There is no easy answer when it comes to deciding between whole life and universal life insurance policies. The best choice for you will ultimately depend on a variety of factors, including your age, health, lifestyle, and financial goals.
That said, whole life insurance policies tend to be more expensive than universal life insurance policies. This is because whole life insurance policies offer guaranteed death benefits and cash value growth, while universal life insurance policies do not.
Additionally, whole life insurance policies typically have higher premiums than universal life insurance policies. This is because the insurer is bearing more risk with a whole life policy.
So, if you're looking for a more affordable option, universal life insurance might be the way to go. On the other hand, if you're looking for a policy that will guarantee your death benefit and offer cash value growth, whole life insurance might be the better choice.
ultimately, the best way to decide between whole life and universal life insurance is to speak with a financial advisor or insurance agent. They can help you assess your needs and find the policy that's right for you.