re: Whole Life Insurance Lapse Rate

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What are your objections to UL policies?

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Where to start. Their lack of guarantees. Historically, their performance is far worse than traditional whole life. You mentioned being able to reduce/raise premiums. What they don't tell you, is if you lower the premium, you put the policy in risk of breaking its secondary guarantees. At that point, the insurance company reserves the right to use your cash value to pay the eventual premium increases until it eats the policy alive.

I'll put it this way, I've never seen a UL actually go to maturity, and they always blow up on people. I think they are a terribly designed product that can only work well if interest rates are very high