Are you looking for instant guaranteed universal life insurance quotes without having to speak to an agent first? Great news, our quote engine software allows you to see the instant no-lapse guarantee universal life insurance (GUL) rates from the nation’s top life insurance companies after you enter your birthday and select your health class. Some of the life insurance instant rates for GUL include AIG, Pacific Life, Protective Life, PennMutual, Nationwide and more.
Table of contents
How Does Guaranteed Universal Life (GUL) Insurance Work?
A guarantee universal life insurance policy (GUL), also known as no-lapse guarantee universal life insurance works and is often viewed as a term life insurance policy where the term lasts the rest of the purchasers’ life. The difference is that unlike term life insurance where you can choose between a 10 to 35 year term (depending on age), with a GUL policy you set the age when the policy expires.
The options for most companies start at age 90 and go up to age 121 years old. Since you do not want to outlive the term on the GUL policy, it is important to choose an age that you will not outlive. Depending on your family history of longevity and your lifestyle, many people choose to age 100, 105, 110 or age 121. As long as you make your premiums on time, the policy will remain inforce and your premium and death benefit are fixed for the rest of your life regardless of your age or health.
A guarantee universal life insurance policy (GUL), also known as no-lapse guarantee universal life insurance works and is often viewed as a term life insurance policy where the term lasts the rest of the purchasers’ life.
How To Get Instant Guarantee Universal Life Insurance Quotes (No-Lapse GUL)
- Use Our Quote Engine
Click here to use our quoter which is a database of the rates and instantly shows the quotes from nation’s top life insurance companies.
- Answer Several Questions In Order For The Software to Return An Accurate Quote
The quoter will ask for your state, D.O.B., Gender, Tobacco Use, Health Class.
- Select The Duration (Type of Insurance) & Amount of Coverage
For Guarantee Universal Life Insurance (GUL), you want to select how long to lock in the rate for. You can choose To Age 90 Level, To Age 95 Level, To Age 100 Level, To Age 105 Level, To Age 110 Level and To Age 121 Level (No Lapse U/L).
- After The Quote Results, You Can Modify The Amount of Insurance and Type of Insurance
To see the rates for a different amount of insurance or a different age duration, simply change it at the top of the quote results under Amount of Insurance and Type of Insurance and hit recalculate.
Choose: To Age 90 Level, To Age 95 Level, To Age 100 Level, To Age 105 Level, To Age 110 Level or To Age 121 Level (No Lapse U/L).
Take Advantage of No-Lapse Guarantee Universal Life Insurance While It is Still Available
With the prolonged low interest rate environment, many large life insurance companies have exited the guaranteed universal life insurance market. One of the most impactful was Prudential. In fact, Prudential’s guaranteed universal life product was the second best-selling life insurance product for the first quarter of 2020. Another large insurer to recently discontinue their guaranteed universal life insurance product was Symetra. Symetra announced in December 2020, they had to discontinue their GUL product due to the low interest rate environment. Other insurers such as ING and TIAA-CREF have exited the consumer life insurance market entirely for the same reason.
Who Are The Best No-Lapse Guarantee Universal Life Companies (GUL) 2021?
Guarantee Universal Life Insurance (GUL) FAQ
GUL policies typically have little to no cash value. A GUL policy works like a term policy but lasts the rest of your life.
Yes, they are the the same product also known by the acronym GUL. You set the age when the policy expires. As long as you pay your premiums on time, the premium and coverage amount do not change for your lifetime and the policy is guaranteed to pay out.
The GUL policy is ideal for anyone looking for permanent life insurance at the lowest price. Purchasers of the GUL policy typically include those in good to moderately good health looking for final expense insurance, estate planning insurance to cover taxes, have a special needs child, want to leave an inheritance (legacy), donate money to charity when they pass away or want to guarantee that they will leave money to a spouse or child/children when you pass away, regardless of your age.
It depends on your needs and goals. GUL is ideal for anyone that wants lifelong protection at a price significantly lower than whole life insurance. GUL is more expensive than term life insurance since the policy is guaranteed to payout but is much less expensive than whole life insurance since it does not have a cash value. GUL is ideal for those looking for lifelong protection at a fixed rate and can invest the difference of the much more expensive cash value whole life policy on their own and does not want the bells and whistles of the investment component.