Is Universal Life Insurance The Same As Term Life Insurance? 
That is a great question ! And oh , no , they are definitely not the same . In fact , they are really at exact opposites of the life insurance spectrum . Term policies are very inexpensive , are very simple , and explain exactly what is paid and when . The cost and length of the policy are defined , and unchangeable . Universal life policies are exactly the opposite . The length of the policy is described as whole life , but can end if conditions of performance are n't met . The price you pay for the policy can also vary , as can the benefit to be paid , again based upon the performance of the policy . This policy requires that you pay attention to it 's performance , to ensure that it does what you want it to do , while a term policy runs on auto-pilot . If you want more information , please inbox me , ok ? I hope that helps , thanks for asking ! 