Universal Life Insurance - Government Descriptions

Universal life insurance

  • A form of permanent insurance designed to provide flexibility in premium payments and death benefit protection.
  • The policyholder can pay maximum premiums and maintain a high cash surrender value.
  • Alternatively, the policyholder can make minimal payments in an amount only large enough to cover mortality and other expense charges. (p1388)

2020 - Federal Reserve (FRB) - Bank Holding Company Supervision Manual - 1764p

--  Federal Reserve (FRB) - Commercial Bank Examination

2016 11 - FIO - Report on Protection of Insurance Consumers and Access to Insurance - 58p

I’m excited to have the opportunity to welcome you to a new edition of USA.gov’s Consumer Action Handbook, your guide to being an informed consumer.

Marietta Jelks - Editor-in-Chief, Consumer Action Handbook

  • Whole (or universal) life insurance policies are considered
  • As long as you pay the premium, the policy
    is in effect.  (p32)

2015 Version - Consumer Action Handbook, published by USAGov, part of the U.S. General Services Administration’s (GSA) Office of Citizen Services and Innovative Technologies.