| When you think about insurance, two kinds probably | | | | borrowing from your universal account or policy, a |
| come to mind: term insurance and whole insurance. | | | | convenience that is similar to a whole life insurance |
| However, before you start looking for quotes, you | | | | policy. Lastly, your universal life insurance policy offers |
| should also know about the advantages and | | | | both face amount and premium flexibilities. |
| disadvantages of another kind: universal life insurance. | | | | Yet, even though your universal policy will offer |
| You may find that universal life insurance is the | | | | flexibility, it will not offer the account flexibility |
| perfect mix of term life and whole life policies. | | | | needed to move your money around or invest in |
| If you're considering obtaining a quote, you may be a | | | | different accounts. There is also no guarantee that |
| bit surprised to find that there are several | | | | your policy will earn cash value, nor is there |
| advantages to universal policies. First, your universal | | | | guarantee that it will be in effect when you need it if |
| policy offers permanent protection, unlike a term | | | | sufficient premiums have not been paid. |
| policy. Second, your universal policy offers accounts | | | | Some people prefer universal because they are |
| for cash value that are low risk. Plus, the cash | | | | sprinkled with the benefits of both term and whole |
| accumulation is tax-deferred, which means you won't | | | | policies. But, before you decide to get a universal |
| have to pay taxes for the cash your policy | | | | quote, make sure you are aware of all the |
| accumulates. In addition, your policy's cash value | | | | advantages and disadvantages that will come with |
| account can also earn interest with market rates. | | | | the universal life insurance policy. |
| Third, you have the options of withdrawing or simply | | | | |