universal life insurance
Adjustable premium policy
Universal life insurance is a type of permanent life insurance that combines a death benefit with a cash value component, offering flexibility in premium payments and death benefit amounts.
Unlike whole life policies with fixed premiums, universal life lets policyholders adjust their payments within certain limits—paying more to build cash value faster, or less during lean times.
The cash value earns interest at rates that may fluctuate with market conditions.
She chose universal life insurance for the flexibility to vary her premiums as her income changed.
- permanentFixed without end
- cash valueConvertible monetary worth
- death benefitPayment upon policyholder's passing
- premiumAdded cost for better
- policyAdopted principle of action
beneficiary · investment · interest rate · flexible · accumulation · surrender · tax-deferred · estate planning · wealth transfer · retirement · savings · underwriting · mortality · annuity · financial security · legacy · coverage · loans
universal life insurancewhole life insurance
Coverage lasting until death
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