UL - Premium
COMMON / PARADIGM
Universal life insurance, like whole life insurance, is a type of permanent life insurance policy that accumulates tax-deferred cash value.
The policy stays in effect for as long as you remain alive and pay the premiums.
"John <Plaintiff - Policyowner> contacted Glasgow <Agent>, who had retired in 2000, to inquire why his policies would be terminating, even though he had timely paid the premiums on the policies for approximately 18 years."
2010 - Maloof v John Hancock Alabama Supreme Court Opinion 39p