Which is better: term or universal Life? Universal policy Policy amount $ Upfront fees $ Portion of premiums applied to fees % Monthly fees $ Or Yearly insurance charge (percent of policy amount) % Or Yearly insurance fee (percent of cash value) % Universal policy premiums Monthly premiums Years premium paid Lump sum premiums Year lump sum due $ $ $ $ $ $ Universal policy death benefit Receive policy amount only Receive the cash value also Your universal policy's cash value Average interest you'll earn % Years until you claim cash value Surrender charge % Term policy Policy amount $ Current premium amount $ Premium increase/renewal % Premium payments per year Years to remain covered Policy term (years) Personal information Current age Years until your death Your savings rate % Your state + federal tax rate %