• Universal Life
  • Universal life insurance is more flexible than whole life.
    • You can change the amount of your premiums and death benefit.
    • But any changes you make could affect how long your coverage lasts.
  • If your premiums are lower than the cost of insurance, the difference is taken from the cash value.
  • If the cash value reaches zero, your policy could lapse.
  • The company will send you a report each year showing your cash value and how long the policy might last.
    • The estimate is based on the cash value amount, the cost of insurance, and other factors.
    • Review it carefully. You might need to pay more in premiums to keep the policy in effect until the maturity date.

tdi.texas.gov/pubs/consumer/cb018.html