How does universal life insurance work?

A type of flexible permanent life insurance offering the low-cost protection of term life insurance as well as a savings element (like whole life insurance) which is invested to provide a cash value buildup. The death benefit, savings element and premiums can be reviewed and altered as a policyholder's circumstances change. In addition, unlike whole life insurance, universal life insurance allows the policyholder to use the interest from his or her accumulated savings to help pay premiums. Universal life insurance was created to provide more flexibility than whole life insurance by allowing the policy owner to shift money between the insurance and savings components of the policy. Premiums, which are variable, are broken down by the insurance company into insurance and savings, allowing the policy owner to make adjustments based on their individual circumstances. For example, if the savings portion is earning a low return, it can be used instead of external funds to pay the premiums. Unlike whole life insurance, universal life allows the cash value of investments to grow at a variable rate that is adjusted monthly.

Thank you for your kind invitation to answer this question  , regret unable to be of use in this respect as my information in this side of insurance classes is very poor.

Thanking.you .

To resume, the insured choose the amount to be paid to the beneficiaries after his death. Based on that the premium will be determined. Any additional payment made by the insured (over the cost of insurance) will be used to raise the income of his placement or raise the amount of his death capital. I hope the above is clear enough.