insurance

What is universal life insurance?

 

What is universal life insurance?

The Bankrate.com financial term of the day is: "Universal Life Insurance."

Universal life insurance is a more flexible permutation of permanent life insurance, which can cover you for your entire life as long as you keep paying the premiums. With some permanent policies, the death benefit and the amount you pay in premiums are locked in, but universal life allows you to increase or decrease the payout sum and vary your premium payments, depending on your needs. The returns on the savings, or cash value, portion of these policies also can vary, so there is some risk involved.

With universal life insurance, you're covered for life but also have some leeway in case that life of yours takes some turns.

To get a quote on a new insurance plan, visit the Insurance section at Bankrate.com.

advertisement

Show Bankrate's community sharing policy
          Connect with us
advertisement
 

A little research could save you BIG on interest.

Don't have time? Our rate-tracker tool saves you time and money. Delivered Thursdays.
 
advertisement
Partner Center
advertisement

Blog

Tara Baukus Mello

Save money on gas over Labor Day

Everyone loves to save money and, with the cost of fuel, saving money on gas can have a sizable impact on your wallet. Now Walmart has jumped on the gas savings bandwagon with its Great Gas Rollback program offered at Walmart and Murphy USA gas stations across the country. Customers can save 15 cents per  ... Read more


Connect with us