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Which Is Better: Term or Universal Life?

Share current LOB: WealthManagement

Use this calculator to to see what the difference in your payout, cash value, and dividends for a term life policy will be as compared to a universal life policy.

Which is better: term or universal Life?

Universal policy
Policy amount
$
Upfront fees
$
Portion of premiums applied to fees
%
Monthly fees
$
Or
Yearly insurance charge (percent of policy amount)
%
Or
Yearly insurance fee (percent of cash value)
%


Universal policy premiums
Monthly premiumsYears premium paidLump sum premiumsYear
lump sum
due
$$
$$
$$


Universal policy death benefit

Your universal policy's cash value
Average interest you'll earn
%
Years until you claim cash value
Surrender charge
%

Term policy
Policy amount
$
Current premium amount
$
Premium increase/renewal
%
Premium payments per year
Years to remain covered
Policy term (years)

Personal information
Current age
Years until your death
Your savings rate
%
Your state + federal tax rate
%

Information and these calculators are made available by one or more third party service providers. All examples are hypothetical and are for illustrative purposes. SunTrust Bank and its affiliates do not provide legal or tax advice. Information provided and these calculators are not intended to offer any tax, legal, financial or investment advice. SunTrust cannot guarantee that the information provided or the calculators are accurate, complete, or timely. Federal and state laws and regulations are complex and are subject to change. Changes in such laws and regulations may have a material impact on pre- and/or after-tax investment results. SunTrust makes no warranties with regard to these calculators or the results obtained by their use. SunTrust disclaims any liability arising out of your use of, or any tax position taken in reliance on, these calculators. Always consult an attorney or tax professional regarding your specific legal or tax situation.

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