Economics, Econometrics and Finance
8 years ago

Universal life insurance offers better risk reduction than traditional policies.

Journal of Risk & Insurance
The Effects of Risk Reduction Inherent in Universal Life Insurance: Further Comment
Terry Rose, John H. Hand

Paper Summary

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The article discusses whether it is better to buy whole life insurance or term insurance and invest the difference. The researchers compare the risk structure of universal life insurance to conventional cash value life insurance. They find that universal life insurance separates savings from protection, creating a positive covariance between the insurance and savings function.