1. The policy can last for your lifetime.
2. A GUL can be set so that the premium and face amount remain the same for your lifetime.
3. Underwriting is usually less stringent than for term policies.
1. Universal policies are more expensive than term coverage.
2. If you are young with a family, this may not be the right product for you because you can buy much more term coverage while your children and your estate are growing.