Is Universal Life Insurance Worth It? 
There are several reasons why universal life -LRB- UL -RRB- insurance could be right for you . To make sure , you need to create a financial profile that establishes your risk tolerance and confirms your economic goals . Universal life insurance has four policy types : guaranteed UL for indemnification and three current assumption ULs for income based on crediting options like interest rates , indices and separate subaccount using equities and bonds investments . Guaranteed UL is generally cheaper than participating whole life and the three UL types have saving and/or investing options to accumulate tax deferred cash values and the potential with a TAMRA compliant non modified endowment UL to generate tax free income as long as the policy is kept in force for the life of the insured . 