There is no guarantee for life, anything can happen at the blink of an eye. But you must remain ready for the worst-case scenario. People should take life insurance for their loved one, so they do not have to depend on anyone for mercy.
In this article we are going to tell you about Universal Insurance in easy language. Universal Life Insurance is different from whole life insurance. It gives policyholders flexibility in premium payments and death benefits, and also in the saving element of their policies.
When you make a payment to your universal life insurance plan, part of it goes into an investment account, and any interest accrued is credited to your account. The interest you earn grows on a tax-deferred basis, increasing your cash value.