Universal Life Insurance - FOLIO Ontology

Identification

IRI:

https://folio.openlegalstandard.org/R8iWQahgBm11W2MRLvhPRPb

Label Universal Life Insurance

Preferred Label N/A

Identifier N/A

Alternative Labels

None

Definition

Universal life insurance is a type of permanent life insurance that offers both a death benefit and a cash value component, similar to whole life insurance. However, it differs in its flexibility, allowing policyholders to adjust the premiums and death benefit within certain limits, and it often has an investment element where the cash value can be invested for potential growth.

Class Relationships

Sub Class Of

• Life Insurance Policy

Is Defined By

N/A

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Additional Information

Metadata

Comment

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Description

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Notes

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Editorial Information

History Note

None

Editorial Note

None

Deprecated

No

Source and Origin

No source or origin information available