Advantage No Load Life Insurance
Summary of Features
Product Type
The product is a "Universal Life Insurance", policy also known as Flexible Premium, Adjustable Life Insurance.
No Loads
- No percent of premium expense charges
- No per policy expense charges
- No withdrawal charges
- No per thousand expense charges
- No surrender charges
No Load means there are only two policy performance components - (1) Interest...credited monthly at a current rate on the policy value, and (2) Cost of Insurance...deducted monthly at a current rate from the policy value to cover the costs of life insurance coverage and any benefits provided by rider. The current interest rate assumed is shown in the illustration. A Supplemental Illustration, called "Cost and Benefit Analysis", can be generated with your Basic Illustration that shows the amount of current interest that would be credited in each future year, based on current non-guaranteed assumptions, as well as the annualized monthly deduction in each future year under the policy. Actual amounts of current interest credited and monthly deduction, which may be more or less than those illustrated, are shown in annual policy reports.
