Universal Life.
Universal life insurance is a form of permanent life insurance that combines lifelong protection with an investment component.
It offers flexibility in how premiums and investment options are structured, subject to the terms of the policy. Growth inside the policy can receive tax-advantaged treatment within government limits.
Policy values may be accessed through withdrawals or loans, but doing so can affect the cash value, death benefit and taxes. Universal life can be useful for certain long-term insurance, estate and financial planning needs, but the costs, investment options and policy structure should be carefully considered.