Guaranteed Universal Life GUL (2022 Ultimate Guide)

Guaranteed Universal Life GUL (2024 Ultimate Guide)

February 02, 202410 min read

Life insurance is one of those things that is difficult to think about when you are retired. Yet occasionally, it’s required.

We also have some exciting news for anyone thinking about purchasing a Guaranteed Universal Life GUL.

The typical human will live to be 77 years old, did you know that?

They will therefore require coverage for at least 25 years, and who knows how long they may live after that? Your loved ones can rest easy knowing that your insurance grows over time so there are no limits to what might occur in the future with a GUL plan from the National General Insurance Company.

The best aspect is that anyone over 18 may apply for this type of policy—not it’s just for seniors!

What Is Guaranteed Universal Life

What is GUL?

You might want to know what a guaranteed universal life insurance policy is if you’re looking for life insurance. It is also known as GUL Insurance.

In actuality, it is among the most affordable permanent life insurance options.

It has a level premium and a guaranteed death benefit, yet it can be flexible if you want it to.

There is no investment component for the insured to invest in, unlike standard universal life.

Hence, it is more like a condensed UL (Read More about this in our Non Guaranteed vs Guaranteed article). I like to compare it to a term life insurance plan where you choose an age rather than a time period.

As an illustration, its level premium and assured death benefit may be available to individuals aged 85, 90, 95, 100, 105, 110, and 121. When you are approaching a specific age, the cost will be higher than a term policy. It is considerably less expensive than full life, nevertheless.

The GUL enables you to obtain larger face amounts for life insurance without incurring the expenses associated with other conventional life insurance plans.

You may be sure that your family will be secured for the rest of their lives with the help of strong carriers like AIG (Safe Lifetime GUL 3), American National (Signature GUL), Principal Financial (UL Protector IV), and Prudential (UL Protector).

How Does Guaranteed Universal Life Insurance Work

Brian Greenberg from True Blue Life Insurance said that GUL Insurance will undergo conventional underwriting “just like any other policy.

There will be alternatives for whole life insurance, whole life insurance with no medical exam, and life insurance with an exam. There isn’t an investing component like there is with typical index universal life.

Thus, you are not bothered about changes in the market.

Your premiums won’t change whether the market is up or down in a poor year. You won’t have to worry about your coverage decreasing or your rate going up because you have a guaranteed death benefit and a level premium.

Also, guaranteed universal life insurance quotes are really inexpensive and reasonable. In actuality, GUL quotes are between 50% and 100% more than term rates and roughly 1/3 as high as whole life prices.

Like term life insurance, the rating is comparable. It will largely depend on your age and health, so if you’re healthy and older, this will be a fantastic alternative for you.

Furthermore keep in mind that you won’t be eligible for a 10-year term again until you are 80 years old. With the GUL, you can obtain coverage up to age 90 or 95 for about the same cost.

Guaranteed Universal Life Insurance For Seniors

When you get older, you begin to have less options overall. You might require a little more than a burial insurance policy, let’s face it. Based on your income, you might still have a mortgage and a spouse.

The best alternative for senior citizens is GUL life insurance. In actuality, when you reach the age of 65, you often live on a fixed income. So, purchasing a whole life insurance policy with over $100,000 in coverage might consume a significant portion of your fixed income.

For this reason, the GUL is a fantastic choice for seniors if you are not concerned about cash value.

In comparison to full life, Guaranteed Universal Life Insurance for seniors over 70 is incredibly affordable. In fact, if you’re willing to take the test, this is the ideal course of action.

For instance, a large number of the carriers we work with include living benefits in the policy. Living benefits will provide you a great deal of peace of mind. Riders that you would often have to pay extra for are integrated into a policy as living benefits.

They are referred to as riders with critical, chronic, and terminal illnesses. This benefit enables you to access the policy face amount in the case of a serious health crisis, such as a stroke or heart attack, without passing away.

If you are determined to be terminal, it also enables you to get an accelerated death benefit.

As a result, the GUL is among the greatest solutions for older customers looking for life insurance.

Also, the GUL policy is among the few insurance options that let you buy life insurance for people over 89.

Best Guaranteed Universal Life For Seniors

For our customers, we at only use the best GUL products. Most importantly, this is crucial for our senior clients who are living on fixed incomes.

For our senior clients, these are our best GUL goods.

  • From age 90 to 121, AIG Safe Lifetime GUL III offers flexibility with living benefits and cash-out features at years 20 and 25.

  • Advantage Life Protection Option The most affordable rates and extensive customization are provided by UL.

  • With its cash-out feature, ANICO Signature Guaranteed UL provides freedom with living benefits.

Make sure to inquire about guaranteed universal life insurance quotes for seniors from your representative.

Best Guaranteed Universal Life Insurance Companies

Working with an independent insurance agent who is familiar with the market and which carriers are the greatest fits for your particular profile is essential when choosing a life insurance policy.

