Who Is Universal Life Insurance For? 
Universal Life insurance works well for people who want lifelong coverage at the lowest possible price . GUL -LRB- Guaranteed Universal Life -RRB- can be guaranteed not to lapse to age 120 + at a level premium . Because GUL has very low cash value , the premium can be kept relatively low for permanent coverage . Indexed Universal Life is a good product for those who want a safe way to save up money for retirement income . Unlike GUL , IUL is used to create large amounts of cash value that can be borrowed tax deferred during retirement . So Universal Life really can work for almost anyone . It is flexible and can be adapted for a lifetime . 