Universal Life is slightly more costly than term; the policy has a cash accumulation which you can draw on without borrowing. You can also adjust both your premium and your face value. The longer that you wait to buy your universal life insurance policy, the more chance there is that you will miss out on the benefits that you need. And if you think that it will take you hours to get a universal life insurance policy in place you are wrong. In today's world you can shop for the policy that you need, and in turn have it in place sooner than you ever thought possible.

It’s a flexible life insurance plan. The flexibility of this policy allows you to change the amount of insurance as your needs for insurance change. As with all life insurance, the main purpose for buying a Universal Life insurance policy is the death protection provided to your loved ones at your death. These policies are interest-sensitive and permit you to adjust the death benefit and/or premium payments, within limits, to fit your situation. Out of each premium payment, a 5% expense charge is deducted. The balance is added to the policy Account Value. The monthly cost of the death benefit and policy administration is deducted from the accumulation fund. As like Whole Life Insurance, the cash value is yours you may withdraw it or borrow against it at any time. There are surrender charges at the time of surrender or withdrawal from the Account Value. Universal Life offer you and your loved ones 1) Lifetime guaranteed monthly income &. 2) Lifetime guaranteed protection for you.