Universal Life Insurance and How to Know if it's the Choice for You
When is Universal Life Insurance a Good Option and What to Look Out for When you are starting out, protecting what you are building is important. Insure your life, insure your dreams. Credit: CaiaImageCLOSED / CaiaImage / Getty Images Universal life insurance (UL) is a hybrid life insurance policy which combines elements of term life insurance with an investment savings option. Universal life combines the ability to build savings at the same time as providing you a life insurance policy. This allows flexibility in what you can do with the savings or investment portion of the premium. Universal life insurance also contains an element of long-term investment strategy because it required you build the values in the investment portion through part of the amount you pay monthly. Universal Life Insurance Options: Indexed Universal Life Insurance (IUL) vs UL The success of a universal life insurance plan depends greatly on the investments in the plan you choose and market performance.