--- title: Universal Life vs. Whole Life Insurance - What's the difference? description: Compare universal and whole life insurance policies for lifelong coverage. Understand premiums, cash value, and death benefit differences. image: https://blog.concklin.com/hubfs/Imported_Blog_Media/grandfather-and-grandson-watching-old-photographie-2022-12-16-22-34-20-utc.jpg --- [Skip to content](https://blog.concklin.com/blog/universal-life-vs-whole-life-whats-the-difference.html#main-content) [facebook-f icon](https://www.facebook.com/ConcklinInsurance) [linkedin-in icon](https://www.linkedin.com/company/concklin-insurance-agency) [Twitter icon](https://twitter.com/ConcklinA) [youtube icon](https://www.youtube.com/channel/UC_HnJQ4S_USSxBJkauXwu6A) [**Contact Our Team **](https://insurance.concklin.com/compare-quotes#CLQuoteRequest) **[630-268-1600](tel:+16302681600)** **[Contact Our Team](https://insurance.concklin.com/compare-quotes#CLQuoteRequest)** ****[630-268-1600](tel:+16302681600)**** [![Concklin Logo-1](https://blog.concklin.com/hs-fs/hubfs/Concklin%20Logo-1.png?width=314&height=100&name=Concklin%20Logo-1.png)](https://insurance.concklin.com/) - About Us Show submenu for About Us - [Our Story](https://insurance.concklin.com/about-us-who-we-are) - [Our Team](https://insurance.concklin.com/meet-our-team) - [Contact Us](https://insurance.concklin.com/contact-us) - [Markets & Industries](https://insurance.concklin.com/industry-specific-insurance-programs) - [Business Insurance](https://insurance.concklin.com/business-insurance-coverage) - [Personal Insurance](https://insurance.concklin.com/personal-lines-insurance-coverage) - Life & Health Insurance Show submenu for Life & Health Insurance - [Life Insurance](https://insurance.concklin.com/life-insurance) - [Health Insurance](https://insurance.concklin.com/health-insurance) - Resources Show submenu for Resources - [Claims Resources](https://insurance.concklin.com/claims-resources) - [Cyber Resources](https://insurance.concklin.com/cyber-insurance-resources) - [Blog](https://blog.concklin.com/) - [Video Library](https://blog.concklin.com/video-library) - [Client Portal](https://insurance.concklin.com/client-portal) - [Make A Payment](https://concklin.appliedpay.com/) Open main navigation Close main navigation - About Us Show submenu for About Us - [Our Story](https://insurance.concklin.com/about-us-who-we-are) - [Our Team](https://insurance.concklin.com/meet-our-team) - [Contact Us](https://insurance.concklin.com/contact-us) - [Markets & Industries](https://insurance.concklin.com/industry-specific-insurance-programs) - [Business Insurance](https://insurance.concklin.com/business-insurance-coverage) - [Personal Insurance](https://insurance.concklin.com/personal-lines-insurance-coverage) - Life & Health Insurance Show submenu for Life & Health Insurance - [Life Insurance](https://insurance.concklin.com/life-insurance) - [Health Insurance](https://insurance.concklin.com/health-insurance) - Resources Show submenu for Resources - [Claims Resources](https://insurance.concklin.com/claims-resources) - [Cyber Resources](https://insurance.concklin.com/cyber-insurance-resources) - [Blog](https://blog.concklin.com/) - [Video Library](https://blog.concklin.com/video-library) - [Client Portal](https://insurance.concklin.com/client-portal) - [Make A Payment](https://concklin.appliedpay.com/) --- Jan 31, 2023, 12:00:00 AM # Universal Life vs. Whole Life Insurance - What's the difference? ![Picture of Amanda Yaniz](https://blog.concklin.com/hs-fs/hubfs/Amanda%20Yaniz.jpeg?width=50&name=Amanda%20Yaniz.jpeg) [Amanda Yaniz](https://blog.concklin.com/author/amanda-yaniz) Share: [facebook-f icon](http://www.facebook.com/share.php?u=https://blog.concklin.com/blog/universal-life-vs-whole-life-whats-the-difference.html) [linkedin-in icon](http://www.linkedin.com/shareArticle?mini=true&url=https://blog.concklin.com/blog/universal-life-vs-whole-life-whats-the-difference.html) [Twitter icon](https://twitter.com/intent/tweet?url=https://blog.concklin.com/blog/universal-life-vs-whole-life-whats-the-difference.html) [envelope icon](mailto:?body=https://blog.concklin.com/blog/universal-life-vs-whole-life-whats-the-difference.html) Universal Life vs. Whole Life Insurance - What's the difference? 2:11 Universal life insurance and whole life insurance are both types of permanent life insurance, which means that they provide coverage for the entirety of the policyholder's life. However, there are some key differences between the two types of insurance. One key difference between universal and whole life insurance is the way premiums are structured. With whole life insurance, the policyholder is required to pay fixed premiums for the duration of the policy. These premiums are typically higher than those for term life insurance, but they remain the same throughout the life of the policy. With universal life insurance, the policyholder has more flexibility in terms of premium payments. The policyholder can choose to pay more or less than the required amount, as long as the policy's cash value is sufficient to cover the cost of insurance. Another difference between universal and whole life insurance is the way the policies accumulate cash value. Both types of insurance allow policyholders to accumulate cash value through premiums and interest, but the way the cash value is used can differ. With whole life insurance, the cash value is typically used to offset the cost of the policy, which can help to keep premiums stable over time. With universal life insurance, the policyholder has more control over the use of the cash value and can choose to use it for loans, withdrawals, or to pay premiums. A third difference between universal and whole life insurance is the way the death benefit is structured. With whole life insurance, the death benefit is typically fixed and does not change over time. With universal life insurance, the policyholder has the option to adjust the death benefit as their needs change, as long as the policy's cash value is sufficient to cover the cost of the increased coverage. If you are considering a purchasing a universal or whole life insurance policy, you should carefully consider these differences and choose the type of insurance that best meets your needs and goals. Concklin Insurance Agency is here to assist you in finding the policy that best fits your unique situation.   [Life Insurance](https://blog.concklin.com/tag/life-insurance) ## Related posts [![White casket with flowers being carried by men in suits](https://blog.concklin.com/hs-fs/hubfs/Imported_Blog_Media/funeral.jpg?height=200&name=funeral.jpg)](https://blog.concklin.com/blog/life-insurance-a-selfless-gift-to-those-left-behind.html) [Life Insurance](https://blog.concklin.com/tag/life-insurance) ## [Life Insurance: A Selfless Gift to Those Left Behind](https://blog.concklin.com/blog/life-insurance-a-selfless-gift-to-those-left-behind.html) ![Picture of Amanda Yaniz](https://blog.concklin.com/hs-fs/hubfs/Amanda%20Yaniz.jpeg?width=50&name=Amanda%20Yaniz.jpeg) [Amanda Yaniz](https://blog.concklin.com/author/amanda-yaniz) Dec 28, 2017, 12:00:00 AM Life can be complicated. The older we get, the more complex it can become: more assets, more... 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