Increasing death benefit option: Some universal life (UL) policies offer an increasing death benefit, where the death benefit grows alongside the cash value. This option can provide greater long ...

Level death benefit: This option keeps the death benefit constant throughout the policy’s life, similar to whole life insurance. Increasing death benefit: This option increases the death benefit ...

However, any payments you receive will reduce your policy’s death benefit accordingly. In addition, you can obtain this coverage without worrying about premiums increasing over time.