Which benefit does not typically change over the course of a Universal Life insurance policy?

The death benefit in a Universal Life insurance policy is designed to provide a guaranteed amount to the beneficiary upon the policyholder's passing, and it typically remains unchanged throughout the life of the policy unless the policyholder decides to adjust it. This fixed nature of the death benefit offers a level of security for policyholders and their beneficiaries, ensuring that the expected payout remains consistent unless specifically altered by the policyholder.

On the other hand, the investment component of the policy can vary with market conditions, and differing choices in the policy can lead to fluctuations in cash value growth and premium payments. For instance, policyholders may choose to pay more or less in premiums, influencing the cash value of the policy. In addition, the cash value growth is tied to the performance of the investments selected within the policy, allowing it to change as investment returns fluctuate.

Therefore, the death benefit serves as a stable element within the Universal Life insurance policy, contrasting with the other components that are more subject to change based on various factors.