Co-Founder, TermInsuranceBrokers.com, Goldenzweig Financial Group, Las Vegas, Nevada
Only individuals who are securities licensed can provide an answer to this question due to regulations surrounding variable products.
I would recommend contacting an agent who is securities licensed to get any needed input regarding variable universal life (VUL) - they can compare it other insurance programs such as whole life and guaranteed universal life.
Principal, LifeNet Insurance Solutions, Redmond, WA
This is an experienced based question and the answer will differ depending upon the agent's practice. Although I have never sold this type of policy because the annual fees are generally so high that the outcome is less than desirable for most people. I have seen many of these policies be disappointing even though the quality of the carrier is very high. My advice is to keep your investments and insurance in separate vehicles.
Life insurance is all about mathematics. A universal life policy sacrifices guarantees to allow the customer flexibility in determining the payment schedule and benefit. These can be altered throughout the lifetime of the policy. My caution to all universal life policyholders, including myself, is to make sure to fund the policy with enough money to keep it in force until you either don’t need it or the death benefit is paid to those that you love.
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I would recommend contacting an agent who is securities licensed to get any needed input regarding variable universal life (VUL) - they can compare it other insurance programs such as whole life and guaranteed universal life.