Universal Life Insurance

Universal life (UL) insurance is a type of permanent life insurance that offers both a death benefit and a cash value component, which grows over time with interest. What sets UL apart is its flexibility; policyholders can adjust their premium payments and death benefit amounts, within certain limits, to better align with their changing financial circumstances.

 

UL accomplishes the dual goals of providing lifelong financial protection and allowing for tax-deferred cash value accumulation, which can be accessed or borrowed against if needed. This makes UL important because it combines the security of permanent life insurance with the ability to adapt to the policyholder’s financial needs and goals, whether that's supplementing retirement income, funding significant expenses, or ensuring a financial legacy for beneficiaries.