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Universal life is a whole life policy that combines __term___- life insurance and __investment__ elements.
Universal Life Insurance: What Is It?
Permanent life insurance includes universal life insurance. If the insured person has a universal life insurance policy, they are protected for the rest of their lives as long as they continue to pay their payments and adhere to all other policy conditions. Universal life insurance combines lifelong protection with a savings element, known as "cash value," like many permanent life policies. The death benefit of the policy is distributed to your beneficiaries after your passing.
What advantages does universal life insurance offer?
In addition to providing everlasting protection, universal life insurance has the following extra features:
- The cash value of the policy may be withdrawn or used as collateral for a loan.
- You receive interest on your cash value.
- Premiums are flexible for you.
- A death benefit is a movable object.
Learn more about insurance with the help of the given link:
brainly.com/question/8059922?referrer=searchResults
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