Universal life insurance differs from term life insurance in that it not only provides life insurance coverage but also includes a savings component in the policy. 

    Similar to RRSPs, a universal life policy allows you to earn interest on your savings tax-deferred, potentially resulting in higher returns compared to traditional savings options. 

    This type of insurance is more flexible and tailored to the client's needs. 

    You can choose the amount of your investment, the type of costs for your coverage, and even take a break from paying premiums if your plan allows. 

    Universal life insurance is ideal for those seeking a permanent and flexible insurance plan.