The one thing overlooked here is that in the event that your aunt had an unforseen disability would the Universal life policy provide protection from being included in the calculation for medicare, medicaid benefits. If it does it might have some merit.
While she is in good shape and good health I would start by setting up a Revocable Living trust. Believe there is a 5 year look back period for assets. Consider a POA or medical POA(not certain this is the term)
As for Universal LIfe or any other product they can be both positive and negative depending upon their intended purpose. I would think that there is a lot more legwork for any rep to do before getting into this type of product.
But based on the fact that she has a good nest egg stashed away, is in good health, maybe the rep is thinking she can qualify for a premier policy rate and could shelter this portion of her assests while at the same time receiving a safe return that is higher than a taxable cd.
