Universal Life Insurance
Lifelong coverage with flexible premiums.
Universal life insurance offers lifelong coverage with flexible premiums and a cash value component that earns interest. Within certain limits, you can adjust your premium payments and death benefit over time as your needs change.
It can help with long-term goals such as estate planning, leaving a legacy, or supplementing retirement income with tax-deferred growth.
Universal Life Insurance may be a good fit for:
- Flexible premium payments that can adjust over time
- Long-term estate and legacy planning
- Supplementing retirement income with tax-deferred growth
- Permanent coverage with adjustable death benefits
How universal life insurance works
Universal life separates the policy into a cost-of-insurance component and a cash value account that earns interest. Within policy limits, you can choose to pay more in some periods to build cash value faster, or apply accumulated cash value toward premiums in others.
This flexibility makes universal life appealing to people whose income or financial goals may change over the years, while still providing permanent coverage.
Benefits of universal life
- Adjustable premiums within policy guidelines
- Cash value that earns interest over time
- The potential to adjust your death benefit as needs change
- Permanent, lifelong protection
Universal Life Insurance FAQs
How is universal life different from whole life?
Both are permanent policies with cash value, but universal life offers more flexibility — you can adjust your premiums and, within limits, your death benefit over time. Whole life typically has fixed premiums and a guaranteed cash value growth schedule.
Can I change my premium payments?
Universal life is designed to be flexible. Within the limits of your policy, you may be able to adjust how much you pay. A licensed insurance agent can explain how this works on the policies you compare.
Compare universal life insurance options today
Request a free quote or call to speak with a licensed insurance agent in our partner network†.