Full Review of the Best Guaranteed Universal Life Insurance

  • Guaranteed Universal Life Insurance is permanent life insurance coverage that will last a lifetime. For guaranteed universal life insurance quotes visit us at www.topquotelifeinsurance.com

Full Review of the Best Guaranteed Universal Life Insurance

Guaranteed universal life insurance, also referred to as permanent life insurance, is coverage that is designed to last your entire life. Although similar in nature, guaranteed universal life insurance should not be mistaken for whole life insurance as they do have their differences.

Without spending too much time on the differences between guaranteed universal life and whole life insurance, the most significant difference is the price and the amount of cash that can be made.

Guaranteed universal life insurance focuses mainly on low cost permanent coverage without significant cash build up, whereas whole life insurance has the ability to build high cash values and is also permanent coverage, but it is much more expensive.

UNIVERSAL LIFE INSURANCE: Permanent, little to no cash buildup, most affordable

WHOLE LIFE INSURANCE: Permanent, higher cash values, most expensive

For additional information on the differences between guaranteed universal life insurance and whole life insurance, please check out our article titled “What is the best life insurance coverage”.

Universal life insurance provides permanent fixed premium life insurance coverage that will never run out. It’s the most affordable form of permanent life insurance and your premium will never change from the time you purchase it to age 121. If you need assistance obtaining a quote, please send us a message or call us (888) 777-7574 and we will help. 

Permanent Life Insurance Backed with Guarantees 

Who doesn’t like guarantees, especially when it involves something like life insurance? Universal life insurance quotes offered through Top Quote Life Insurance are only from companies that provide guaranteed fixed premiums as well as guaranteed coverage that will last to age 121.

Guaranteed life insurance may just be the best type of life insurance coverage if you’re looking for permanent life insurance coverage, but don’t want the expensive premiums associated with a whole life policy.

Our Review of the Best Guaranteed Universal Life Insurance Policies

Guaranteed universal life insurance has come a long way since it first came out. Older universal life insurance policies did not have guarantees like they do now.

Unfortunately many of the policies written prior to 2000 are under performing and require additional premiums to keep them going, causing a hardship for many people including seniors.

In recent years, universal life insurance has made great changes and is gaining much more popularity when it comes to purchasing permanent life insurance coverage.

Since guaranteed universal life insurance is not offered through all life insurance companies, we at Top Quote Life Insurance have put together one of the best guides available to help you pick the best guaranteed universal life insurance policy.

What is Guaranteed Universal Life Insurance?

  

American General Life Insurance Company (AIG)

AIG Guaranteed Life Insurance

A.M. BEST’S RATING: (A) Excellent Rating

POLICY NAME: AG Secure Lifetime GUL III

TYPE OF POLICY: Guaranteed Universal Life Insurance

MAXIMUM COVERAGE LENGTH: Age 121

HEALTH CLASSIFICATIONS: Preferred Plus, Preferred, Standard Plus, Standard & Tobacco

MINIMUM COVERAGE AMOUNT: $100,000

MAXIMUM COVERAGE AMOUNT: $10,000,000+

ISSUE AGES: (Ages 18-80)

APPLICATION TYPE: Paper or Electronic

OPTIONAL POLICY RIDERS: Accidental Death Rider, Children’s Insurance Rider, Spouse Rider, Terminal Illness Rider, Waiver of Premium Rider

ENHANCED SURRENDER VALUE OPTION – AG Secure Lifetime GUL III comes with a free built in return of premium rider that allows for one time surrender within the first 60 days of the 20th policy anniversary year. The return of premium amount is 50% of the premium paid into the policy.

ACCELERATED ACCESS SOLUTION – This is an optional policy rider available at an additional cost that provides tax free income from the policy’s death benefit if diagnosed with a qualifying chronic illness. If qualified, a pre-determined portion of death benefit will be paid every month.

LIFESTYLE INCOME SOLUTION – This is an optional policy rider available at an additional cost that provides access to the policy death benefit for income for any reason after age 85. Income is tax free and the maximum amount that can be withdrawn is 10% per year.

