Universal Life Insurance (also called "Adjustable Life Insurance") is another type of permanent life insurance similar to Whole Life Insurance. Universal Life Insurance covers the insured party as long as they live and continue paying premiums. However, Universal Life Insurance provides more flexibility in premiums and coverage changes.

Clients looking for permanent life insurance coverage often consider Whole or Universal Life Insurance. Universal Life Insurance coverage can be appealing to those seeking coverage earlier in life. Some advantages of Universal Life policies are their flexibility and the ability to utilize investment components to cover the plan premiums.