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Universal Life Insurance 1979 Background

Universal Life Insurance 1979
Background
. Hutton life insurance company introduced universal life insurance, also known as adjustable life. Universal life was the first insurance company to be founded in.

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It was the first new type of life insurance product in over 100 years and featured flexible premiums that consumers could customize to their individual needs. In exchange for paying premiums, life insurance provides beneficiaries with a large payment upon the insured's death. With a universal life insurance policy, you control how much money you earn every month inside your policy.

Under the terms of the policy, the excess of premium payments above the current cost of insurance is credited to the cash value of the policy, which is credited each month with interest.

However, universal life insurance policies do carry higher risk with regard to fluctuations in insurance premiums and interest rates. In exchange for paying premiums, life insurance provides beneficiaries with a large payment upon the insured's death. However, this depends on the returns of those invested savings and the actual cost of your death benefits, according to your health changes over time. Affordable coverage to meet your temporary needs.