Does Universal Life Insurance Make Sense? 
Universal life is a versatile financial instrument that has applications in estate , retirement and financial planning . To understand if it makes sense for you an understanding of the product design is needed , A permanent insurance policy has three main components : mortality costs , interest -LRB- earnings -RRB- and expenses . The amount of premium that you pay is determined by those components . With a traditional whole life policy the premium is guaranteed and the insurance company manages the components . You simply pay the premium . With a universal life policy the mortality costs and expenses are typically guaranteed . You choose the investment options and within limits the premium level . WIth this flexibility the bottom line is you get to and have 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 . 