A UL policy gives the insured person many of the same permanent protection and benefits as whole life coverage, along with the added benefit of a flexible premium to help accommodate variable earnings. In addition, depending on the life insurance company and policy, you may also have the option to invest your cash value in various market-based investment options, giving you the potential for more growth. On the other hand, universal life offers fewer (or lower) cash value guarantees.


Universal life insurance may be right for you if you are looking for life insurance with long-term coverage. Universal life insurance may offer a guaranteed death benefit. It allows you to tap into policy cash value and gives you the ability to adjust your premium payments or death benefits.

nationwide universal life insurance


If you are looking for a policy that offers lifelong coverage and a life-long insurance policy, universal life insurance might be the right fit. Universal life insurance provides a guaranteed death benefit. This allows you access to the policy's cash value.

nationwide universal life insurance
when a policyowner cash surrenders a universal life insurance

when a policyowner cash surrenders a universal life insurance


A UL policy offers insured persons many of same permanent benefits and protections as whole-life coverage. It also has the added benefit that a flexible premium can be adjusted to accommodate variable earnings. You may be able, depending on the policy and life insurance company, to invest your cash value into various market-based investment options. This will allow you to grow more. Universal life however offers less cash value guarantees, or lower ones.

cons of universal life insurance


The cash value component earns interest using a money market interest rate or, in some cases, a rate linked to a market index. Your cash value will rise, which will help you pay your premium. If your financial situation changes, it can help to lower your monthly payments.

multi index universal life insurance

multi index universal life insurance


Universal life is flexible and allows you to have a permanent life insurance plan as well as build cash value. The premiums are flexible. You can change the payment amount or raise them, but only within certain limits. It is a good option for those with variable incomes as it allows them to take out cash and borrow money.

universal life insurance is quizlet


Universal life insurance refers to a type or permanent life insurance. Unlike term life insurance that only covers a set period like 20 years or so, universal life insurance will continue to be in force until you stop paying premiums.

universal life insurance is quizlet