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	<title>New answer on: How Does Flexible Premium Life Insurance Work?</title>

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		<title>By: Jason Goldenzweig</title>

		<link>https://insurancelibrary.com/life-insurance/how-does-flexible-premium-life-insurance-work</link>

		<dc:creator>Jason Goldenzweig</dc:creator>

		<pubDate>Sat, 22 Mar 2014 15:36:01 +0000</pubDate>

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		<description><![CDATA[This is what&#039;s known as Universal Life insurance. These are permanent coverage programs that build cash value, much like Whole Life insurance does. &#160;The advantage of these programs is that you can pay more or pay less each month to keep the coverage going. &#160;However, when you do this, you can affect the guarantees (and even the non-guaranteed aspects) under the programs. 

There are two important factors to keep in mind when structuring a universal life policy, the guaranteed and non-guaranteed side. &#160;In short, the guaranteed side tells you how long your coverage is guaranteed for while the non-guaranteed side tells you how long it can continue on for, based on current assumptions (these figures can change and, therefore, the non-guaranteed length of coverage can change).

There&#039;s also what&#039;s called a Guaranteed Universal Life insurance policy (GUL). These programs can create a level premium and death benefit guaranteed to a specific age (all the way up to age 121 with most carriers to guarantee the death benefit for life). &#160;What this does is allows you to keep the premiums to its lowest levels and maximize the death benefit rather than placing the focus on the build-up of cash value, which is a common reason why many people buy whole life insurance.

There are other moving parts in a universal life insurance policy, but this provides a brief overview.]]></description>

		

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