As a result, universal life insurance premiums are typically lower during durations of high interest rates than whole life insurance coverage premiums, often for the same quantity of protection. Another essential difference would be how the interest is paid. While the interest paid on universal life insurance is often adjusted monthly, interest on an entire life insurance coverage policy is typically adjusted each year. This could imply that during durations of rising interest rates, universal life insurance coverage policy holders may see their cash worths increase at a rapid rate compared to those in whole life insurance policies. Some people might choose the set death benefit, level premiums, and the potential for growth of an entire life policy.Although whole and universal life policies have their own unique functions and benefits, they both focus on supplying your liked ones with the money they'll require when you pass away. By dealing with a qualified life insurance coverage representative or company representative, you'll have the ability to select the policy that best fulfills your specific needs, budget plan, and financial goals. You can likewise get atotally free online term life quote now. * Provided necessary premium payments are timely made. ** Boosts might undergo additional underwriting. WEB.1468 (What is cobra insurance). 05.15.