Universal Life Insurance Definition
The universal life insurance definition pertains to a kind of permanent life insurance which is based on the value of cash. This means that the insurer establishes the policy and first-rate payments exceeding the price of insurance are attributed to the cash worth. The cash value is endorsed monthly with interest, and the guidelines are deducted every month with COI or cost of insurance charge. If no premium payment is completed that month, the cash value is drained by a few other policy fees