Guaranteed Universal Life

Guaranteed universal life (GUL) could be looked at as a combination of term life insurance and whole life insurance. A GUL can provide lifetime coverage at the more affordable pricing than a whole life insurance policy. This product may be ideal for individuals who want lifelong death benefit protection, but don’t need the fancy extras other permanent products offer, such as cash value.

Features of guaranteed universal life policies:

  • Affordable lifelong coverage;
  • Policies have guaranteed death benefit amounts
  • Option to decrease your death benefit if needs change;
  • Potential return of premium