What Is A Flexible Premium Life Insurance Policy?

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    Ted Ratliff
    Owner, SFS Associates,
    A flexible premium life is also called Universal Life.  It is a hybrid of term insurance with a built in cash feature that accumulates interest.  It is called flexible premium because technically there is no set premium, unlike Whole Life or Term.  You can put as much in it as you want if you would like the cash value feature to grow, or as little as you want, even skip premiums as long as there is enough in the cash fund to pay for the term insurance component.
    Answered on June 20, 2013
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