---
title: "What Is Universal Life Insurance? Definition | Epic Life Glossary"
description: "Universal life insurance is a type of permanent coverage with flexible premiums and an adjustable death benefit. Part of each payment funds the cost of..."
url: https://epicline.preview.multisites.ai/glossary/universal-life-insurance
publisher: Epic Life Group
apply: https://epicline.preview.multisites.ai/apply
quote: https://epicline.preview.multisites.ai/get-a-quote
---

Policy types and products

# Universal Life Insurance

Universal life insurance is a type of permanent coverage with flexible premiums and an adjustable death benefit. Part of each payment funds the cost of insurance, and the rest goes to a cash value account that earns interest.

## Why it matters

Universal life lets the owner change the amount or timing of premiums within limits. That flexibility helps when income changes, but it carries risk. If the cash value is too low to cover monthly charges, the policy can lapse. Buyers should ask for a current illustration and check how long coverage lasts at the planned premium. Minimum interest guarantees and charges differ by carrier. Variations include indexed and variable universal life, which link growth to an index or investment accounts.

Source: [iii.org](https://www.iii.org/article/what-are-the-different-types-of-permanent-life-insurance-policies)

## Where we use this term

-   [Indexed universal life (IUL) explained: caps, floors, costs, and risks](https://epicline.preview.multisites.ai/guides/iul-explained)
-   [Indexed universal life insurance: how it works, what can go wrong, and who it fits](https://epicline.preview.multisites.ai/life-insurance/indexed-universal-life)

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