Life Insurance Polices

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Indexed Whole Life

(Indexed means to follow, shadow, or mirror) Face amount increases with the Consumer Price Index.

Universal Life

Adjustable death benefit

Variable Life & Variable Universal Life

Cash Value is variable, and there is no guarantee.

Universal Life

Cash value is current, guaranteed minimum

Whole Life

Cash value is fixed and guaranteed

Minimum Deposit Whole Life

Cash values begin immediately and are use to pay future premiums (partially or on full).

Variable Universal Life

Death Benefit is Variable & Adjustable

Whole Life & Variable Life

Does NOT have two death benefit options

Whole Life & Variable Life

Fixed Premiums, Fixed and Guaranteed Mortality rates

Whole Life

Fixed death benefit

Traditional Whole life

Funds invested in general accounts

Universal Life & Variable Universal Life

Has two death benefit options

Modified Whole Life

Level premiums for designated timeframe (typically 5 years); higher premiums thereafter

Limited Pay Whole Life

Level premiums limited to certain time period, less than life.

Indeterminate Premium Whole Life

Lower premium rate initially (2-3 years) and adjusted (up or down) according to the insurers mortality, expense and investment projections.

Graded Premium Whole Life

Lower premiums for designated timeframe (typically 5-10 years); payments rise annually thereafter until leveling off

Enhanced ('Economatic') Whole Life

Mutual insurers issue policy with lower premium and face amount that diminishes after a few years. Dividends are used to purchase paid-up additions

Whole life & Universal Life

No investment options

Whole Life & Variable Life

No partial surrenders

Variable Life & Variable Universal Life

Offers Investment Options

Single Premium Whole Life

Paid up for life with one large premium payment

Straight Whole Life

Permanent level protection; level premiums, until insured's death or age 100.

Variable Life

Variable death benefit

Universal Life & Variable Universal Life

mortality rates are Current, guaranteed maximum. Partial surrenders


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