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universal life insurance

noun

a type of insurance in which the payments of the insured are placed in an investment fund, earnings from which pay the premium on term life insurance while any remainder continues to increase the policy's value.

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Also called universal-life insurance.

OTHER WORDS FROM universal life insurance

u·ni·ver·sal-life, adjective

Words nearby universal life insurance

universality, universalizability, universalize, universal joint, universal language, universal life insurance, universally, universal military training, universal mill, universal motor, universal negative
Dictionary.com Unabridged Based on the Random House Unabridged Dictionary, © Random House, Inc. 2020