What is a primary feature that differentiates Universal Life insurance from other cash value life insurance?

A primary feature that differentiates Universal Life insurance from other cash value life insurance is the flexible premium options. Unlike whole life insurance, where premiums are typically fixed and scheduled, Universal Life insurance allows policyholders to adjust their premium payments according to their financial situation and needs. This means that individuals can pay more than the minimum required premium during profitable months and less when they have tighter budgets, which provides a level of financial flexibility that can be especially beneficial.

Additionally, Universal Life insurance allows policyholders to also adjust the death benefit, depending on their changing needs. This adaptability can help ensure that a policy remains suitable throughout various stages of life, which is a significant advantage over more rigid life insurance products.