Universal Life Insurance

Universal life insurance is a form of permanent life insurance that offers lifetime coverage, a flexible premium payment structure, and a cash value component that grows tax-deferred over time. Policyholders can adjust both their premium payments and death benefit after the policy is in force, offering greater flexibility compared to whole life insurance.​

The policy’s cash value earns interest—often based on rates set by the insurer—and can be accessed through loans or withdrawals, though such use can reduce the death benefit if not repaid. If investments underperform or premiums are underpaid, the policy could lapse or require additional contributions to maintain coverage. Universal life policies can be tailored over time to fit changing financial needs and goals.