We all know the two main types of life insurance – term and permanent life insurance. Back in the day, there were only a select few options when it came to permanent coverage (which were pretty pricey compared to term), so it made people quite skeptical of purchasing a permanent policy…until now.

Ladies and gentlemen…meet Guaranteed Universal Life Insurance (a.k.a. the best of both worlds).

Yes, it sounds similar to a type of permanent coverage called Universal Life Insurance, but they are indeed different.

This article will discuss the best companies to purchase a guaranteed universal life insurance policy from, while also including sample quotes.

Quick Article Guide:

1. What is Guaranteed Universal Life Insurance?
2. Guaranteed Universal Life Sample Quotes
3. Prudential Financial
4. Protective Life
5. AIG
6. Principal Financial Group
7. Penn Mutual
8. Lincoln Financial Group
9. United of Omaha
10. North American Company
11. Nationwide
12. Sagicor
13. Symetra
14. Questions? We Can Help!

What is Guaranteed Universal Life Insurance?

So what is this “guaranteed universal life” that we’re raving about? It’s essentially a mix between term life insurance and permanent life insurance.

Also known as GUL, No Lapse, or Secondary Guarantee Universal life insurance, this type of policy is like term life insurance in the sense that it is for a period of time, but instead of being covered for a certain number of years, you are covered until a certain age. You can choose what age you’d like to be covered until – age 90, 95, 100, even 121!

Since the life expectancy in the United States is 77-years-old for men, and 81-years-old for women, purchasing a policy until one of the above ages is pretty much guaranteeing a permanent policy (meaning you’ll still be covered when you pass away).

So why should you choose this type of policy? With a GUL policy, you get premiums that resemble term life prices more, but won’t have to worry about reapplying for coverage and retaking a medical exam when the term policy ends.

Guaranteed universal life policies also focus on the Death Benefit, rather than accumulating cash value (which is risky business anyways, if we’re being honest). This type of policy is also much easier to understand than other types of permanent policies. Just remember that not all policies are created equal, and to speak with your independent agent to ensure you understand everything that your specific policy entails.

So without further ado, let’s show some sample quotes, shall we?

Guaranteed Universal Life Sample Quotes

These are some sample monthly GUL rates up until age 100 for men and women in “preferred” health. They have been taken from multiple “A+” life insurance carriers.

Sample Guaranteed Universal Life Rates for Men

Age	$100,000	$250,000	$500,000	$1,000,000
40	$63.65	$143.58	$249.10	$476.46
45	$75.08	$172.54	$300.72	$579.70
50	$97.10	$214.61	$380.20	$726.92
55	$117.64	$271.21	$500.70	$952.40
60	$145.27	$338.50	$677.00	$1,305.86
65	$189.47	$445.65	$891.30	$1,720.15
70	$265.37	$599.03	$1,198.06	$2,340.03

Sample Guaranteed Universal Life Rates for Women

Age	$100,000	$250,000	$500,000	$1,000,000
40	$53.11	$117.62	$204.40	$393.50
45	$62.83	$114.20	$242.14	$472.64
50	$80.20	$179.95	$320.00	$634.52
55	$97.58	$220.64	$432.32	$819.18
60	$128.95	$281.20	$562.39	$1,055.50
65	$163.51	$370.34	$736.52	$1,427.81
70	$216.95	$523.77	$1,024.00	$1,906.00

*Rates are accurate as of 5/16/2018 and are provided for illustrative purposes only.

Prudential Financial

Financial Ratings: A.M. Best (A+), S&P (AA-), Moody’s (A1), Fitch (AA-), Comdex (92/100)

Policy Name: PruLife Universal Protector

Rate Classes: Preferred Best, Preferred, Standard Plus, Standard; Non-Tobacco and Tobacco

Coverage Lengths: Age 100, 121

Min Coverage Amount: $50,000

Max Coverage Amount: Over $10,000,000

Issue Age Range: 0-85

Optional Policy Riders: BenefitAccess, Living Needs Benefit, Accidental Death Benefit, Children Level Term, and Enhanced Disability Benefit Rider

Perk of This Policy: Prudential allows more flexibility within the first year of your policy in relation to premiums – as long as they are paid (no matter the frequency), your No-Lapse Guarantee period will not be reduced.

Note: If you’d like to learn more about riders, check out our JRC Guide to Life Insurance Riders.

Protective Life

Financial Ratings: A.M. Best (A+), S&P (AA-), Moody’s (A1), Fitch (A+), Comdex (92/100)

Policy Name: Custom Choice UL

Rate Classes: Select Preferred, Preferred, Standard; Non-Tobacco and Tobacco

Coverage Lengths: Age 90, 95, 100, 105, 110, 121

Min Coverage Amount: $100,000

Max Coverage Amount: Over $10,000,000

Issue Age Range: 18-85

Optional Policy Riders: Terminal Illness/Accelerated Death Benefit, Accidental Death Benefit, Children’s Term Insurance, Disability Benefit, and ExtendCare Rider

Perk of This Policy: This policy comes with a no-cost Income Provider option, in which you have the option to select a guaranteed monthly or annual income stream of up to 30 years for your death benefit payout rather than one lump sum. You can also opt to receive an initial lump sum payment to help cover final expenses or immediate death obligations. If you choose to add this to your policy, it has the potential to lower your premiums.

