Variations of whole life insurance
01.Core Concepts
In a universal life insurance, the protection and savings components are separated Most policies have a target premium, but the policyholder is not obligated to pay it A monthly mortality charge is deducted from the cash-value account for the cost of the insurance protection Insurers typically deduct 5% to 10% of each premium for expenses Interest earnings credited to the cash-value account depend on the interest rate ‹#›
