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Universal Life Insurance

What it is:

Anyone that is considering their options for life insurance will want as much control over their coverage as possible. This is why many have turned to universal life insurance policies that will give them quite a few choices over various components of their policy and could even include a cash value element. Here is a closer look at this form of permanent life insurance and who might benefit from one of these policies.

Understanding Permanent Life Insurance

All life insurance can be classified as either permanent life insurance or term life insurance. As the name implies, permanent life insurance will stay active throughout the policyholder’s lifetime and provide financial assistance to their family and loved ones in the event of their death.


The primary benefit of universal life insurance is the amount of flexibility that the policyholder will have. You and your insurance agent can sit down and come up with the exact amount of coverage that you would like and what the premiums will be set at. Essentially, any amount that the policyholder would like to put into their insurance will increase the total coverage. Those that are not able to pay for a short period might also have the option of covering their premiums with the cash value in their policy.