Whole Life's Non-Forfeiture Options: The Last Lines of Defense Against Lapse Whole Life insurance policies provide guaranteed **Non-Forfeiture Options** that kick in automatically if a policyholder stops paying premiums after the cash value has been…
The Non-Lapse Guarantee Rider: Ensuring Universal Life Coverage Security Given the lapse risk inherent in flexible Universal Life (UL) and Indexed Universal Life (IUL) policies, many insurers offer a **Non-Lapse Guarantee Rider (NLG)**. This rider…
The Risk of Adjustable Death Benefits in Universal Life: When the Cost Increases Universal Life (UL) often allows policyholders to choose between a **Level Death Benefit (Option 1)** and an **Increasing Death Benefit (Option 2)**.…
Reinstatement of a Lapsed Permanent Life Insurance Policy A Permanent Life Insurance policy can lapse if the cash value is insufficient to cover the monthly charges (in UL/IUL) or if the premium payment is missed…
Modified Whole Life: Combining Lower Initial Premiums with Permanent Coverage Modified Whole Life is a specialized variant of permanent insurance designed to be more affordable for younger buyers. It maintains the core benefits of Whole…