What is universal annuity life?

A universal annuity life is a type of insurance product that combines features of life insurance with investment components, offering both death benefits and cash value accumulation. This flexible financial instrument allows policyholders to adjust their premium payments and death benefit amounts over time. The cash value grows based on a credited interest rate or investment performance, providing potential for growth while ensuring a death benefit for beneficiaries. It's designed for individuals seeking both protection and investment opportunities within a single policy.