Universal Life Insurance is good for persons who are looking for a low cost permanent policy that does not accumulate cash value. That is called guaranteed universal life.
On the other hand, universal life can be good for people wanting to build up an accumulation of money to "borrow from themselves" on a tax favorable basis in retirement. That is called indexed universal life or variable universal life.
Universal life is flexible, so is also good for people who want one policy to simply adjust during their lifetime.
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On the other hand, universal life can be good for people wanting to build up an accumulation of money to "borrow from themselves" on a tax favorable basis in retirement. That is called indexed universal life or variable universal life.
Universal life is flexible, so is also good for people who want one policy to simply adjust during their lifetime.