What is a key feature of Universal Life insurance?

A key feature of Universal Life insurance is its adjustable death benefits and flexible premiums. This type of policy allows policyholders to modify both the amount of coverage and the premium payments. Unlike traditional whole life insurance, which requires fixed premiums and offers a set death benefit, Universal Life insurance provides greater flexibility. Policyholders can choose to pay more or less in premiums depending on their financial situation, and they can also adjust the death benefit amount within certain limits, which can be beneficial as their needs change over time.

This adaptability makes Universal Life a popular choice for those who may want a life insurance product that can evolve with their financial circumstances and goals. The option to make adjustments can help ensure that the insurance continues to meet the policyholder's needs throughout their lifetime.