What is a Guaranteed Universal Life Insurance Policy?
It’s a form of permanent life insurance. Permanent insurance is designed to last throughout your entire lifetime, no matter how old you live to be.
With guaranteed universal plans, your premiums are set at one rate for the duration of your life, or a limited payment period.
Is Universal Life Insurance Guaranteed?
Not always. GUL assures that your rates will not change, despite changes in the market. Without GUL, premiums might change if there is a major change in the market.
What is the Difference Between Whole Life Insurance and Universal Life?
The key difference between the two policy types is that GUL insurance allows flexible premiums. In many cases, this is due to a reduced cash value when compared to whole life policies.
Learn more about guaranteed universal life insurance plans.
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