Universal life insurance (UL) is perhaps the most complex and variable life insurance product available. There is a bewildering array of options for universal life and they vary widely by individual product. As such UL doesn't tend to be directly comparable - to a great extent purchases are made based on features rather than price (which is difficult to compare anyway and is affected by a variety of other product features). Many UL policies offer little in the way of guarantees for their mortality cost component.

Our online UL quote comparison provides a comparison amongst UL products that offer guaranteed level insurance premiums to age 100 as the mortality component within the policy; and quotes just those premiums.

In addition to the mortality costs, Universal Life policies offer an investment component called the 'side fund'. Vary basically, premiums placed in this side fund are invested by the insurer (or linked to an investment vehicle). This investment portion grows in a tax deferred basis and may be subject to other favourable tax treatments.

Due to it's complexity and it's favorable tax treatment Universal Life is typically applied only in high end tax deferral or estate planning situations.