Term
| a limitation to universal policies is that some policy owners do not have a firm commitment to |
|
Definition
|
|
Term
| an important variation of whole life insurance |
|
Definition
| variable universal life insurance |
|
|
Term
| most variable universal life policies are sold as |
|
Definition
| investments or tax shelters |
|
|
Term
| variable universal life policies are different from universal policies b/c in variable the policy owner determines how the premiums are invested, which provides considerable |
|
Definition
|
|
Term
| variable universal life policies are different from universal policies b/c in variable the policy does not guarantee a minimum |
|
Definition
| interest rate or cash value |
|
|
Term
| the variable policy may have what which may guarantee a minimum interest rate on the account value? |
|
Definition
|
|
Term
| allows the policy owner to invest the premiums in a wide variety of investments |
|
Definition
| variable life insurance policy |
|
|
Term
| the premiums in a variable universal policy are invested in one or more whats that are similar to mutual funds in their daily operations? |
|
Definition
|
|
Term
| in variable universal policies, the policy owner can switch out of the different funds without incurring an |
|
Definition
|
|
Term
| when you buy a variable universal life policy, you select one or more separate accounts, and the policy cash values reflect the |
|
Definition
|
|
Term
| variable universal life insurance policies have relatively high |
|
Definition
|
|
Term
| the relatively high expense charges in variable universal policies reduce the investment returns and erode the favorable |
|
Definition
| tax treatment under the policy |
|
|
