Universal Life Insurance is the one type of life insurance. This is a flexible version of life insurance where you get the savings element of whole life. Universal Life Insurance policies is the combination of death benefits with a savings component or cash value that is reinvested and tax deferred.

Universal life insurance is a form of life insurance, a policy used to provide a family with money after the death of the one getting the insurance. Universal life insurance can be purchased from many of the leading life insurance companies, including Nationwide and American Family.

Universal Life Insurance Policies work by giving death benefits when one dies. Unlike other life insurance policies, universal life insurance policies generate interest over time.

Jeanne G. Thomas has written:

'Universal life insurance' -- subject(s): Life Insurance, Universal life insurance

It is a cashed based, permanent life insurance. You earn interest based on stocks or bonds. There is a savings element involved with universal life insurance. It is more flexible than standard life insurance.