What Is Universal Life Insurance Vs. Whole Life? 
Universal life insurance has two main types : guaranteed universal life and current assumption universal life . Current assumption universal life has two sets of rates , i.e. current company practice and contractual guaranteed rates . It also has three crediting methods : interest rate , indices and separate sub accounts using equities and bonds investments . Participating whole life insurance has guaranteed rates with the potential to return unused premium to the policy owner called non-guaranteed dividends which are declared by the board of director of the insurance company . 