Is Universal Life Insurance The Same As Whole Life? 
While both universal life and whole life insurance are permanent products and have a death benefit the similarities end there . Whole life insurance has a guarantee premium for the life of the contract and generally is credited by a dividend or return of unused premium . Universal life gas four policy types : current assumption universal life , guaranteed universal life , indexed universal life and variable universal life . With the exception of guaranteed universal life , the others have flexible premiums or death benefit that can be changed by the policy owner . 