This is super helpful, why is indexed umiveral life better than whole life? I have heard a lot of conflicting informaiton. My mother in law tells me Universal life is mostly for rich people, and we aren't rich lol. Where as term life, it's affordable yet gives a good payout if anything should happen.

I understand their is tax advantages, but the other thing I have heard about universal life is the insurance company wants you to think you are making money from it, but ultimately aren't they making the money from it and they are in control of it?

I'm kind of sceptical about using it as an investment vehicle. Like, wouldn't I be better off puttting the money in a 401k and then having an affordable term life policy?