How often can a policyholder typically access the cash value in a universal life policy?

A universal life policy typically allows policyholders to access the cash value through partial surrenders at any time. This feature is one of the distinguishing aspects of universal life insurance, offering flexibility that isn't commonly found in other life insurance options. Policyholders can withdraw funds up to the amount of cash value accumulated in their policy whenever they choose, as long as the policy remains in force and the withdrawal does not exceed the cash value available.

This accessibility is particularly beneficial for individuals who may need funds for emergencies, investments, or other financial needs, as it provides them with both liquidity and the ability to tap into their policy's value without having to terminate the insurance coverage entirely. While there may be certain conditions or impacts on the death benefit, the fundamental premise is that this flexibility empowers policyholders to make financial decisions based on their current needs.