What Is Better Term Or Universal Life Insurance? 
Neither product is better than the other . Deciding whether to buy Term or Universal Life Insurance depends on your needs and budget . Universal Life is a permanent policy that works well for passing your estate to heirs , paying funeral costs , or providing funds to a partner or loved one to buy out your share of a business . Term works well to cover a mortgage , get children through college , or other temporary needs that will end someday . 