Best universal life insurance companies: Bankrate

March 29, 2022 by Cate Deventer

Life insurance can be an important purchase. Basic policies are designed to help provide a financial cushion for your loved ones in the event of your passing, but that’s not all life insurance can do. Universal life insurance, also called UL coverage, can be a great choice if you’re looking for a flexible policy with added perks. A universal life policy allows you to increase or decrease your death benefit to suit your needs, allowing you to control your premium. Additionally, universal life is a type of permanent life insurance and comes with a cash value component that you may be able to withdraw or borrow against while you’re still living.

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Originally Posted at Bankrate on March 22, 2022 by Cate Deventer.