Universal life insurance means coverage for your entire life as long as you continue to make the required premium payments. The more you pay into your account, the higher the cash value – over time, your money accumulates tax-deferred interest.
Benefits of Universal Insurance:
- Coverage for your entire life, as long as you make the required premium payments
- Cover end-of-life expenses like funeral costs and medical bills
- Emergency funds available if you’re ever in a tight spot where you need cash from the cash surrender account *
*Policy loans incur interest charges and withdrawals are subject to surrender charges during the surrender charge period. Also policy loans or withdrawals will reduce the death benefit.