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Premium Highlights

What is Guaranteed Universal Life Insurance?

Key Features of Guaranteed Universal Life Insurance

Life Insurance Needs Calculator

How Guaranteed Universal Life Insurance Works: Real Life Scenario

Keys To Remember

Premium Highlights November 2019

What is Guaranteed Universal Life Insurance?

With a Guaranteed Universal Life insurance policy you are able to leverage the long term benefits of permanent coverage,  for a cost less than that of a Whole Life insurance policy. The cost is less because GUL's do not have a Cash Accumulation component, so you do not have the ability to borrow against the policy, which for some insureds, is not a desire or need. 


It includes flexible term options that allow you to choose the age you want to end coverage. Rates stay the same throughout the term you choose and your policy will never cancel as long as you continue to pay your premiums. You also have additional coverages known as Riders included with most policies, with options to add additional coverages to pack on extra protection. Get in contact with one of our life agents to find out how a Guaranteed Universal life policy can benefit your unique situation.



key features of guaranteed Universal life

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Policy in Action: Sample Case Studies

Case Study: Mark Wants Permanent Coverage, But Doesn't Have the Budget for Whole Life Insurance

Mark is a 38 year old middle class construction worker who supports his three children. He currently has no life insurance but wants to put a plan in place to assure his children will be provided for in the event of an untimely passing. Although Mark generates decent income, the premium for the amount of permanent protection he needs from a Whole Life policy will be difficult for him to consistently pay each month. The older Mark becomes the more expensive insurance becomes for him. He knows he has to get coverage now but doesn't know exactly how he's going to afford it.


Problem: Mark needs permanent life insurance coverage but can't comfortably afford coverage in the form of a Whole Life insurance policy. He can't put the purchase off any longer as he is afraid that if something were to happen to him prematurely, his children will suffer financial hardship, since he is the primary wage earner for them. 


Suggested Solution: Instead of purchasing a Whole Life policy he cannot comfortably afford, and running the risk of having to cancel it and re-qualify for coverage at a later date, Mark can purchase a Guaranteed Universal Life insurance policy. He will lose the cash accumulation of a Whole Life policy, but retain the permanency he desires, along with some great Living Benefits to add additional value and protection to his policy. Because Mark is not concerned with borrowing money from his policy, a benefit of the cash accumulation built into Whole Life policies, he can now purchase permanent insurance coverage, at a rate he can comfortably afford, giving him the peace of mind of having adequate financial protection in place for his children in the event of an untimely demise.


What to Remember About Guaranteed Universal Life Insurance

A Guaranteed Universal Life Insurance policy is used for insureds who need permanent coverage, but can't comfortably afford a Whole Life policy. It's also for those who can comfortably afford a Whole Life policy, but don't necessarily need the built in Cash Accumulation component of a Whole Life policy that adds to the cost of a Whole Life policy.

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