I remember when I was a younger buck and first living on my own, eating Ramen noodles and baked potatoes for the majority of my meals because they were so cheap. If I needed an appliance or anything else, I usually bought the cheapest I could find. Some of the things I bought broke quickly and had to be replaced soon. I learned early on that the cheapest things are not always the best value.
The same thing applies to life insurance. I did a previous post about why the cheapest term insurance is not always the best, but this is also the case with the best guaranteed universal life insurance policies or other permanent life insurance.