Universal Life Insurance

123456789
Across
  1. 2. least amount estimated to cover the policy expenses and cost of pure insurance
  2. 5. within limits the policy owner can increase or decrease premiums
  3. 7. considered flexible permanent life insurance
  4. 8. sound middle ground
  5. 9. requires that life insurance policies maintain a minimum level of pure insurance protection (net amount at risk)
Down
  1. 1. allows the insurer to recoup expenses for commissions, field expenses, and underwriting costs
  2. 3. “Guideline Premium” – highest premium amount that can be paid and still meet the premium test (corridor requirement)
  3. 4. allows policy owner to access a portion of the policies cash value; reduces cash value and death benefit
  4. 6. amount is not contractually guaranteed; may exceed the target amount; referred to as specified amount