what is a universal life insurance

transamerica universal life insurance


Variable universal life insurance allows policyholders to choose how they want to invest their cash value. You have the option to invest in stocks, bonds, or mutual funds.


Universal life insurance refers to a type or permanent life insurance. The insured person is protected for the rest of their lives as long they pay their premiums. Universal life insurance offers both a savings component (also known as "cash value") and lifetime protection. Your beneficiaries will receive your policy's death benefits upon your death.

universal life insurance definition wikipedia


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 definition wikipedia
can universal life insurance lapse

can universal life insurance lapse


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 vs whole life insurance


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.

aetna universal life insurance

aetna universal life insurance


The policy's cash value grows tax-deferred, so no taxes are owed on current earnings or interest. Also, the death benefit is paid income-tax-free to beneficiaries.

can you withdraw money from universal life insurance


Guaranteed universal insurance (GUL) also known no-lapse guaranteed life insurance. This policy offers a guaranteed benefit death benefit and premiums that will remain the same throughout its life. GUL policies often fall under the umbrella of permanent life insurance. They usually have an end date, though they are sometimes included. A policyholder typically selects an advanced age, 95, or 102. - and the policy will be kept active until that time. GUL policies are not like other permanent life policies. They may have very little or no cash value.

can you withdraw money from universal life insurance