Whole Life vs. Universal Life Insurance

Insurance

Whole Life vs. Universal Life Insurance

What is

Whole Life vs. Universal Life Insurance

Insurance?

Whole Life vs. Universal Life Insurance: An Overview

These two types of life insurance both fall into the category of permanent life insurance. Unlike term insurance, which guarantees a death benefit payout during a specified period, permanent policies provide lifetime coverage. If you cancel your permanent life policy, you will receive the policy's cash value (minus any fees).1

These types of life insurance policies are both typically comprised of two parts: a savings or investment portion and an insurance portion. This makes the premiums higher than those for term policies. Policyholders can also borrow against the cash value of the policy. For this reason, permanent life insurance is also known as cash-value insurance.

While similar in some respects, whole life and universal life insurance policies have some key differences. Whole life insurance offers consistency, with fixed premiums and guaranteed cash value accumulation.2 Universal life insurance gives consumers flexibility in the premium payments, death benefits, and the savings element of their policies.3 Here, we'll look deeper into each of these types.


KEY TAKEAWAYS

  • Whole life and universal life insurance are both types of permanent life insurance.
  • Whole life insurance offers consistent premiums and guaranteed cash value accumulation, while a universal policy provides flexible premiums and death benefits.
  • You can borrow against the cash value of a whole or universal policy.

What’s a Rich Text element?

The rich text element allows you to create and format headings, paragraphs, blockquotes, images, and video all in one place instead of having to add and format them individually. Just double-click and easily create content.

Static and dynamic content editing

A rich text element can be used with static or dynamic content. For static content, just drop it into any page and begin editing. For dynamic content, add a rich text field to any collection and then connect a rich text element to that field in the settings panel. Voila!

How to customize formatting for each rich text

Headings, paragraphs, blockquotes, figures, images, and figure captions can all be styled after a class is added to the rich text element using the "When inside of" nested selector system.

  • Uninsured motorist coverage (UM) is an add-on coverage for auto policies that will pay for injuries and damages caused by an uninsured driver.
  • Hit-and-run drivers are also considered uninsured motorists.
  • Uninsured motorist coverage usually adds only a small cost to an auto insurance policy but provides beneficial coverage.

Check Rates on...

Here are some of our impressive metrics.

20%

Avg. Savings Rate

$400/yr

Avg. Savings

80

Insurance Providers

Talk to a seasoned Insurance expert to learn more about what coverage you need.
We'll get you on the right path in no time!

Atlas One Service Features

Automatic Remarketing

Every 2 years we research your market to find you better rates for the same level of coverage. We do this for you absolutely free.

Digital Platform

We bring the power of an Insurance Broker to a digital format. Our digital platform makes it possible to find the best insurance coverage from the comfort of your own bed.

Concierge Service

We work with you to create the best possible experience. No matter what unique circumstances you find yourself in, we come along side to get you the coverage you need.

Coverage and availability varies by risk type, state and insurance carrier. Not all coverages are available as specified and there are many variances among carriers.

Website Developed by Moonlight N' Stuff