what is index universal life insurance

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Guaranteed universal life insurance (GUL) is also called no-lapse guaranteed universal life insurance, this type of policy offers a guaranteed death benefit and premiums that stay the same for the policy's life. Though often included under the permanent life insurance umbrella, GUL policies usually have an end date selected at the purchase time. Policyholders typically choose an advanced age – 95, 102, etc. – and the policy will remain active until that point. Unlike other permanent life policies, a GUL policy may have little or no cash value.


If you are looking for a policy that offers lifelong coverage and a life-long insurance policy, universal life insurance might be the right fit. Universal life insurance provides a guaranteed death benefit. This allows you access to the policy's cash value.

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A UL policy offers insured persons many of same permanent benefits and protections as whole-life coverage. It also has the added benefit that a flexible premium can be adjusted to accommodate variable earnings. You may be able, depending on the policy and life insurance company, to invest your cash value into various market-based investment options. This will allow you to grow more. Universal life however offers less cash value guarantees, or lower ones.

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a universal life insurance policy is best described as a/an

a universal life insurance policy is best described as a/an


If you're considering a universal insurance policy, be aware of the risks involved. Do not fall for the promises of big investment returns. It is important to look beyond the projections and see the actual policy illustration.

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Universal life insurance can be described as a permanent type of insurance. A universal life policy covers the insured for their entire life, provided they pay their premiums and comply with any other conditions. Universal life insurance, like many permanent policies, combines a savings component ("cash value"") and lifelong protection. The policy's death benefit will be paid to your beneficiaries upon death.

surrender universal life insurance policy

surrender universal life insurance policy


In other words, the cash value component earns an interest rate based on either a money rate of interest, or for certain universal policies, a rate linked with a market indicator. You can increase your cash value by making any changes that will make it easier to pay your premium. You can reduce your monthly payments if your financial situation has changed.

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Think about the level of risk that you are willing or able to accept when considering universal life insurance policies. Don't fall for promises of substantial investment gains that might not materialize. Don't just focus on the projections, but also the guaranteed parts of the policy illustration.

does universal life insurance have cash value