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Clear LifeSecure Insurance Company REQUEST FOR POLICY/ACCOUNT TRANSFER OR EXCHANGE OF FUNDS (Formerly Columbia Universal Life) Administrative Office: P. O. Box 19085 Greenville, SC 296029085 2000.

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Is Universal Life Insurance a Smart Financial Investment? The bottom line is: no. Unless, of course, you're an insurance company. If you are investing in universal life, you are paying a high premium for a lengthy period of time, possibly two to five times longer than you would with term life.

When the policyholder dies, his or her beneficiaries receive the death benefit, and any remaining cash value goes back to the insurance company. In other words, they're essentially throwing away that accumulated cash value. Fortunately, you can take steps to ensure you don't trash your cash value.

There are a lot of bad things about universal life insurance, but the worst is what happens to that cash value when you die. The only payment your family will get is the death benefit amount. ... You can faithfully invest for decades, but one way or another that money will go back to the insurance company.

Cash Value and Premium Payments A universal life insurance policy's cash value can be used as: Surrender Value - If you decide that you no longer want the policy, you can give it back to the insurer ( surrender it), and the insurer would give you the cash value in return.

There are a lot of bad things about universal life insurance, but the worst is what happens to that cash value when you die. The only payment your family will get is the death benefit amount. ... Plus, if you ever withdraw some of the cash value, that same amount will be subtracted from your death benefit amount.

Since the insurer guarantees a lower interest rate and offers a range of premiums, universal life insurance policies are typically less expensive than whole life insurance policies. This makes them a good consideration if you want permanent coverage with lower premiums.

The primary disadvantage to insurance as an investment is you must pay the internal insurance charges for the life insurance benefit. These charges increase with age and are deducted from your cash value each month and lower your effective rate of return on the investment component.

Cash Value and Premium Payments A universal life insurance policy's cash value can be used as: Surrender Value - If you decide that you no longer want the policy, you can give it back to the insurer ( surrender it), and the insurer would give you the cash value in return.

Guaranteed universal life insurance, referred to as a GUL, has a guaranteed death benefit and as long as you pay the premiums to keep your policy active the GUL can last your entire lifetime.

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© Copyright 1997-2025
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232