Can you take money out of a universal life insurance policy?

Universal life insurance policies offer a flexible solution for individuals seeking financial security. One significant advantage of this type of policy is the ease of accessing your money. With a universal life insurance policy, you have the freedom to withdraw funds whenever you need them. This access to your money can be particularly useful in times of financial hardship or unexpected expenses. Additionally, you can also borrow against the policy's cash value, providing you with a convenient source of funds. However, it is important to note that any withdrawals or loans will reduce the death benefit and cash value of the policy. Therefore, careful consideration should be given to the amount and timing of any withdrawals to ensure the long-term viability of the policy.