deaner@dicomed.UUCP (Dave Deaner) (10/01/84)
Watch out!!! Universal life is a very complicated beast(I know I'm a lic- ensed insurance agent). What Universal life is trying to address is the concept of "buy term and invest the difference". Term insurance provides the maximum coverage for the minimum cost. What can be done is to cash-in whole life and invest the cash value into a high yield savings vehicle, then compare the annual cost of the whole life to that of term and invest the difference in premium into the same savings as an IRA. A good book to read is "HOW YOUR LIFE IN- SURANCE POLICIES ROB YOU" by Arther Milton (1981). This book explains in depth Universal life and its short comings. By the way Mr. Milton was a whole life agent extrodinaire and voted man of the year 5 years in a row until he wrote that book.