What is universal life insurance?

Universal life is permanent life insurance with flexible premiums, an adjustable death benefit, and a cash value account that earns interest. It gives you more control than whole life — you can raise or lower premiums and coverage as your needs change.

How is universal life different from whole life?

Whole life has fixed premiums, a guaranteed cash value growth rate, and a set death benefit. Universal life lets you adjust premiums and the death benefit, and your cash value earns current interest rates instead of a guaranteed fixed rate.

Can I skip premium payments on a universal life policy?

Yes — as long as your accumulated cash value can cover the policy's monthly cost of insurance. This is one of the main flexibility advantages over whole life, but it must be managed carefully so the policy doesn't lapse.

Is universal life insurance a good investment?

It's life insurance first, with a cash value component second. For people who want permanent coverage plus flexibility — and who'll fund the policy properly — it can be an effective long-term planning tool. For pure investment growth alone, other vehicles are usually better.

Product Guide

Universal Life Insurance

Universal life insurance is permanent coverage with flexible premiums, an adjustable death benefit, and a cash value component that earns interest. It gives you more control over your policy than traditional whole life — and as a licensed agent we compare carriers to find the design and current crediting rate that works best for your goals.

What benefits and risks does universal life insurance have?

Flexible premiums

Adjust how much you pay — increase, decrease, or even skip payments (as long as cash value covers costs).

Adjustable death benefit

Increase or decrease your coverage amount as your needs change over time.

Cash value accumulation

Your policy builds cash value that earns a competitive interest rate, tax-deferred.

Lifetime coverage

Like whole life, universal life provides permanent protection that never expires.

Access to cash value

Borrow against or withdraw from your cash value for emergencies, education, or retirement.

Who is universal life insurance best for?

•People who want permanent coverage with more flexibility than whole life
•Those whose income or financial needs may change over time
•Individuals looking to build tax-deferred cash value
•Business owners who want adaptable insurance solutions
•Anyone who values the ability to adjust premiums and coverage

How does it differ from whole life?

Whole Life

Fixed premiums, guaranteed cash value growth, and a set death benefit. Simple and predictable.

Universal Life

Flexible premiums, adjustable death benefit, and cash value that earns current interest rates. More control and adaptability.

Coverage for your circumstances

Explore relevant duties, health history and household needs. A guide is not a promise that this product is available to you.

All health & underwriting guides All occupation & life-stage guides

Why work with an independent agent?

A captive agent usually represents one company. Our network includes 20+ top-rated carriers, with available options depending on your state and profile. We help compare quotes for coverage and underwriting fit at no cost for comparison, without guaranteeing approval or the lowest price. Policy premiums apply.

Licensed Agent vs. captive agent — the full breakdown

Frequently asked questions

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What else should you know?

No Social Security number. No obligation.