Where To Buy Universal Life Insurance? 
The same companies that carry Term Life Insurance often carry Universal Life Insurance , and most agencies that sell Term also sell UL . When purchasing online , you will want to work with a licensed agent who has some experience , so they will understand the in 's and out 's of Universal Life . There are several types of Universal Life Insurance . Guaranteed UL allows you to lock in a level premium that will guarantee the policy to pay the death benefit to a certain age . This guarantee might be 20 years from now ; it might be to age 121 , or something different . It is important to select a guarantee to avoid the problems Universal Life presented in the past , when people bought while interest rates were high , and their policies started lapsing much earlier than anticipated when interest rates dropped . There are also many Universal Life policies that do not have `` no lapse '' guarantees . How long your coverage last relies on what the interest rate and cost of insurance are at any given time . Variable Universal Life allows you to invest in the stock market , with the potential for more growth -LRB- and more loss -RRB- than other UL policies . Indexed Universal Life allows you to take advantage of some modest gains by allocating premium to equity index accounts . While it does not have as much cash growth potential as VUL , it has much more protection from losses . Added to these are Survivor Universal Life policies off all types . These cover two people , and pay when the second person dies . Again , you 'll want to use an experienced agent when you buy UL . There are many knowledgeable agents on this website who can help you . 