Universal life insurance provides an added return on your investment for those you leave behind.
Universal life insurance is permanent insurance that combines death protection with savings, giving you added security from your policy. Premiums pay for more than just the cost of insurance. The life insurance company invests part of your premium on your behalf, and the return is paid back into the policy as interest earnings. Plus, universal life policies are transparent, giving you the opportunity to monitor their cash value growth. As long as the cash surrender is sufficient to pay the annual costs of insurance, you can actually skip a premium, or reduce or increase the premium as needed.
