When a person reaches the age of 45, term insurance might cost $50 per month, whereas universal life insurance would still cost $100 per month. However, less of that amount would go into the cash savings component, and more of it would be used to make up for increased risk.

Special Considerations For the average person looking to protect themselves and their loved ones from unforeseen circumstances, term life insurance is the best option. That is especially true for young families that are on a tight budget, in part because they can purchase a much larger term policy for the same amount of money.

https://youtu.be/Zu0_lNaFTgw