Does a universal life policy expire?

Contents

Unlike term life, universal life insurance doesn’t expire — it covers you until death. And unlike whole life, you’ll earn market-based interest on your cash value account. But with more control comes more responsibility. If that doesn’t sound like a burden to you, universal life can be a good choice. Oct 28, 2021

What is a disadvantage to a credit life insurance policy?

Drawbacks of credit life insurance Credit life insurance is usually more expensive than term life policies of equal value. The death benefit is reduced as you pay down the loan, meaning you lose value as the product matures because your premiums stay the same. Oct 28, 2021

Is universal life permanent insurance?

Universal life insurance is also a type of permanent life insurance. Like whole life, universal life offers permanent coverage and the ability to grow cash value over time. Jan 24, 2022