Most universal life policies don’t mature: they cover you for life. Paying at least the minimum premium your policy sets keeps your coverage in force. If you pay less, the account inside the policy has to cover the monthly cost of insurance and fees, and if it runs short, you’ll need to pay more to keep your coverage.
What happens when a universal life insurance policy matures?
Reviewed by Garrett Agencies Ltd., October 2026. How we write
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More about universal life insurance
Permanent life insurance with flexible premiums and an investment account inside the policy.
More questions about universal life insurance
- What is universal life insurance?
- How does the investment component of universal life insurance work?
- Can I withdraw money from my universal life insurance policy?
- Can universal life insurance be converted to whole life insurance?
- Are indexed universal life insurance (IUL) or variable universal life insurance (VUL) policies available in Canada?
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