Definition Of A Universal Life Insurance Policy Background. We offer three variable universal life insurance policies. Whole life insurance, like universal, is permanent insurance and is intended to stay in force until the death of the insured.
On the other hand, the payment flexibility can make the advantages of a permanent insurance policy easier to obtain.
Definition of universal life insurance including pros and cons, best rates, and policy features like cash value accumulation & guaranteed no lapse option. Universal life insurance, like all types of life insurance policies, comes with both advantages and disadvantages. Unlike other permanent life insurance policies, universal life insurance has an added cash value component and cheaper insurance premiums. Universal life insurance is not a ripoff, but it had better make sense for what you're trying to accomplish.
