Before signing, insurers provide a "policy illustration" showing how your cash value might grow under different interest rate scenarios.

Source: Estimates based on CNBC Select and Saxon Financial data.

Use calculators on sites like Western & Southern Financial to estimate costs based on your age, health, and coverage amount.

Buying online allows you to compare flexible permanent coverage options from your computer. Unlike fixed whole life policies, UL allows you to adjust premium payments and death benefits over time to match your changing financial needs. 1. Choose Your Universal Life Type