Is UL cheaper than whole life?

Initially yes, but COI rises while whole life stays level.

Should I buy UL or term?

Pure protection: term. Estate liquidity / tax-deferred growth: UL/IUL.

Universal Life Cost of Insurance 2027 Calculator

Universal Life cost of insurance (COI) 2027: monthly charge for pure death benefit, increases each year as you age. Standard mortality table (2017 CSO) governs. Plus admin charge $5-15/month + premium load 4-7% + surrender charge years 1-15. COI often 70-90% of total premium in early years.

Age

Death benefit ($)

Health class

COI Structure

Monthly charge for pure death benefit. Tied to 2017 CSO Mortality Table. Each policy year, age increases = COI rises. Compounds dramatically past age 55.

All-In UL Cost

COI + admin charge ($5-15/mo) + premium load (4-7% of premium) + surrender charge years 1-15. Plus M&E (mortality & expense) on variable UL. 'Free look' period typically 10-30 days.

Term vs UL Decision

Pure protection: term cheaper. Estate liquidity: permanent life (UL/Whole Life). 'Buy term + invest difference' standard wisdom for most retail.

Source and Disclaimer

2017 CSO Mortality Table, NAIC Model Reg 580. Actual COI varies by insurer — verify illustration matches 2017 CSO basis.

Source: NAIC Model Reg 580, 2017 CSO Table. Last updated: May 2026.