Do not buy universal and variable life insurance
The sole aim of life insurance is for replacing the income of someone who has died prematurely. This type of life insurance policy is twofold. Firstly, term life insurance. Term life premiums only pay for insurance. Secondly, universal and variable of life insurance. For a universal policy, only part of the premiums to pay for insurance. The rest to various investments, costs, and expenses.
Your premiums will give you peace of mind and your family will feel comfortable with finances if you die. In my opinion, it is the best way to replace lost revenue. If you die someday, the insurance company will pay a sum of money wherewith you are insured to your family. In general, products and variable universal life policy insurance will offer limited investment options.
However, policies and variable universal life insurance surrender penalties will usually bring. Often, people realize too late that they do not have to buy a variable life insurance policy because they do not want to pay a penalty to dispose of it but they’ve stuck with it for years. A better strategy is to avoid the universal and variable insurance, buy term life insurance and use your money. That way, your life insurance costs will be much lower.