universal life insurance

Definition of "universal life insurance"
  1. A life insurance policy permitting the holder the flexibility of adjusting death benefits, savings elements and premiums, which are influenced by the performance of its investments and market rates
How to use "universal life insurance" in a sentence
  1. Due to its flexibility, many prefer universal life insurance over other policies.
  2. The investment performance of the universal life insurance policy can affect the premium.
  3. The universal life insurance policy provided detailed information on how the premium payment was used.

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