How does the universal life accumulation value grow?
The accumulation value is calculated each month by accumulating at interest the previous months accumulation value plus any premiums paid after first deducting the per thousand expense charge, the monthly per policy expense charge, the current cost of insurance, the billing collection charge, and any partial surrender amounts. The guaranteed minimum interest rate is 3% in all years (unless higher due to state requirements). The interest rate currently credited is well above the 3% guaranteed minimum.
The accumulation value is calculated each month by accumulating at interest the previous month’s accumulation value plus any premiums paid after first deducting the per thousand expense charge, the monthly per policy expense charge, the current cost of insurance, the billing collection charge, and any partial surrender amounts. The guaranteed minimum interest rate is 3% in all years (unless higher due to state requirements). The interest rate currently credited is well above the 3% guaranteed minimum. ————————————————– Note added at 20 hrs 29 mins (2005-01-23 21:07:28 GMT) ————————————————– As stated in ths following definition found at http://visagepk.com/xtras/debt-finance/finance_life-insuranc… the accumulation fund is the savings component of a UL policy, so either translation would be fine as far as the meaning is concerned. My preference is for the more specific ¥”accumulation fund¥”. Universal Life Universal, li