American General Life Insurance Company (AIG)

Financial Ratings: A.M. Best (A), S&P (A+), Moody’s (A2), Fitch (A+), Comdex (81/100)

Policy Name: AG Secure Lifetime GUL III

Rate Classes: Preferred Plus, Preferred, Standard Plus, Standard; Non-Tobacco and Tobacco

Coverage Lengths: Age 95, 100, 121

Min Coverage Amount: $100,000

Max Coverage Amount: Over $10,000,000

Issue Age Range: 18-80

Optional Policy Riders: Terminal Illness, Accidental Death, Waiver of Premium, Spouse, and Child Rider

Perk of This Policy: AIG provides two solutions: the Accelerated Access Solution and Lifestyle Income Solution Riders.

With the Accelerated Access Solution, if you suffer a qualifying chronic illness during the life of your policy, it will provide you the option to access your tax-free death benefit through pre-determined monthly payments. You can either receive these payments for as long as you’re sick, or until the death benefit is depleted. Whatever is leftover at the time of your death will be paid to your beneficiary.

The Lifestyle Income Solution rider is designed for Americans who are living longer – starting at age 85, this rider allows you to translate your death benefit into a stream of supplemental income (typically tax-free) that you can use however you choose. Similar to the Accelerated Access Solution, the remnants of your death benefit will be paid to your beneficiary after you pass.

Principal Financial Group

Financial Ratings: A.M. Best (A+), S&P (A+), Moody’s (A1), Fitch (AA-), Comdex (91/100)

Policy Name: Universal Life Protector IV

Rate Classes: Super Preferred, Preferred, Super Standard, Standard; Non-Tobacco and Tobacco

Coverage Lengths: Age 90, 95, 100, 105, 121

Min Coverage Amount: $50,000

Max Coverage Amount: Over $10,000,000

Issue Age Range: 0-85

Optional Policy Riders: Accelerated Benefits, Children’s Term Insurance, Cost of Living Increase, Extended Coverage, Salary Increase, and Waiver of Monthly Policy Charge Rider

Perk of This Policy: Principal gives you three death benefit options: a level death benefit, an increasing death benefit, where the initial death benefit increases as the cash value accumulates, or a death benefit that increases as premiums are paid, and decreases when withdrawals are taken.

In addition, super preferred and preferred clients (up to age 60) can receive $1 million of coverage in just a short period of two days.

Penn Mutual

Financial Ratings: A.M. Best (A+), S&P (A+), Moody’s (Aa3), Fitch (N/A), Comdex (92/100)

Policy Name: Guaranteed Protection Universal Life

Rate Classes: Preferred Best, Preferred Plus, Preferred, Standard; Non-Tobacco and Tobacco

Coverage Lengths: Age 95, 121

Min Coverage Amount: $50,000

Max Coverage Amount: Over $10,000,000

Issue Age Range: 0-85

Optional Policy Riders: Accelerated Death Benefit, Accidental Death Benefit, Additional Insured Term Insurance, Children’s Term Insurance, Chronic Illness Accelerated Benefit, Disability Completion, Guaranteed Increase Option, and Supplemental Exchange Rider

Perk of This Policy:  Penn Mutual’s guaranteed increase option rider allows increases in coverage at certain ages without evidence of insurability. You also have flexibility when it comes to making premium payments, depending on the status of your cash value. If you have enough accumulation, you may withdraw from your cash value and either pay less or nothing at all on your premiums for a certain period of time.

Lincoln Financial Group

Financial Ratings: A.M. Best (A+), S&P (AA-), Moody’s (A1), Fitch (A+), Comdex (91/100)

Policy Name: LifeGuarantee UL

Rate Classes: Preferred Plus, Preferred, Standard; Non-Tobacco and Tobacco

Coverage Lengths: Age 120

Min Coverage Amount: $100,000

Max Coverage Amount: Over $10,000,000

Issue Age Range: 20-85

Optional Policy Riders: Accelerated Benefits, Accelerated Benefits with Critical Illness, Accidental Death Benefit, Children’s Term, Disability Waiver of Monthly Deductions Benefit, Disability Waiver of Specified Premium, Guaranteed Insurability, Lincoln LifeEnhance Accelerated Benefits, Minimum Death Benefit Endorsement, and Spouse Term Rider

Perk of This Policy:  Lincoln has a “Coverage Protection Guarantee (CPG),” meaning that you are guaranteed life insurance protection. If your cash surrender value is insufficient to cover your charges, CPG provides an alternate Coverage Protection Value (CPV) to ensure you don’t lose your coverage. The rider is automatically included in your policy, and can remain in force until age 121.

