UL - Premium
COMMON / PARADIGM
Media
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.
https://www.usnews.com/360-reviews/life-insurance/universal-life-insurance
PROBLEM?
Legal Case
"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
EXPLORE
1993 NAIC Life Insurance Buyer's Guide UL