More About Universal Life Insurance: Fixed universal life insurance policies have flexible premiums. A part of each premium payment is used to cover mortality costs and other administrative charges needed to support the policy. Premium paid that exceeds those costs is contributed to the cash value in the policy. Therefore, the amount of the policy cash value, if any, is directly related to the level of premium payments the policyholder chooses to make. Cash values in the policy are credited with both a guaranteed and non-guaranteed interest rate. The guaranteed crediting rate is usually between 2% and 3%, depending on the policy. Non-guaranteed crediting rates vary over time. They are determined by the insurance company and are based on the returns the company earns on its own investment portfolio. Paying a minimal premium may result in the early termination of the death benefit (the policy lapses) and no cash value accumulation. Paying a high premium amount may result in a guaranteed death benefit for life and significant accumulation of cash value.

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