Review:
Universal Life Insurance
overall review score: 4.2
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score is between 0 and 5
Universal life insurance is a type of permanent life insurance that combines the benefits of a traditional life insurance policy with an investment component.
Key Features
- Lifetime coverage
- Flexible premiums
- Cash value accumulation
- Adjustable death benefits
Pros
- Offers lifelong coverage
- Flexibility in premium payments
- Potential for cash value growth
Cons
- Premiums may increase over time
- Complexity in understanding investment component
- Risk of poor investment performance affecting cash value