Universal life insurance, a key player in the realm of permanent life insurance, ensures continuous coverage until the time of passing, contingent upon the timely payment of policy premiums, aligning with the principles of other permanent life insurance policies.

In the vein of whole life insurance, universal life insurance introduces a cash value component that not only accrues interest but is also accessible through withdrawals or loans.* This cash value flexibility extends to the option of utilizing it to cover your monthly policy premiums.

What sets universal life insurance apart is its adaptability, allowing policyholders to make changes to their coverage as circumstances evolve. This includes the ability to adjust policy premiums and death benefits to align with changing needs and budgets over time. It’s essential to note that modifying the death benefit may necessitate additional underwriting, emphasizing the importance of understanding the implications of such adjustments.