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Individual plans can count as preexisting conditions only those for which you actually received (or were recommended to receive) a diagnosis, treatment or medical advice within 6 months before individual coverage begins. The maximum exclusion period that can be imposed is 12 months.

The universal life policy addresses the perceived disadvantages of whole life. Premiums are flexible. The internal rate of return is usually higher because it moves with the financial markets. Mortality costs and administrative charges are known. And cash value may be considered more easily attainable because the owner can discontinue premiums if the cash value allows it. And universal life has a more flexible death benefit because the owner can select one of two death benefit options, Option A and Option B.



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