What Is Good About Universal Life Insurance? 
Flexibility is the primary advantage of a universal life plan . The next advantage is that the earnings on the cash value portion of the policy are handled by a separate account , not the normal fund that a company would use for their whole life contracts . This account tends to have a better yield . The flexibility of the policy means that you can design death benefit and premium schedule to meet your needs and change and suspend different parts of the policy as your situation changes . 