Is Whole Life Insurance The Same As Universal? 
Think of it as apples and fruit . Universal is a type ofpermanent life insurance . But there are other types of permanent life insurance . Whole life is another type of permanent life insurance . Whole life is a fixed product , whose premium never varies , and whose value increases over time , based on the carrier 's investments in your fixed account . Universal is permanent , and will never end , so long as you continue to pay , unlike term whose premiums will increase after the end of a fixed term . However , with universal , the policy value may go up or may go down , based on whatever it is pegged to reflect . It is possible with universal that you may have to put more money in that expected , if the market were to take a serious hit . This would not happen with whole life . A way to avoid this is to buy indexed universal life . It allows the policy to grow with the market , but at a somewhat lower rate , but it prevents the policy to lose money when the market goes down , as it locks in the balance annually . Over time , this actually can give you a better return than a standard universal , even in an overall good market , not just a bad one . Talk to your agent . Thank you . GARY LANE . 