Universal Life Insurance: Everything You Need to Know
What is universal life insurance? Read on to learn all about what it entails so you can evaluate your insurance needs and goals.
When it comes to life insurance, there are various types available, each with its own features and benefits. Universal life insurance is one such option that offers flexibility and a combination of insurance coverage and savings. In this guide, we will discuss what universal life insurance is, the reasons you might consider getting it and the pros and cons associated with this type of policy in the U.S. Universal life insurance is a type of permanent life insurance policy that provides a death benefit to beneficiaries upon the policyholder's death. It differs from term life insurance, which provides coverage for a specified term. Here are key aspects of universal life insurance: Universal life insurance can offer a death benefit, which...