Fundamentos del Seguro de VidaPregunta 385 de 716
A universal life policy is at risk of lapsing if:
a.The cash value becomes insufficient to cover the monthly cost-of-insurance and expense charges
b.The credited interest rate rises
c.The insured reaches age forty
d.The owner names a contingent beneficiary in addition to the primary beneficiary already listed on the application
Explicación
Because universal life deducts monthly cost-of-insurance and expense charges from the cash value, the policy can lapse if the owner underpays and the cash value runs too low to cover those deductions. Simply reaching a particular age does not cause a lapse. A rising credited interest rate helps the cash value, reducing lapse risk. Naming a contingent beneficiary has no effect on the policy staying in force. This is why universal life owners must monitor funding.
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Revisado por John Zihao Zhang — California-Licensed Life Insurance Agent (CA Dept. of Insurance License #4396095 — verificar)