Family & Health > All Family & Health > HE-0658

Universal And Variable Life Insurance
Fred Waddell, Josephine Turner
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Pages / Length: 4
Publication Date: 10/10/1998

Universal life is a type of whole life insurance. It is a mix between term insurance and a savings fund, and it earns interest at a money market rate. You pay a yearly fee for this insurance coverage, which includes a cost of managing the policy. Funds not paying for insurance earn tax-deferred interest.