Universal life insurance is a specific type of permanent life insurance that allows you to help protect your loved ones and build tax-free cash value on your investment. That money can then be used to pay your policy cost in the future.

There are different types of universal life insurance plans but most policies offer flexible premiums, tax-deferred investments, and a death benefit. When the death benefit is paid varies by the type of plan you have. With survivorship universal life insurance the death benefit is paid after the last person on the policy dies, but with joint universal life insurance, the death benefit is paid after the first person on the policy dies. If you want to learn more about universal life insurance and which plan will address your insurance requirements, talk to a Pro Insurance agent today.