Universal Life Insurance

A universal life insurance policy also provides permanent coverage, but it allows for some flexibility. Universal life policies allow you to make larger or smaller payments, depending on your finances or how the investment account performs. If things go well, you may be able to stop making payments. If they go poorly, you may need to increase the amount you pay to cover the shortfall.

Universal life insurance depends on how the insurance company’s investments perform. If it makes the wrong choices, you may need to pay more than you originally planned.