Universal life insurance is a type permanent insurance. Unlike term insurance that is only good for a certain period of time, like 20 years, universal insurance can be used for the rest your life (unless premium payments are stopped).


Universal life insurance, a type of permanent insurance, is a form of universal life insurance. Unlike term-life insurance, which only lasts for a specified period (e.g. 20 years), universal life insurance lasts for the rest of your lifetime (unless you stop making premium payment).

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This article will provide information about universal life insurance as well as break down the various types. Consider these policies with the help of a trusted financial advisor. They can be confusing.

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universal life insurance rates by age chart

universal life insurance rates by age chart


The policy becomes effective on the first day. UL can provide a death benefit that is income-tax-free to help your family's financial security. As long as your cash value is positive, your coverage cannot be cancelled.

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As with all permanent life insurance, there is a built-in cash reserve that grows over time and earns you interest. You can use your coverage to supplement your retirement income by taking out policy loans against its cash value or paying your premiums.

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aig guaranteed universal life insurance


There are a few types of universal life insurance policies, and it's crucial to understand what you're buying. Their costs and features are quite different.

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Universal life insurance is one of the main types of permanent, whole life insurance. Universal policies can offer lifetime protection, cash value and tax advantages. UL allows you raise or lower your premiums within a certain limit so that it costs less than full coverage. However, UL offers less protection than whole life. You can't make too many premium payments and it can affect your cash value growth or the size of your death benefits.

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