Universal Life Insurance
A life insurance that is based on cash value is called Universal Life Insurance. It means that policy given to the insurance requires premium payments that are higher than the usual cost of insurance and it is credited by the cash value given. Every month, the cash value will be credited with interest. The policy will also be debited each month with COI charge that is being drawn from the cash value if the insurer failed to give his premium payment for that month. A financial index is where the insurer can track down the interest credited to the account by the insurance company.