 

American National Life Insurance (ANICO)

ANICO Universal Life Insurance

A.M. BEST’S RATING: (A) Excellent Rating

POLICY NAME: Signature Guaranteed UL

TYPE OF POLICY: Guaranteed Universal Life Insurance

MAXIMUM COVERAGE LENGTH: Age 121

HEALTH CLASSIFICATIONS: Preferred Plus, Preferred, Standard Plus, Standard & Tobacco

MINIMUM COVERAGE AMOUNT: $25,000

MAXIMUM COVERAGE AMOUNT: $10,000,000+

ISSUE AGES: (Ages 18-80)

APPLICATION TYPE: Paper or Electronic

OPTIONAL POLICY RIDERS: Children’s Term Insurance Rider, Disability Rider

GUARANTEED CASH OUT OPTION – Signature Guaranteed UL comes with a free return of premium rider that allows for one time surrender within the first 60 days of the 15th, 20th and 25th policy anniversary year. The return of premium amount is up to 65% of the premiums paid into the policy if surrender at anniversary year 15 and up to 100% if surrendered at anniversary years 20 and 25.

ACCELERATED BENEFIT RIDERS – This is a free policy rider that pays a portion of the death benefit in the event of a qualifying terminal illness critical illness or chronic illness.

NO MEDICAL EXAM UNDERWRITING – Coverage amounts under $250,000 can qualify for no medical exam underwriting.

  

Banner Life Insurance Company

Banner Guaranteed Universal Life Insurance

A.M. BEST’S RATING: (A+) Superior Rating

POLICY NAME: Life Choice UL

TYPE OF POLICY: Guaranteed Universal Life Insurance

MAXIMUM COVERAGE LENGTH: Age 121

HEALTH CLASSIFICATIONS: Preferred Plus, Preferred, Standard Plus, Standard & Tobacco

MINIMUM COVERAGE AMOUNT: $50,000

MAXIMUM COVERAGE AMOUNT: $10,000,000+

ISSUE AGES: (Ages 20-85)

APPLICATION TYPE: Paper or Electronic

OPTIONAL POLICY RIDERS: Children’s Insurance Rider, Accelerated Death Benefit Rider, Waiver of Premium Rider

  

Cincinnati Life Insurance Company

Cincinnati Guaranteed Universal Life Insurance

A.M. BEST’S RATING: (A) Excellent Rating

POLICY NAME: Life Horizons Life Setter GUL

TYPE OF POLICY: Guaranteed Universal Life Insurance

MAXIMUM COVERAGE LENGTH: Age 121

HEALTH CLASSIFICATIONS: Preferred Plus, Preferred, Standard Plus, Standard & Tobacco

MINIMUM COVERAGE AMOUNT: $50,000

MAXIMUM COVERAGE AMOUNT: $10,000,000+

ISSUE AGES: (Ages 18-75)

APPLICATION TYPE: Paper or Electronic

OPTIONAL POLICY RIDERS: Children’s Term Insurance Rider, Accelerated Benefit Rider

ACCELERATED BENEFIT RIDER – This is a free rider that provides an advance payment of the policies death benefit in the event of a qualifying terminal illness or if the insured is confined to a nursing home.

TERMINAL – The maximum amount that can be accelerated for a qualifying terminal illness is 50% of the death benefit, no greater than $250,000.

NURSING HOME  The maximum amount that can be accelerated for qualifying nursing home confinement is 50% of the death benefit, no greater than $250,000.

 

John Hancock

John Hancock Guaranteed Universal Life Insurance

A.M. BEST’S RATING: (A+) Superior Rating

POLICY NAME: UL-G

TYPE OF POLICY: Guaranteed Universal Life Insurance

MAXIMUM COVERAGE LENGTH: Age 121

HEALTH CLASSIFICATIONS: Preferred Plus, Preferred, Standard Plus, Standard & Tobacco

MINIMUM COVERAGE AMOUNT: $100,000

MAXIMUM COVERAGE AMOUNT: $10,000,000+

ISSUE AGES: (Ages 0-90)

APPLICATION TYPE: Paper or Electronic

OPTIONAL POLICY RIDERS: Disability Payment of Specified Premium, Accelerated Benefit, Long-Term Care

LONG-TERM CARE (LTC)  This is an optional policy rider available at an additional cost that provides funds to help pay for qualified long term care expenses. The maximum monthly benefit will be based on either 1%, 2% or 4% of the policy’s death benefit elected at issue.

