Lifestyle
Who Should Consider Buying a Universal Life Insurance Policy?
Universal life insurance is a type of permanent life insurance policy. That means it covers you for life and comes with a cash value growth component. Once you build enough cash value, you can withdraw from or borrow against it. You also receive the full value minus surrender charges if you surrender the policy. Universal life insurance also lets you increase your death benefit or decrease your premiums, providing you with more flexibility.
All these features make universal life insurance a good potential investment for many types of people. With that in mind, this article will cover several circumstances where getting a universal life insurance policy can be helpful.
1. Those who need lifelong coverage
Universal life insurance offers lifelong coverage as long as you stay current on your premium payments. That means, unlike with term life insurance, you don’t need to worry about your policy expiring.
Another benefit to lifelong coverage is that you can lock in your premiums for the rest of your life. Life insurance premiums rise with age, but once you buy life insurance, your premiums remain fixed unless you adjust them within your policy.
2. Parents with multiple children
Raising a child can cost an average of almost $13,000 per year. Plus, parents may have to save money for each child’s college education. This can make it challenging for one parent to raise multiple children if their partner passes away — even if both partners earn incomes.
Universal life insurance can help alleviate these worries. If you pass away, your partner will receive a substantial death benefit to replace your income, pay off debts, and set aside money for the future.
Thanks to the cash value, universal life insurance can also help you raise your children even if you don’t pass away. Over time, your cash value may grow quite large. You can withdraw from or borrow against it at favorable terms and low rates. This offers you the funds to pay for family expenses and potentially cover your children’s college educations. Finally, if you ever need to change coverage to save money on premiums or up your death benefit, universal life insurance lets you do that.
3. Those who want to build wealth
A universal life insurance policy’s cash value can offer a source of wealth for policyholders. As mentioned, you can withdraw from it when it grows large enough, although you must be aware of any tax consequences. Y ou can also borrow against it at low rates. However, you must make sure the loan balance doesn’t grow larger than the cash value, or the policy could lapse. Finally, if you decide you no longer need life insurance and surrender the policy, you can receive all of your cash value minus surrender charges.
In any case, this cash value can offer a significant source of wealth when used wisely. You could use the proceeds to refinance or pay off debt, supplement your retirement funds, make large purchases, travel, and more.
The bottom line
Universal life insurance can fit many people’s needs. It offers lifelong coverage, which allows you to get a policy early and lock in premiums without worrying about coverage expiring.
Families with many children can find it useful as well. You can rest assured that your partner and children will be protected if you pass away. Plus, you can use the cash value to help cover childcare costs and future expenses, like education.
Finally, anyone who wants to build wealth could find universal life insurance helpful. You can withdraw or borrow from the cash value to travel, pay off debt, boost your retirement funds, and more. So, consider looking for universal life insurance if any of these describe your situation and financial needs.
Lifestyle
Wanda Knight on Blending Culture, Style, and Leadership Through Travel
The best lessons in leadership do not always come from a classroom or a boardroom. Sometimes they come from a crowded market in a foreign city, a train ride through unfamiliar landscapes, or a quiet conversation with someone whose life looks very different from your own.
Wanda Knight has built her career in enterprise sales and leadership for more than three decades, working with some of the world’s largest companies and guiding teams through constant change. But ask her what shaped her most, and she will point not just to her professional milestones but to the way travel has expanded her perspective. With 38 countries visited and more on the horizon, her worldview has been formed as much by her passport as by her resume.
Travel entered her life early. Her parents valued exploration, and before she began college, she had already lived in Italy. That experience, stepping into a different culture at such a young age, left a lasting impression. It showed her that the world was much bigger than the environment she grew up in and that adaptability was not just useful, it was necessary. Those early lessons of curiosity and openness would later shape the way she led in business.
Sales, at its core, is about connection. Numbers matter, but relationships determine long-term success. Wanda’s time abroad taught her how to connect across differences. Navigating unfamiliar places and adjusting to environments that operated on different expectations gave her the patience and awareness to understand people first, and business second. That approach carried over into leadership, where she built a reputation for giving her teams the space to take ownership while standing firmly behind them when it mattered most.
The link between travel and leadership becomes even clearer in moments of challenge. Unfamiliar settings require flexibility, quick decision-making, and the ability to stay calm under pressure. The same skills are critical in enterprise sales, where strategies shift quickly and no deal is ever guaranteed. Knight learned that success comes from being willing to step into the unknown, whether that means exploring a new country or taking on a leadership role she had not originally planned to pursue.
Her travels have also influenced her eye for style and her creative pursuits. Fashion, for Wanda, is more than clothing; it is a reflection of culture, history, and identity. Experiencing how different communities express themselves, from the craftsmanship of Italian textiles to the energy of street style in cities around the world, has deepened her appreciation for aesthetics as a form of storytelling. Rather than keeping her professional and personal worlds separate, she has learned to blend them, carrying the discipline and strategy of her sales career into her creative interests and vice versa.
None of this has been about starting over. It has been about adding layers, expanding her perspective without erasing the experiences that came before. Wanda’s story is not one of leaving a career behind but of integrating all the parts of who she is: a leader shaped by high-stakes business, a traveler shaped by global culture, and a creative voice learning to merge both worlds.
What stands out most is how she continues to approach both leadership and life with the same curiosity that first took her beyond her comfort zone. Each new country is an opportunity to learn, just as each new role has been a chance to grow. For those looking at her path, the lesson is clear: leadership is not about staying in one lane; it is about collecting experiences that teach you how to see, how to adapt, and how to connect.
As she looks to the future, Wanda Knight’s compass still points outward. She will keep adding stamps to her passport, finding inspiration in new cultures, and carrying those insights back into the rooms where strategy is shaped and decisions are made. Her legacy will not be measured only by deals closed or positions held but by the perspective she brought, and the way she showed that leading with a global view can change the story for everyone around you.
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