Knowing the various features and which one is best for you is crucial. An impartial agent will be aware of this. Knowing which is appropriate at a particular age is also crucial.

For instance, if you are 45 years old and searching for life insurance, you might prefer a plan with a cashback option and protection against serious disease.

AIG’s unconditional life insurance is guaranteed These attributes come with Secure Lifetime GUL.

Yet, if you are over 70 and on a fixed income, the cost can be the most significant factor. In this instance, GUL under Protected Life Advantage would be the preferred option.

I won’t waste your time by listing the top 20 or 100 guaranteed universal life insurance options. Very simply, the top 5 are all you really need to know. Why make things harder?

The top 10 GUL carriers and items we offer to our customers are listed below.

  1. Advantage Life Protection Option GUL – Excellent for everyone, especially seniors, as the rate is frequently the best.

  2. A great cashback feature and living perks are offered by American National Signature GUL.

  3. Great cashback feature ROP in AIG Safe Lifetime GUL 3

  4. Seniors will love North American Custom Guaranteed because it offers a superb $25,000 up to age 85 alternative to a burial insurance.

  5. A very competitive company, Mutual of Omaha Guaranteed Universal Life, also provides no-medical-express coverage on a case-by-case basis.

  6. With Prudential UL Protector, there are no additional premiums between the ages of 90 and 121 for tobacco users who don’t smoke.

  7. Sagicor NLUL – No test to age 65 and up to $500,000

  8. Excellent product with lenient underwriting for the majority of health conditions: Lincoln Financial LifeGuarntee UL.

  9. If you are in the Super Preferred/Preferred class and in excellent health, Principal Financial UL Protection IV offers up to $1,000,000 without a medical checkup.

  10. For those customers who care about their health, John Hancock offers the Great Vitality programme (UL-G 13). will provide coverage for ages 90 and older.

You can probably see how crucial it is to choose the appropriate agent to represent you. Get in touch with us right now to find the most affordable GUL rates for your family’s protection.

Guaranteed Universal Life Insurance vs Whole Life Insurance

There are two methods you might search for a permanent life insurance coverage. The most expensive type of policy with cash value options is a whole life insurance policy, which you can buy. Alternatively, you can get a guaranteed life insurance policy with fixed death benefits and reduced premiums.

All that matters is if you actually need or want the cash value. Do you anticipate having to draw from it? Do you prefer knowing that you have that choice? No one can predict what will happen tomorrow, so you have a point.

So, the GUL is the best option if your main worry is a guaranteed death benefit and you desire a lesser premium. The cash value of the whole life policy will likely be overshadowed by the amount you can save on premiums.

Would you rather have the choice to borrow money later or have extra money in your pocket right now? Keep in mind that you will be charged interest by the carrier on the borrowed funds. merely some fodder for thought

Guaranteed Universal Life Express

I wanted to talk about the GUL express items that don’t require a medical evaluation. Its name-brand company is Mutual of Omaha GUL Express.

This item provides:

  • Ages 18 to 65, issue range: $25,000 to $99,999

  • ages 18 to 50, issue range: $100,000 to $300,000.

  • Issue ages 51–65, $100,000–$250,000

Given that they provide protection up to age 120, this is an extremely useful product.

They will also provide riders, such as a no-lapse guaranteed accelerated Death Benefit for Terminal and Chronic Disease Rider. Additional passengers are:

  • Disability Remission of Insurance Fees Rider

  • Disability Planned Premium Rider Dependent Children’s Rider to Continue

  • Costs of Surrender for Partial Withdrawal Are Waived Accidental Death Benefit for Riders Rider

Assured Universal Life Express from Mutual of Omaha is without a doubt a great product. Make sure to discuss it with your independent life agent.

No Lapse Guaranteed UL

Let’s delve into this thoroughly. The name has a catchy sound: NO LAPSE GUL.

These policies cost less than conventional universal life insurance premiums. My prediction is that these rates will start to increase.

Compared to whole life plans with cash values, these types of policies have little or no cash value. Also, they have a level premium guarantee until age 121. But you’d better not forget to pay your premium!

You see, the carrier has the right to revoke the no-lapse status if you fail to make a premium payment. Then, there will be a universal life insurance coverage. Keep in mind that a policy cannot offset the yearly increase in insurance premiums if there is no cash value.

If the 5 years no lapse guarantee premium is paid, North American Custom Guarantee universal life offers coverage for 5 years at all ages. This implies that for the first five years, you CANNOT miss a payment. Rates may considerably rise if you don’t meet this stipulation.

Hence, don’t be deceived by the inexpensive price. If you don’t forget to make a payment, it’s an excellent product. Therefore make sure your insurance is reasonably priced.


One of my favourite products to offer my clients is guaranteed universal life insurance. It combines the longevity of a whole life policy with the affordability of a term policy. Thus the GUL is the ideal solution if your main objective is to have a death benefit given to your loved ones in the most economical manner.

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