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What are universal life policies?

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Bob Ley: Universal Life is a type of permanent insurance policy under which, one, the premiums are flexible, two, the death benefit protection can be adjusted, and three, insurance company expenses and other charges are disclosed. Annually the policy owner will receive a report on the charges, expenses paid, accumulation value balance and interest credited. The interest credit is typically competitive. The insurance protection is combined with a cash value account. The return is not guaranteed, though some policies do provide a minimum interest guarantee.

Expert: Bob Ley with AIG

Vice-President of Sales with AIG American General

Term Life Insurance

American International Group, Inc. (AIG), a world leader in insurance and financial services, is the leading international insurance organization with operations in more than 130 countries and jurisdictions. AIG companies serve commercial, institutional and individual customers through the most extensive worldwide property-casualty and life insurance networks of any insurer. In addition, AIG companies More »