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 Glossary   >   U   >   "Universal life insurance" Definition   

        Universal life insurance

A combination of term life insurance and a savings element which is invested to provide a cash value build up. The policy is flexible in that the death benefit, savings element and premiums can be reviewed and altered from time to time as a policyholder"s circumstances change.

Universal life insurance


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Universal life insurance - A combination of term life insurance and a savings element which is invested to provide a cash value build up. The policy is flexible in that the death benefit, savings element and premiums can be reviewed and altered from time to time as a policyholder"s circumstances change.


Universal life insurance : a combination of term life insurance and a savings element which is invested to provide a cash value build up. the policy is flexible in that the death benefit, savings element and premiums can be reviewed and altered from time to time as a policyholder"s circumstances change.