Universal life insurance is a particular sort of permanent life insurance. With a universal life policy, the insured individual is protected for the rest of their life as long as they pay their premiums and follow the policy’s other criteria.
Universal life insurance, like many other permanent life insurance policies, combines a savings component (known as “cash value”) with everlasting protection. The death benefit of your policy is paid out to your beneficiaries after you die. Continue reading to learn more about universal life insurance’s advantages.