How Much Should I Pay For Universal Life Insurance? 
There is no one set guideline regarding what to pay for life insurance , and that is especially true of universal life insurance . UL is very flexible and can be designed to fit many different budgets , needs , and goals . E.g. . You may want to buy universal life as a relatively inexpensive way to have permanent coverage for the rest of your life . Or you may want to buy IUL -LRB- indexed universal life -RRB- as a way to accumulate cash value to borrow from during retirement . In the first scenario , you would put in the minimum needed to guarantee that the policy will still be in effect when you die . In the second scenario , you would pay large premiums into your policy so that there is enough cash to supplement your retirement income later on . Aside from these considerations , universal life insurance premiums also takes into account your age , health factors , and tobacco use . So it is impossible to answer this for everyone . But a good life insurance agent is essential to helping you get the best possible price for a policy that will work well for your needs , desires , and budget . 