In Universal Life insurance, the policy owner can pay extra premiums in addition to the scheduled premium payment amount. These payments can be made at any time, but are subject to a minimum amount.
This entry was posted in . Bookmark the permalink.
For Universal Life policies, this document is prepared at the end of each year, giving complete information on all transactions affecting the policy, such as premium paid, current death benefit, interest credited, loans outstanding, monthly charges, and cash surrender value.