danerlavigne
Expert
If you and your wife are over the age of 50, I wouldn't consider any type of universal life other than guaranteed universal life. If you have a plan to continue to build your investments and stay out of debt. You may be fine with another 10, 15, or 20 year term policy. I have been in the life insurance business for 7 years. I am only 25, and if my parents died, even if they had that much invested and their home was worth that much, it would be a huge help to have a life insurance benefit that would be payable immediately and not get caught up in probate while I was waiting on their estate to be settled.