LIFE INSURANCE

Guaranteed Universal Life

Guaranteed universal life insurance strikes a middle ground between term and whole life. Rather than covering you for a specific time frame like term insurance, a guaranteed universal life policy can stay in force until your life ends. But a GUL policy isn’t a whole life policy either. While many guaranteed universal life insurance policies feature a cash value component, it won’t match the guaranteed cash value growth rate you would find a whole life policy. Guaranteed universal life insurance is meant to be a lower-cost option to provide a lifetime death benefit rather than cash value growth. Premiums typically will be higher than a term policy, but lower than a whole life policy. Like we said, striking the middle ground.