Universal life insurance combines elements from term life insurance and whole life insurance. Term policies provide a death benefit savings component, whole life policies provide a death benefit savings component, and universal policies nefit savings component. To understand how universal premiums are allocated, consider the following and a separate and no -old lawyer who has taken out a universal life Insurance policy to protect his two children (ages 12 and 9) in the event of death. bundled with a hooses how much would like to contribute to the policy, as shown by the first row of the table below. The insurance company tract from this an administrative fee along with the cost of the death benefit (the portion of the policy) then puts the Universal life insurance combines elements from term life insurance and whole life insurance. Term policies provide a death benefit savings component, whole life policies provide a death benefit savings component, and universal policies provide a death benefit savings component. To understand how ms are allocated, consider the following bundled with a example. and a separate Dmitri is a 41-year-old lawyer who has taken out a universal life insurance policy top dren (ages 12 and 9) In the event of death. and no Each year, Dmitri chooses how much would like to contribute to the policy, as shown the table below. The insurance company Universal life insurance combines elements from term life insurance and whole life insurance Term policies provide a death benefit Savings component, whole life polices provide a death benefit savings component, and universal policies povide a death benefit savings component to understand how universal premiums are allocated, consider the following Example and a separate Dmitt is a 41 year old and no en out a universal life insurance policy to protect his two children (ages 12 and 9) in the event of death Each year, Omitri choos like to contribute to the policy, as shown by the first row of the table below. The insurance company bund with a subtracts from this an halong with the cost of the death benefit (the portion of the policy) then puts the