You should buy a Universal Life Insurance policy when you are looking for a type of insurance covering you for your whole life, and you have the power to adjust the policy for every specific period and get some interest besides its protection role. Although the Universal Life Insurance offer's interest rate is typically lower than a Whole Life Insurance policy, Universal Life Insurance gives you a more affordable premium rate besides the flexible death benefits. Let me tell a bit more about the flexibility characteristics of the Universal Life Insurance Policy: You can request an increase or decrease in the insurance amount when your insurance needs change without jumping into a new insurance policy. Especially, you have the choice to create your own "payment strategy" to suit your financial situation and needs.