 

Lincoln Financial Group

Lincoln Guaranteed Universal Life Insurance

A.M. BEST’S RATING: (A+) Superior Rating

POLICY NAME: Life Guarantee UL

TYPE OF POLICY: Guaranteed Universal Life Insurance

MAXIMUM COVERAGE LENGTH: Age 121

HEALTH CLASSIFICATIONS: Preferred Plus, Preferred, Standard Plus, Standard & Tobacco

MINIMUM COVERAGE AMOUNT: $100,000

MAXIMUM COVERAGE AMOUNT: $10,000,000+

ISSUE AGES: (Ages 20-85)

APPLICATION TYPE: Paper or Electronic

OPTIONAL POLICY RIDERS: Accelerated Benefit Rider with Critical Illness Coverage, Accidental Death Benefit Rider, Children’s Term Rider, Disability Waiver of Month Deduction Benefit, Disability Waiver of Specified Premium, Guaranteed Insurability Rider, Lincoln Life Enhance Rider, Minimum Death Benefit Endorsement, Spouse Term Rider

ACCELERATED BENEFIT RIDER WITH CRITICAL ILLNESS COVERAGE – This is a free rider that pays a portion of the death benefit in the event of a qualifying terminal illness critical illness or permanent confined to a nursing home

TERMINAL ILLNESS  The maximum amount that can be accelerated for a qualifying terminal illness is 50% of the death benefit, no greater than $250,000.

CRITICAL ILLNESS  The maximum amount that can be accelerated for qualifying critical illness is 50% of the death benefit, no greater than $250,000.

NURSING HOME  The maximum amount that can be accelerated for qualifying nursing home confinement is 40% of the death benefit, no greater than $250,000.

LINCOLN LIFE ENHANCE RIDER – This is an optional policy rider available at an additional cost that provides a portion of the policy’s death benefit if the insured is diagnosed with a qualifying chronic illness. The maximum amount that can be accelerated is up to 100% of the death benefit.

  

Mutual of Omaha Life Insurance Company

Mutual of Omaha Guaranteed Universal Life Insurance

A.M. BEST’S RATING: (A+) Superior Rating

POLICY NAME: Guaranteed Universal Life

TYPE OF POLICY: Guaranteed Universal Life Insurance

MAXIMUM COVERAGE LENGTH: Age 121

HEALTH CLASSIFICATIONS: Preferred Plus, Preferred, Standard Plus, Standard & Tobacco

MINIMUM COVERAGE AMOUNT: $50,000

MAXIMUM COVERAGE AMOUNT: $10,000,000+

ISSUE AGES: (Ages 18-85)

APPLICATION TYPE: Paper or Electronic

OPTIONAL POLICY RIDERS: Accelerated Death Benefit Rider, Waiver of Surrender Charges, Guaranteed Insurability Rider, Accidental Death Benefit Rider, Disability Waiver Rider, Dependent Children’s Rider

ACCELERATED DEATH BENEFIT RIDER – This is a free rider that provides an advance payment of the policies death benefit in the event of a qualifying terminal illness or qualifying chronic illness.

TERMINAL ILLNESS  The maximum amount that can be accelerated for a qualifying terminal illness is 80% of the death benefit, no greater than $1,000,000.

CHRONIC ILLNESS – The maximum amount that can be accelerated for a qualifying chronic illness is 80% of the death benefit, no greater than $1,000,000.

NO MEDICAL EXAM – Option to purchase no medical exam coverage with coverage amounts from $50,000-$250,000 at standard health classification only.

 

Nationwide

Nationwide Guaranteed Universal Life Insurance

A.M. BEST’S RATING: (A+) Superior Rating

POLICY NAME: YourLife No Lapse Guaranteed UL

TYPE OF POLICY: Guaranteed Universal Life Insurance

MAXIMUM COVERAGE LENGTH: Age 120

HEALTH CLASSIFICATIONS: Preferred Plus, Preferred, Standard & Tobacco

MINIMUM COVERAGE AMOUNT: $100,000

MAXIMUM COVERAGE AMOUNT: $10,000,000+

ISSUE AGES: (Ages 18-85)

APPLICATION TYPE: Paper or Electronic

OPTIONAL POLICY RIDERS: Accelerated Death Benefit Rider, Accidental Death Benefit Rider, Children’s Term Insurance Rider, Long-Term Care Rider, Spouse Rider, Waiver of Monthly Deduction Rider

SPOUSE RIDER – This is an optional policy rider available at an additional cost that provides term insurance coverage for the spouse.

