Should I stick with my Variable Universal Life insurance or switch to Term Life for the same price?
My issue is i'm fairly young, and if I don't pass away within 30 years, my family gets nothing. At that time, it will probably be very expensive for me to extend my Term Life policy. With the VUL, at least my family will get something when I pass away after 30 year. From my google searches, most suggestions advise to get the Term Life because it's cheaper.. But in this case, its costing me the same out of pocket(although I am insured more with Term - i guess it is technially cheaper, but I am still dishing out the same amount out of pocket). Seems like one is safer (VUL) and one gives me more return if I die before 60, which hopefully i don't.
Just wanted everyones thoughts as I continue to research the benefits of one insurance plan over the other. Any insight/suggestions would help.
Thanks in advance.