Whole vs UL

Use of Whole Life and Universal Life:

Donation/Charities,

Business Transfer,

Diversification,

Burial,

Tax-deferred and Tax-free,

Estate Planning,

Key Employee,

Account Receivable Loan,

Divorce Mandate,

Emergency Fund,
Education funds,

etc.

See http://www.investopedia.com/articles/pf/07/whole_universal.asp