Universal life insurance is like to term life insurance, but adds a cash value component.
So, part of each premium goes towards the cost of insurance for the policy, and the remainder goes into a cash value account inside the policy.
There several kinds of universal life insurance policies:
- Hybrid Universal Life
- Guaranteed Universal Life
- Adjustable Universal Life
- Variable Universal Life
Whether you have coverage now, or are considering new universal life coverage, you can learn more about each topic by selecting one of our links for more detailed information.