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Universal Life Insurance

What is Universal Life Insurance?

Universal life insurance is one of the two main varieties of permanent life insurance. Unlike term life insurance, a universal policy can be maintained indefinitely.

What's the difference between universal life insurance and whole life insurance (the other variety of permanent insurance)? Whole life insurance is characterized by its uncompromising guarantees; universal life insurance is characterized by its flexibility, transparency, and affordability.

Universal life insurance is an instance of cash value life insurance. "Cash value" is an interest-bearing account of real money. It's primary role is equity for your policy—at any time, the policy owner can cash in his/her policy and walk away with its cash value.

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