What Is Whole Or Universal Life Insurance? 
Whole life and Universal Life are two types of permanent life insurance . Whole life can be participating or non-participating . Participating can receive dividends , whole life typically has guaranteed premiums and cash values . The `` investment '' is done for you and the policy does not require much if any management other than paying the premium . Universal Life is more flexible than whole life , it is an `` unbundled '' permanent insurance policy . The premium is flexible between a minimum and maximum . You can choose between various cost of insurance options such as yearly renewable term or level . You have a variety of investment options to choose from . In short you get to , and need to make decisions to manage the policy . If you have further questions , or feel that I could be of assistance , please do not hesitate to contact me . If you would like to work with a local life insurance broker , you could start with a Google search . For example , if you search for : life insurance broker Halifax or life insurance agent Halifax , my name , along with several others , will come up . You can use the same method to find a life insurance broker in your community . 