Financially.site – Universal life insurance is a type of permanent life insurance that offers a combination of lifelong protection and investment opportunities.
It provides policyholders with the flexibility to adjust their coverage and premiums as their financial needs change over time.
In this comprehensive guide, we will explore the key aspects of universal life insurance, including its benefits, types, considerations, and how to choose the right policy for your needs.
What is Universal Life Insurance?
Universal life insurance is a permanent life insurance policy that provides a death benefit to your beneficiaries upon your death.
It also includes a cash value component that grows over time based on the performance of the underlying investments.
Universal life insurance offers flexibility in terms of premium payments and coverage amounts, allowing you to adjust your policy as your financial situation evolves.
How Universal-Life Insurance Works
When you purchase a universal life insurance policy, you pay premiums that contribute to both the death benefit and the cash value component.
