Universal life insurance provides permanent protection for your dependents and is more flexible than whole or variable life.

What it does:
It pays a death benefit to the beneficiary you name and offers you a low risk cash value account and tax deferred accumulation.

It allows you to earn market rates of interest on your cash value account.

It offers the right to borrow or withdraw from the policy during your lifetime.

It allows you premium flexibility.

It offers face amount flexibility.

What it doesn't do:
It doesn't offer you the account flexibility to invest in separate accounts such as money market, stock, and bond funds.

It doesn't allow you the account flexibility to split your money among different accounts or to move your money between accounts.