Universal Life Insurance

Universal Life insurance is a hybrid or "happy medium" between term life insurance and permanent life insurance. You still have a fully guaranteed death benefit and cost of insurance, but in this case, you have the ability to take advantage of investing your money inside a life insurance policy and earning tax deferred interest at the same time. In other words, you control how much coverage you own, how much of your money you invest each month or year, and even how your money will be invested once inside this policy. This is great for those looking to protect their hard earned money from having to pay more taxes on the interest you earn. A simple analogy is to consider Universal Life Insurance as a way of keeping "money under the mattress" while still earning tax deferred interest at the same time.