Life Insurance?

Universal life insurance is a life insurance product with a certain asset value in at least one investment account. In addition to the universal life insurance protection provided by universal life insurance, universal life insurance also allows customers to directly participate in the investment activities of funds in the investment account established by the insurance company for the policyholder, and to link the value of the policy to the funds of the insurance company's independently operated investment policy Performance.

Universal life insurance

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1. According to the method of payment, universal life insurance can be divided into flexible payment products and fixed payment products, or into payment products and period products;

2. According to the classification of insurance responsibilities, it is divided into life insurance, dual insurance and annuity insurance.

1. Universal life insurance. The type of the report is death (sometimes including total physical disability) as the condition for the payment of insurance benefits. The insurance period is life. The insurance company sets up a policy account for the insured. The specific amount of death benefits is based on the time of death. Determination of the account value and the current risk coverage;

2. Universal annuity insurance refers to universal life insurance with an annuity option, that is, survival is the condition for payment of insurance benefits, and survival insurance benefits are paid in installments as agreed, and the interval between instalments of survival insurance benefits does not exceed one year (including one year) ) Universal life insurance;

3. Universal insurance for both types. This type of insurance is based on death or survival as the insurance premium payment condition. The specific death benefit will be determined based on the account value and risk coverage of the insured event.