 since the 1980s. The bad news is many of them are still buying crappy cash value type plans. I don't care what you call them. O-Live, Universal, Variable, Justible, Flexible, nothing but a waste of your money. Don't be confused and let someone sell you a plan that sounds better than it really is. Look, term life is the only way to go. Rates are back to all-time lows and the process to apply is easier than ever with many companies no longer requiring exams.