Universal Life Insurance

Universal Life Insurance Explained

Universal life insurance is one of the most flexible life insurance policies on the market. Yet you still might be asking yourself: What is universal life insurance? You may also be wondering how it’s different from term life or whole life. Actually, it’s a bit of both. A universal life policy combines the investment savings of whole life insurance with the lower premiums of term insurance. As a universal life insurance policyholder, you have the power to adjust your premiums and benefits.

Another advantage to universal life insurance is the transparency. When you invest in this type of policy, the cost of the insurance and administration are both disclosed. Once the cost of the actual insurance and administration fees are deducted from your premium, the rest is placed in a savings account. Some of the newer universal life insurance policies even offer a list of investments similar to mutual funds. As cash value accumulates, you can access a portion of it without affecting benefits down the road.

Weighing the advantages of universal vs whole life insurance? Learn more about the differences between life insurance policies and the companies Regal Insurance partners with.