Universal Life Insurance

« Back to Glossary Index

Universal life insurance is a type of permanent life insurance that guarantees payment of the death benefit if the policyholder dies after buying the universal life insurance. Universal life insurance also has a savings component, called cash value, where money grows on a tax-advantaged basis.

For more information, please check out: What is Universal Life Insurance? A Simple Explanation for Kids, Teens and Beginners

Easy Peasy Finance Header