1. 4470 POINTS
    Brandon Roberts
    Owner, The Insurance Pro Blog,
    No universal life insurance is not whole life insurance.  The two products have some very distinct differences. 

    Universal life insurance has no specific premium like whole life insurance, meaning the premium paid can be increased or decreased within a very liberal range at the policy-owners discretion.

    Whole life insurance guarantees that if the calculated premiums are paid in full then the original death benefit will remain in force until the insured reaches the date of maturity--universal life insurance makes no such guarantee.

    Expenses assumed within a whole life policy are fixed at issue and can never change.  Expenses assumed within a universal life policy can be increased or decreased by the insurer as real operating experience allows. 
    Answered on November 3, 2013
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