What Is A Universal Life Policy at Life

What Is A Universal Life Policy. Universal life policies are typically marketed as a tool for leaving a substantial inheritance to your loved ones after your death. A universal life insurance policy that builds cash value can be useful if you want to have a cushion down the road.

It also has a cash value that you can access as a loan while you're living. If you need life insurance, its best to keep the policy payments up to date. It is made to cover you for your entire life and payout a set amount of money upon your death.

MELT OFFICE FUTURE LIFE FACTORY Panasonic

It involves a term insurance policy attached to a tax sheltered investment account. A universal life insurance policy that builds cash value can be useful if you want to have a cushion down the road. If you have to buy a new policy later youl be charged at your older age and may have to take a new life insurance medical exam. You don't have to own the policy that covers you.