Universal life is flexible to get a permanent life insurance policy and build cash value. The premiums are flexible: you can raise or lower payments within certain limits set by the insurance company. It can be a solution to cover people with variable incomes because the cash value also allows them to make withdrawals and policy loans.


Doing so will reduce your cash value. If there isn't enough, you will have to make the difference, or your policy will be canceled.

universal whole life insurance


Some forms of universal life insurance also offer a cash value component. You can take money out of cash value via a withdrawal or loan. When you die, the insurance company will reduce the death benefit payout to your beneficiaries by the amount of any leaves or outstanding loans. But for some buyers, accessing cash value is more important than a total payout to beneficiaries later.

universal whole life insurance
variable universal life insurance calculator

variable universal life insurance calculator


Like all permanent life insurance, it has a built-in cash value that grows over time and earns interest. You can take out policy loans against the cash value, pay your premiums, or even use your coverage for cash to supplement your income in retirement.

is universal life insurance good


Guaranteed universal insurance has the lowest risk. Variable Universal Life has greater chance, as the cash value of the cash is tied to bonds or stocks. On the other hand, guaranteed universality can be more risky than guaranteed universality. You can also build more cash value through indexed universality and variable universality.

fixed index universal life insurance

fixed index universal life insurance


You will see cash value growth as long as you continue paying your premiums for your universal insurance policy. Depending on the policy you select, you might need to pay an upfront premium or a fixed monthly fee.

universal life insurance


If you are looking to purchase lifelong insurance, universal life is the best option. Universal life insurance can provide a guaranteed loss benefit. It also allows you to access the policy’s cash value.

universal life insurance