Site loading image

Universal Life Insurance

Permanent protection for your loved ones.

So you can have peace of mind.

What is universal life insurance?

Universal life insurance is a type of permanent life insurance policy. Unlike term life insurance, which lasts for a set period of time, universal life is designed to last for your entire life. Beyond providing permanent protection, a universal life insurance policy also offers a way to build up cash savings that can help cover your family’s financial needs. After you pass away, your beneficiaries will receive a cash payment from the policy called a “death benefit.”

How does universal life insurance work?

With universal life insurance, you’ll pay monthly premiums that are divided between your death benefit and a cash value account. This interest-bearing account continues to grow over time as you add payments beyond your required minimum premiums. Some companies offer indexed universal life, which lets you put some of those dollars toward an equity index account, like the NASDAQ or S&P 500, without actually investing in the market. Eventually, you can use the savings in your cash value account to help pay for your monthly premiums or withdraw them to pay for other day-to-day expenses.

Universal life insurance is one of the most flexible types of permanent life insurance available. If you have changes in your financial situation – like losing your job or getting promoted – you can adjust your monthly premiums and may be able to adjust your death benefit amount to meet your needs better.

Benefits of universal life insurance

Universal life insurance can be a smart choice if you’re looking for permanent financial protection that can adapt as your needs change. With universal life insurance, you'll receive:

  • A guaranteed payout

    A guaranteed payout

  • Guaranteed earnings from interest

    Guaranteed earnings from interest

  • Tax-deferred cash value

    Tax-deferred cash value

  • Flexibility


Compare term and universal lifeinsurance

Term lifeUniversal life
Length of coverageChoose the term that works for you (10, 15, 20, 30 years)Lasts your lifetime - as long as you continue your payments
PREMIUMTypically the most affordable life insurance More expensive than term for same coverage amount
MEDICAL EXAMOptions to waive examTypically required
CASH VALUENonePolicy may build cash value on a tax-deferred basis

Length of coverage

  • Term life

    Choose the term that works for you (10, 15, 20, 30 years)

  • Universal life

    Lasts your lifetime - as long as you continue your payments


  • Term life

    Typically the most affordable life insurance

  • Universal life

    More expensive than term for same coverage amount


  • Term life

    Options to waive exam

  • Universal life

    Typically required


  • Term life


  • Universal life

    Policy may build cash value on a tax-deferred basis

Universal life insurance quotes through eFinancial

At eFinancial, we’re dedicated to providing personalized support as you shop for a universal life insurance or indexed universal life insurance plan. We know you have a lot of options when choosing an insurance company, so we’re committed to helping you find high-quality, affordable universal life insurance quotes that meet your needs.

Let eFinancial give you peace of mind about your loved ones’ financial future. We’re here to help.

You've got universal life insurance questions. We've gotanswers.

Get your quote online, or talk to one of our agents at 888-728-0905.