What is the most important difference between universal life (UL) insurance and whole life (WL) insurance?
◦ With WL the policy would terminate after 30 days if a premium is missed.
◦ With UL the policy would terminate after 30 days if a premium is missed.
◦ With UL the policy owner is responsible for selecting the investments.
◦ With WL the policy owner is responsible for selecting the investments.