UNIVERSAL LIFE INSURANCE: PERMANENT INSURANCE FOR YOU & YOUR FAMILY
A type of permanent life insurance that consists of two basic parts; insurance and investment. This plan provides lifetime coverage with a flexible premium that can be level for life or increase annually. You can choose from a variety of investment options from guaranteed investments to investment funds that are tied to specific mutual funds. The investment options are typically not guaranteed, just like a traditional mutual fund. It's possible to have a universal life insurance policy and not take advantage of the investment options. Doing so reduces your insurance policy to something that is similar to a term or term to 100 policy.