Universal life insurance, while offering flexibility and potential for cash value growth, comes with several drawbacks that individuals should consider before purchasing. The main disadvantages of universal life insurance include the potential for increasing premiums, complex policy structures, and the risk of policy lapse if the cash value is insufficient to cover the costs. Additionally, the investment component of universal life insurance may not perform as expected, leading to lower returns than anticipated. Furthermore, surrender charges and fees associated with universal life insurance policies can significantly impact the overall returns. It's important for individuals considering universal life insurance to carefully weigh these drawbacks against the potential benefits to determine if it aligns with their long-term financial goals and needs.