When Did Universal Life Insurance Start? 
That is a great question ! Universal life policies were thought up in the 1960 's , and became popular in the late 60 's , and early 1970 's . They were designed to capitalize on the rising stock market values , as normal life insurance could not match the returns investors could get from the market . The policies were created so the buyer could put in their premium , and invest it in the market . The next step was the variable UL , which very closely mimicked a mutual fund in the way it was managed . What many people learned to their dismay was that when the market dropped , their insurance went belly up , and they no longer had coverage . While these policies have been retooled to be a little safer since then , theycanstill be a very risky way to go . I hope that helps , thanks for asking ! 