United of Omaha

Financial Ratings: A.M. Best (A+), S&P (AA-), Moody’s (A1), Fitch (A+), Comdex (93/100)

Policy Name: Guaranteed Universal Life

Rate Classes: Preferred Plus, Preferred, Standard Plus, Standard; Non-Tobacco and Tobacco

Coverage Lengths: Age 90, 95, 100, 105, 120

Min Coverage Amount: $50,000

Max Coverage Amount: Over $10,000,000

Issue Age Range: 18-85

Optional Policy Riders: Accelerated Death Benefit Rider for Terminal and Chronic Illness, Guaranteed Insurability, Guaranteed Refund Option, Accidental Death Benefit, Disability Waiver of Policy Charges, and Dependent Children’s Rider

Perk of This Policy: United of Omaha includes Guaranteed Refund Option (GRO) at no extra cost to the policy owner, giving them seven different opportunities to surrender their policy in exchange for a full refund of the premiums paid. The first window is at the end of the 15th year, when 50% of the premium will be refunded. The other windows are at the end of years 20, 21, 22, 23, 24 and 25, where the policy owner is refunded 100% of the premiums. It’s a great option if you decide you no longer need or want a policy in place.

North American Company

Financial Ratings: A.M. Best (A+), S&P (A+), Moody’s (N/A), Fitch (A+), Comdex (92/100)

Policy Name: Custom Guarantee Gen 8

Rate Classes: Super Preferred, Preferred, Standard; Non-Tobacco and Tobacco

Coverage Lengths: Age 85, 90, 95, 100, 105, 110, 120

Min Coverage Amount: $50,000

Max Coverage Amount: Over $10,000,000

Issue Age Range: 0-80

Optional Policy Riders: Accelerated Death Benefit, Children’s Term Insurance, Guaranteed Insurability, and Waiver of Monthly Deductions Rider

Perk of This Policy: North American offers an Extended No Lapse Guarantee (included in the policy), so you can rest assured knowing your death benefit is guaranteed. They also offer a Waiver of Monthly Deductions rider, which will waive your premium payments if you suffer from a qualifying disability.

Nationwide

Financial Ratings: A.M. Best (A+), S&P (A+), Moody’s (A1), Fitch (N/A), Comdex (91/100)

Policy Name: YourLife No Lapse Guaranteed UL

Rate Classes: Preferred Plus, Preferred, Standard; Non-Tobacco and Tobacco

Coverage Lengths: Age 100, 120

Min Coverage Amount: $100,000

Max Coverage Amount: Over $10,000,000

Issue Age Range: 18-85

Optional Policy Riders: Accelerated Death Benefit, Accidental Death Benefit, Children’s Term Insurance, Long-Term Care, Spouse, and Waiver of Monthly Deductions Rider

Perk of This Policy: Nationwide allows you to add your spouse to your policy with the spouse rider, and similar to North American, the Waiver of Monthly Deductions waives your premiums if you are to become disabled and cannot pay them.

Sagicor

Financial Ratings: A.M. Best (A-), S&P (N/A), Moody’s (N/A), Fitch (N/A), Comdex (N/A)

Policy Name: Sage No Lapse Universal Life Insurance

Rate Classes: Preferred, Standard; Non-Tobacco and Tobacco

Coverage Lengths: Age 120

Min Coverage Amount: $25,000

Max Coverage Amount: Over $10,000,000

Issue Age Range: 0-85

Optional Policy Riders: Accelerated Benefit Insurance, Accidental Death Benefit, Children’s Term Insurance, and Waiver of Monthly Deductions Rider

Perk of This Policy: Sagicor has the lowest minimum Coverage Amount on the list at $25,000. This is a great option to get lower premiums if you don’t need as much coverage.

Symetra

Financial Ratings: A.M. Best (A), S&P (A), Moody’s (A1), Fitch (A), Comdex (79/100)

Policy Name: UL-G

Rate Classes: Super Preferred, Preferred, Standard; Non-Tobacco and Tobacco

Coverage Lengths: Age 100, 105, 120

Min Coverage Amount: $50,000

Max Coverage Amount: Over $10,000,000

Issue Age Range: 16-85

Optional Policy Riders: Accidental Death Benefit, Additional Term, Charitable Giving Benefit, Chronic Illness, Chronic Illness Plus, Insured Children’s Benefit, Lapse Protection Benefit, Return of Premium, and Terminal Illness Rider

Perk of This Policy: Symetra offers a Good Life Rewards program to 20-70 year olds, which can potentially lower your overall cost of insurance if you qualify. In addition, They also include a Chronic Illness Benefit and Terminal Illness Benefit to your policy at no charge.

Questions? We Can Help!

Still not sure which company to go with for your guaranteed universal life policy? Give us a call!

At JRC Insurance Group, our agents do not have sales quotas to meet, we’re just genuine people who want to match you with the best life insurance company possible. We work with over 45 top-rated companies, and have no doubt that we can find a company for you.

If you would like to receive an accurate quote based on your age and health, as well as which type of policy and amount of coverage you should choose, give us a call. Toll-free, no obligations: (855) 247-9555.

You can also request a free instant quote online below to instantly compare rates from more than 45 highly-rated life insurance companies in less than a minute.