A Good Long Term Investment
A universal life insurance policy is more flexible and less expensive than a whole life insurance policy, but the interest rates have lower guarantees. Premiums may be increased or decreased by the policyholder within policy limits in order to change the policy as needs change. The amount of life insurance may be increased, subject to evidence of insurability, or decreased subject to minimums set by each Colorado life insurance company. Loans can be taken from the policy once it has gained a cash value, but can reduce the cash surrender value and death benefit. Withdrawals may also be taken but can also reduce the cash surrender value and death benefit.