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The purpose of having life insurance in your financial plan is not only to protect your most valuable asset, which is your ability to go to work every day, but can also be a tool that can help increase your retirement income.However, most people forget about that second part.Related: How to Protect Your Most Important Asset In part four of his life insurance mini-series, John Smallwood explains how universal life insurance (UL) can function as more than just a protection policy. To help you better understand this type of insurance, John shares his deep knowledge by explaining the cost of premiums, how UL differs from whole and term insurance, and most importantly—how to determine which policy is suitable for you.