--- title: Universal --- [Skip to content](https://north-lake.net/universal#main-content) [![](https://north-lake.net/hs-fs/hubfs/IMG_8372%202.jpg?width=946&height=400&name=IMG_8372%202.jpg)](https://north-lake.net/?hsLang=en) - [Home](https://north-lake.net) - [Health/Medicare](https://north-lake.net/health-insurance) - [Life](https://north-lake.net/life-insurance) Show submenu for Life - [Term](https://north-lake.net/term) - [Universal](https://north-lake.net/universal) - [Whole](https://north-lake.net/whole) - [Dental](https://north-lake.net/dental-insurance) - [Vision](https://north-lake.net/vision) - [Accident/Illness](https://north-lake.net/other) Open main navigation Close main navigation - [Home](https://north-lake.net) - [Health/Medicare](https://north-lake.net/health-insurance) - [Life](https://north-lake.net/life-insurance) Show submenu for Life - [Term](https://north-lake.net/term) - [Universal](https://north-lake.net/universal) - [Whole](https://north-lake.net/whole) - [Dental](https://north-lake.net/dental-insurance) - [Vision](https://north-lake.net/vision) - [Accident/Illness](https://north-lake.net/other) [Get Insurance Quote](https://north-lake.net/get-help-with-insurance?hsLang=en) # Universal Life Insurance ### What is Universal Life and How Can I Use It?       Universal life insurance is a type of permanent life insurance that offers adjustable premium payments and the ability to modify your death benefit within certain limits. It often includes a cash value component that accrues interest or other investment gains, tax-deferred. There are three main types: Guaranteed Universal Life, Indexed Universal Life, and Variable Universal Life, with the primary difference being the method of cash value growth. Indexed policies are tied to a financial index, like the S&P 500, while variable policies are linked to investment sub-accounts. #### Benefits of Universal Life Insurance: - Flexible premium payments and death benefits: You have the option to adjust your premium payments and death benefit amount, providing more control and flexibility to suit your changing financial needs. - Generally more affordable than whole life insurance: Universal life insurance typically offers lower premiums compared to whole life insurance, making it a more cost-effective option for many individuals. - Cash value can be used for savings or investment: The policy accumulates cash value over time, which can be used as a savings tool or invested for potential growth, offering financial flexibility. - Allows for withdrawals or policy loans: You can access the cash value through withdrawals or loans, providing financial support in times of need without disrupting your insurance coverage. #### Factors Affecting Cost: - Age: Older individuals typically face higher premiums due to increased risk of mortality. - Coverage length and amount: Longer coverage periods and higher coverage amounts lead to higher premiums. - Criminal and driving records: A history of criminal activities or poor driving can increase premiums. - Family medical history: A family history of certain diseases or health conditions can affect your premiums. - Gender: Premiums may vary based on gender, as life expectancy differs between men and women. - Health status: Overall health, including any pre-existing conditions, significantly influences insurance costs. - Occupation and hobbies: High-risk occupations or hobbies can lead to increased premiums. - Financial history, including bankruptcy: Poor financial history or bankruptcy can impact premiums, as insurers consider financial stability. - Smoking habits: Smokers typically pay higher premiums due to increased health risks. #### **Security for You and Your Family:** Life insurance is not only a financial investment but also an investment in your family's future. It offers protection, security, and a legacy of love. Don't leave your loved ones' future to chance—let us help you choose a life insurance product that fits your family's needs and safeguards their financial well-being. Contact us today to learn more about our life insurance options and take the first step towards securing your family's future. ![DALL·E 2024-01-16 13.09.13 - A minimalist image showcasing a life insurance policy document with a monochromatic color scheme primarily using hex color #3d7f95. The document lies ](https://north-lake.net/hubfs/DALL%C2%B7E%202024-01-16%2013.09.13%20-%20A%20minimalist%20image%20showcasing%20a%20life%20insurance%20policy%20document%20with%20a%20monochromatic%20color%20scheme%20primarily%20using%20hex%20color%20%233d7f95.%20The%20document%20lies%20.png) [Get Insurance Quote](https://north-lake.net/get-help-with-insurance?hsLang=en) ![_NL logo2.3 copy-3](https://north-lake.net/hs-fs/hubfs/_NL%20logo2.3%20copy-3.png?width=250&height=135&name=_NL%20logo2.3%20copy-3.png "_NL logo2.3 copy-3") ![Rob Round Thumbnail](https://north-lake.net/hubfs/Rob%20Round%20Thumbnail.jpg "Rob Round Thumbnail")   Licensed agents: Rob Rowley and Heather Rowley   **Pages** [Home](https://north-lake.net/home?hsLang=en) [About](https://north-lake.net/about?hsLang=en) [Contact](https://north-lake.net/contact?hsLang=en) [Health Insurance](https://north-lake.net/health-insurance?hsLang=en) [Dental Insurance](https://north-lake.net/dental-insurance?hsLang=en) [Life Insurance](https://north-lake.net/life-insurance?hsLang=en) [Vision/Critical Illness/Accident](https://north-lake.net/other-insurance?hsLang=en) [Request a Quote](https://north-lake.net/get-help-with-insurance?hsLang=en) Copyright © 2026, North Lake Insurance