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GUL

GUL Express

 

Guaranteed Universal Life insurance offers competitive lifetime premiums, attractive product features and the ability to dial down to ages 80-105.

Guaranteed Universal Life Express features a simplified application and underwriting process plus flexible, affordable rates and a lifetime guaranteed benefit.

Issue Ages

(Age Last Birthday)

  • 18-80 (all risks)
  • 81-85 Standard NT and Standard T risks only for $100,000+
  • 66-85 Standard NT & Standard T risk only for $50,000 - $99,999
  • 18-65 (tobacco)
  • 18-70 (non-tobacco)
Target Market

Individuals seeking competitive level premiums for lifetime and dial down guarantees for ages 90-120

Individuals seeking guaranteed death benefit protection; Simplified application process; Quick issue

Face Amounts
  • $50,000 - $99,999
    (Table 4 is the only substandard option available)
    (for ages 66-85 Standard NT & Standard T risk only)
  • $100,000 - $249,999
  • $250,000 - $499,999
  • $500,000 - $999,999
  • $1,000,000 plus
    (First Year Premium over $2,000,000 requires home office approval.)
  • $25,000 - $300,000
    (Ages 18-50)
  • $25,000 - $250,000
    (Ages 51-60)
  • $25,000 - $150,000
    (Age 61+)
Underwriting Classes
  • Preferred Plus NT
  • Standard Plus NT
  • Substandard NT
  • Preferred NT
  • Standard NT
  • Substandard T
  • Preferred T
  • Standard T
  • Standard NT
  • Standard T
Table Rates / Table Rate-Up Percentage

Tables 1 (A) to 16 (P) 25% per table; table-rated cases increase the fully commissionable premium.

N/A

Surrender Charges

First 19 policy years

First 19 policy years

Expense Loads

Monthly Policy Fees:

  • $5 policy fee
  • A monthly charge per $1,000 of the specified amount
  • Cost of insurance for current month
  • The monthly rider cost for the current month

Premium Charge:

  • 10% premium charge for all years on each premium payment

Monthly Policy Fees:

  • $5 policy fee
  • A monthly charge per $1,000 of the specified amount
  • Cost of insurance for current month
  • The monthly rider cost for the current month

Premium Charge:

  • 10% premium charge for all years on each premium payment
Riders

(Some restrictions may apply)

  • Guaranteed Refund Option*
  • Accel. Death Benefit for Terminal and Chronic Illness Riders*
  • Waiver of Surrender Charges for Partial Withdrawals Rider*
  • Guaranteed Insurability Rider*
  • Dependent Children's Rider
  • Accidental Death Benefit Rider
  • Association Group Disability Rider
  • Disability Continuation of Planned Premium Rider
  • Disability Waiver of Policy Charges Rider

*Included in the policy

  • Accel. Death Benefit for Terminal and Chronic Illness Riders*
  • Waiver of Surrender Charges for Partial Withdrawals Rider*
  • Guaranteed Insurability Rider*
  • Dependent Children's Rider
  • Accidental Death Benefit Rider
  • Association Group Disability Rider
  • Disability Continuation of Planned Premium Rider
  • Disability Waiver of Policy Charges Rider

*Included in the policy

Guaranteed Interest Rate

2%

3%

Low-Cost Loans

Years 2+:

  • Charge 4.76% in advance
  • Credit 2%
  • $100 minimum loan amount

Years 2+:

  • Charge 5.66% in advance
  • Credit 3%
  • $500 minimum loan amount
Partial Withdrawals
  • $100 handling fee
  • $500 minimum withdrawal
  • $100 handling fee
  • $500 minimum withdrawal
No-Lapse Protection

The guaranteed coverage can be a maximum of lifetime coverage to age 120 or a minimum of age 80 (20 years for ages 61 and above).

The guaranteed coverage can be a maximum of lifetime coverage to age 120 or a minimum of age 80 (20 years for ages 61 and above).

Other Product Features
  • Competitive level premiums for lifetime and dial down guarantees for ages 80-105
  • Ability to 'catch-up' missed premium payments
  • Offers 'dial-a-guarantee' option
  • Simplified underwriting
  • Quick issue process
  • Ability to 'catch-up' missed premium payments
  • Offers 'dial-a-guarantee' option
  • .50% Interest Rate Bonus beginning 10th Policy Year
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