Does Universal Life Insurance Have A Cash Value? 
Yes . Universal Life Insurance is designed to build cash value so that it will cover the cost of the insurance as you get older . In simple terms , its like owning a mobile home -LRB- which you have equity in -RRB- while renting the land underneath you -LRB- a cost that goes up over time -RRB- . The more cash you put into it , the better the chance that the policy will remain in force when you need it most -LRB- at life expectancy -RRB- . Some Universal Life Policies , like Guaranteed Death Benefit Universal Life , may not have ANY cash value though and will remain in force because of the guaranteed premiums that have been paid . In this case , the insurance carrier gives the insured the protection to a set age regardless of performance of the policy -LRB- i.e. interest credited or performance of the funds -RRB- in lieu of cash surrender value . Be careful if buying a UL policy as there are a lot of moving parts , but it can be a very useful product if you need flexible premiums and are unsure about your cash flow . 