For what reason might a client with fluctuating income prefer a Universal Life policy?

A Universal Life policy is particularly attractive to clients with fluctuating income due to its premium flexibility, allowing policyholders to adjust their premium payments based on their financial situation. This feature means that when a client's income is higher, they can choose to contribute more to their policy, potentially increasing their cash value and death benefit. Conversely, during leaner times, they have the option to reduce their premium payments or even skip a payment, without losing the coverage, as long as there is enough cash value to cover the cost of insurance.

This flexibility is crucial for individuals whose earnings can vary significantly from month to month or year to year. It gives them the ability to manage their insurance costs according to their current financial capacity, making it easier to maintain their life insurance coverage in the long run without the stress of fixed, unchangeable premium obligations.