Universal life insurance cash value can be used to cover some or all of the policy’s premiums once enough value has accumulated. Doing so reduces the amount you pay out of pocket, but it also draws down cash value. If the policy becomes inadequately funded, you may need to resume or increase premium payments to keep the coverage in force.
verifiedCite
While every effort has been made to follow citation style rules, there may be some discrepancies.
Please refer to the appropriate style manual or other sources if you have any questions.
Select Citation Style