Universal life insurance: How does it work?
Universal life insurance is a type of permanent life insurance that offers flexibility and a savings component. Here’s a breakdown of how it works: 1. Insurance Coverage: 2. Premium Payments: 3. Cost of Insurance (COI): 4. Cash Value Component: 5. Death Benefit: 6. Policy Adjustments: 7. Potential Drawbacks: Overall, universal life insurance provides flexibility and … Read more