Answer to Readers Question: Universal Life Insurance is a great tool if SET UP PROPERLY.This is an interest sensitive product. If it is set up right, your premiums will not ever go up and can actually build an attractive amount of cash. Unfortunately there are crooked people in the life insurance industry and sometimes an agent will sell this product under funded, one very important question is to ask,”to what age your policy is funded to.” The best way to fund this product is to age 100..Your policy was probably funded to age 72.

Ask questions and read the between the fine lines because sometimes the premiums go up after the age of 60 and your agent did not explain that to you and therefore you will find out that your premium don’t cover the cost of the insurance and the policy eats itself up as the premiums are too expensive to continue the insurance and there goes all the money you have paid for 20 or more years. Remember the saying BUYER BEWARE.