What Is Universal Life Insurance Vs Whole Life? 
That is a great question ! Both whole life and universal life insurance policies are cash value building life long policies . Whole life is simple , you pay a set premium every month , and the policy lasts as long as you do , as long as you keep making payments . The death benefit is specifically stated . A universal life policy is not quite so simple . These policies are often marketed with promises of great value growth , and perhaps not so clearly explaining the risks or the things that have to happen to get that great gain . These policies are typically only guaranteed to last 20 years . The payments are given to you in a range , and can vary even from that range . The amounts paid in , the performance of the invested funds , and the cost of the insurance will dictate how long the policy stays in effect , and whether there is growth . I guess a good way to describe it to you is that if you were looking for a policy that you could buy , make payments on and forget about , buy a whole life policy . If you want a policy that could have great gains , that you can watch the performance of , and change the payments of , then buy a UL policy . I hope that helps , thanks for asking ! 