Today, people have all types of protection. They insure their house, cars, phones, and appliances.
Uls maybe a useful tool in implementing some tax and or estate strategies, may allow for changes to the death benefit, and may allow some flexibility in the timing of premium payments.
ULs also tend to be more transparent, in that the different fees are the COI are broken out.
No matter what you call it, all insurance has one thing in common. You have to pay for the COI inside the policy, which is the cost of term insurance.