Accumulate Cash Value

Cash value generally accumulates at a currently competitive interest rate. There is also a guaranteed minimum interest rate. In addition, under the current law, the growth of your cash value is income tax deferred.

Universal life policies allow you to borrow a portion of your cash value (within policy limits, subject to policy loan interest rate, and if sufficient cash value exists to maintain coverage) for any reason to help cover major expenses such as emergencies, a down payment for a new home, college costs, or retirement. So your policy keeps up with your changing financial needs.