What Is Guaranteed Universal Life Insurance (GUL)?
Guaranteed Universal Life insurance, also known as GUL, is a life insurance policy that combines the best qualities of both Whole and Term life insurance policies. Like Whole Life, this policy offers coverage for life. Similar to Term Life, this policy has lower premiums.
Unlike other insurance policies, however, GUL does not have an investment component, therefore is considered to be low risk.
How Does a Guaranteed Universal Life Insurance (GUL) Work?
GUL has become a popular option for economically-minded customers. Like Term Life, you can select the duration and benefit amount of your policy. With GUL, you get guaranteed insurance until a specific age rather than a set number of years.
What Are The Benefits of a GUL policy?
- This plan offers more affordable premiums than Whole Life while also offering coverage for life.
- Having a tax-deferred death benefit could make the death of a loved one less financially draining.
Are You Interested In Pursuing a Guaranteed Universal Life Policy?
If you’re interested in learning more about Guaranteed Universal Life (GUL), feel free to contact me. Our goal will be to achieve peace of mind while finding together with the ideal solution for your budget.