universal life insurance

American  

noun

1. 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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Other Word Forms

• universal-life adjective

Example Sentences

Indexed universal life insurance is also being sold to a lot of young people who don’t have kids and who don’t need any type of permanent life insurance, Rice says.

From MarketWatch • Apr. 1, 2026

I would advise against thinking about indexed universal life insurance as a “stock alternative.”

From MarketWatch • Apr. 1, 2026

So they’ll sometimes recommend whole or universal life insurance policies, which allow for stock market investment on the side.

From Slate • Nov. 2, 2016

These financial woes, along with his purchase of the universal life insurance shortly before the fire, combined to form the alleged motive.

From Slate • Aug. 15, 2015

The government alleged that Digati bought variable universal life insurance from the insurer, which was not identified.

From Reuters • Mar. 8, 2010