Why Do I Need Universal Life Insurance? 
You may not need Universal Life Insurance . If you have a temporary need and want a large policy for the lowest possible price , Term Life Insurance would probably work best . If you want a small final expense policy , Whole Life is easiest to get , and comes in the smallest face amounts . Where you may choose Universal Life is if you want a low cost permanent product of a substantial face amount but with little to no cash value -LRB- GUL -RRB- , or if you want to use your life insurance as a type of investment along with death benefit -LRB- VUL or IUL -RRB- . 