What is universal life (UL) insurance?

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PolicyGenius Admin

PolicyGenius Admin

Blog author PolicyGenius Admin

Published April 22, 2015

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Universal life insurance is a type of permanent life insurance with the following characteristics:

  • You can adjust the premium or the benefit amount.

  • The cash value component earns interest at a variable rate set by the insurer.

  • You can use the cash value component to pay or reduce your premiums.

PolicyGenius Admin

Blog author PolicyGenius Admin