What Are The Drawbacks Of Universal Life Insurance? 
There are several moving parts in a universal life insurance policy : cost of insurance , premium load , policy loans expense charges , administration and policy fee . There are two sets of rates for each of those moving parts : current company practice and contractual guarantees . The life insurance company can change the current charges to the maximum charges . This right to change could be extremely punitive if exercised by the company , which is the greatest drawback to owning a universal life policy . 