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Universal is a generic name
used by US & Canadian life insurers to suggest versatility / flexibility.
Universal Life Insurance is a transparent cost/income breakdown version of whole life
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- Low premium because of highly competitive international market
- Insured can be up to 89 years of age
- Insured may have past health issues
- Increasing Cash with low volatility
- Policy Cash Value can be credited within a short period upon request
- Avoid Estate Related Problems
- Interest repayment be used as corporate expense to deduct taxes
- Cash within a policy is inaccessible to creditors
- International Policy: Apply from anywhere; Claim from anywhere
- More relaxed Underwriting Requirements
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A few things about universal life insurance
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International |
Local |
| Standard and Poor Rating |
Not Less than AA |
The best is A+ |
| Largest Face Amount |
USD 35M |
USD 1M |
| Insured Age |
Up to 89 yrs |
70 |
| Current Rate |
around 5.35% |
around 5.35% |
| Admin Fee |
5%-6% |
Never Disclosed |
| Mortality Rate |
1983/2001 |
1983 |
| Premium Comparison |
Low |
High-fixed |
| Premium Finance |
Yes |
No |
| Currency |
USD |
USD/HKD |
| Medical Check |
Anyplace (depends on insurer) |
HK |
| Taxation |
no income of estate tax |
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