universal vs term life

benefits of a universal life policy


More specifically, the cash value component earns interest based on a money market rate of interest or, for some types of universal policies, a rate tied to a market index. Whatever you make will increase your cash value, helping you pay your premium. Lowering your monthly payments can be helpful if your financial situation changes.


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.

universal vs term life


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.

universal vs term life
group universal life insurance mercer

group universal life insurance mercer


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.

universial life


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.

can you borrow from universal life insurance

can you borrow from universal life insurance


In a whole-life policy, the premiums, cash value growth, and death benefit are guaranteed not to change. With UL, all those things are designed to be flexible. However, the amount of premiums you pay affects cash value growth. And as you use funds from the cash value, it will affect the amount your family receives when you're gone. It could even cause the policy to lapse, so you should stay in contact with your financial professional to help make sure your policy continues to meet your needs.

guaranteed universal life insurance for seniors


Universal life insurance is a type of permanent life insurance. Unlike term life insurance, which is meant for a specific period, such as 20 years, universal life insurance is in effect for the rest of your life (unless you stop making premium payments).

guaranteed universal life insurance for seniors