If you are someone who wants to have the choice of paying only for the life insurance policy or adding an investment component to grow its value then universal life insurance is the right option for you. The three primary advantages of universal life insurance are its affordability in its low cost relative to other types of permanent life insurance, its flexibility in the amount of the premiums that you pay and its opportunity to pay more to overfund the policy and grow its value. You can choose to have an investment option that will grow the universal life insurance policy value.

Universal life insurance, also known as UL, is a very flexible form of permanent insurance that can be cost effective and provide great value for a wide variety of uses such as an inexpensive option to pay for a final expense policy, a viable means to grow your retirement nest egg, a useful method to fund a future tax bill on a family vacation home that will be passed down to your children or an easy way to grow the value of the policy through the use of investment options.

Universal life insurance is a form of permanent insurance that gives you the choice of paying for only the life insurance, or you can pay more to fund an investment option. The investment option can be similar to a mutual fund or a GIC potentially increasing the value of the policy.