Universal Life Insurance

Universal life insurance is a type of permanent life insurance that combines a death benefit with a cash value savings component. The key feature of universal life insurance is its flexibility; policyholders can adjust their premium payments and death benefit amounts to suit their financial situation. The cash value of the policy grows at a variable interest rate, which can increase or decrease based on market conditions. Policyholders can use the cash value for loans or withdrawals, providing financial support during their lifetime. This makes universal life insurance a versatile financial planning tool that can adapt to changing life circumstances and financial goals.