How Much Should Universal Life Insurance Cost?

  1. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    If you are asking what the annual cost would be, then the answer would be whatever necessary to keep the policy in force.  In some years that could be $0.  Flexibility is the key to universal life and while the company will give you a “target” premium, you can invest as much or as little as you like in a given year.  If you are really asking about cost that is determined when you die.  If the policy is still in force, it probably cost very little.  If it has lapsed, it cost you a great deal.
    Answered on July 10, 2014
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  2. 712 POINTS
    John Cole
    Recruiter/Manager, Cole Insurance Investments, Charlotte N.C.
    Cost is always a good question. Index Universal Life insurance is not a costly insurance it is very competitive with any life insurance and probably is one of the best out there but there are factors to consider what does your savings account look like will you commit to using the policy the way; it is designed it has a death benefit which has a cost and you can save for retirement tax free in most cases you would need to talk with your ( CPA ) so look closely to your contract 15 years from now you will be glad you did the cost is discipline.
    Answered on July 11, 2014
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