Question

What would be tempting to have people buy a universal life insurance policy? Who would do that? If you withdraw cash from the premium paid, does that decrease the length of the policy

Answer 1

Universal life insurance policy are always a temptation for people to by because

• It offers flexible premiums
• One can pay as per their wish in a year
• Access to cash value
• Permanent life insurance protection
• Provides death benefits
• It acts as a income replacement for the living spouses and dependent children
• Estate replacement is possible
• It acts as a predator protection for high earning income  people

It is offered by the agents to individual who has income restraints and burrow money without rotar in future.

It provides a tax free income when done with IRS regulations. It is taken out through premiums and then with gains.Withdrawing values generally affect the long term viability of the plan.Hence the cash value don't grow as expected.Simultaneously it decreases the death benefits