Which is a better pick for universal life insurance,option a or b?

option a- cash value increases rapidly but will not be paid at death, but only the sum assured. then the cash value equals the sum assured and you have very little insurance left. In option b, cash values increase very slowly but is payable at death together with the sum assured.|||It really depends on your situation. I would check with another independent agent or fee-only adviser to review your goals and match the best insurance plan. Are you trying to keep costs low for the most death benefit? Are you worried about the rate of return to your beneficiary?





Something your agent might not know is that a number of companies are also offering an option C. This is the death benefit plus any premiums paid. I only bring this up to show how confusing insurance is. Check with a qualified professional who can help you wade through your options.|||I've never believed in Whole life Insurance..I prefer Term and invest the difference. There always seems to be a catch with Whole life..I'd rather have my money available when I need it.|||Cash value insurance of any kind is the biggest rip-off product of all time. Would you put money in a saving account and then go to withdraw it out and they tell you that you have to borrow your own money? Plus the fact that the face value of the policy decreases the amount of what you borrow. I wouldn't think so, but that basically what happens in a cash value product. Buy term insurance by all means. You will save a ton of money. Take the difference you save each month and put it in some type of savings account or IRA.|||. Why would you waste your time on the phone calling around? the last time i needed quotes on insurance i used one of these comparison sites and it was great. The last thing I want to do is listen to elevator music while waiting for a salesman.No doubt the easiest way to get insurance quotes is on the web. Anyway I got good quotes and ended up saving money so I was happy.





http://insurance.deal4-you.com





Good luck.|||Universal life is, obvioulsy, a complicated product. I can't give a definitive answer without more information about what your financial situation is. But, essentially, your would choose option A if you plan on benefiting from the cash value at any time during your life time. On the other hand, if the goal is to provide cash to your heirs, then choose option B.





Universal life isn't something that people usually choose to buy on their own initiative. If getting a second opinion from another financial professional if in doubt. He should be able to help you define your financial goals and therefore help you make a better informed decision.





I noticed that you also asked about how universal life works. Unfortunately, there isn't much space here to give you details. When I was in college, there was an entire textbook on universal life.