LONG-TERM CARE RIDER – This is an optional policy rider available at an additional cost that provides an acceleration of up to 100% policy’s death benefit if the insured is unable to perform two or more activities of daily living.

 

North American Life Insurance Company

North American Guaranteed Universal Life Insurance

A.M. BEST’S RATING: (A+) Superior Rating

POLICY NAME: Custom Guarantee Gen 8

TYPE OF POLICY: Guaranteed Universal Life Insurance

MAXIMUM COVERAGE LENGTH: Age 121

HEALTH CLASSIFICATIONS: Preferred Plus, Preferred, Standard Plus, Standard & Tobacco

MINIMUM COVERAGE AMOUNT: $25,000

MAXIMUM COVERAGE AMOUNT: $10,000,000+

ISSUE AGES: (Ages 0-85)

APPLICATION TYPE: Paper or Electronic

OPTIONAL POLICY RIDERS: Accidental Death Benefit Rider, Children’s Term Rider, Guaranteed Insurability Rider, Waiver of Monthly Deduction Rider

ACCELERATED DEATH BENEFIT RIDER – This is a free rider that provides an advance payment of the policies death benefit in the event of a qualifying critical, chronic or terminal illness.

CRITICAL  Maximum amount of death benefit that may be accelerated for a qualifying critical illness is the lesser of 25% of the death benefit or maximum $50,000 per year.

CHRONIC  Maximum amount of death benefit that may be accelerated for a qualifying chronic illness is the lesser of 24% of the death benefit or maximum $240,000 per year.

TERMINAL  Maximum amount of death benefit that may be accelerated for a qualifying terminal illness is the lesser of 75% of the death benefit or maximum $750,000.

 

Protective Life Insurance Company

Protective Guaranteed Universal Life Insurance

A.M. BEST’S RATING: (A+) Superior Rating

POLICY NAME: Custom Choice UL

TYPE OF POLICY: Guaranteed Universal Life Insurance

MAXIMUM COVERAGE LENGTH: Age 121

HEALTH CLASSIFICATIONS: Preferred Plus, Preferred, Standard & Tobacco

MINIMUM COVERAGE AMOUNT: $100,000

MAXIMUM COVERAGE AMOUNT: $10,000,000+

ISSUE AGES: (Ages 18-85)

APPLICATION TYPE: Paper or Electronic

OPTIONAL POLICY RIDERS: Accidental Death Benefit Rider, Children’s Term Rider, Disability Benefit Rider, Extended Care Rider, Income Provider Option, Terminal Illness Rider

EXTENDED CARE RIDER – This is a free rider that provides an advance payment of the policy’s death benefit in the event of a qualifying chronic illness.

DISABILITY BENEFIT RIDER – This is an optional policy rider available at an additional cost that waives premium payments if the insured becomes totally disabled.

INCOME PROVIDER OPTION – This option allows for the insured to select a guaranteed monthly or annual income stream for the death benefit payout to the beneficiary. Under most conditions, the death benefit is generally paid in full to the beneficiary. The insured gets to set the payout amount and how often.

  

Prudential Life Insurance Company

Prudential Guaranteed Universal Life Insurance

A.M. BEST’S RATING: (A+) Superior Rating

POLICY NAME: PruLife Universal Protector

TYPE OF POLICY: Guaranteed Universal Life Insurance

MAXIMUM COVERAGE LENGTH: Age 121

HEALTH CLASSIFICATIONS: Preferred Plus, Preferred, Standard Plus, Standard & Tobacco

MINIMUM COVERAGE AMOUNT: $100,000

MAXIMUM COVERAGE AMOUNT: $10,000,000+

ISSUE AGES: (Ages 18-85)

APPLICATION TYPE: Paper or Electronic

OPTIONAL POLICY RIDERS: Accidental Death Benefit, Children Level Term Rider, Enhanced Disability Benefit, Living Needs Benefit, Benefit Access Rider.

ENHANCED DISABILITY BENEFIT – This is an optional policy rider available at an additional cost that waives premiums if you become disabled.

LIVING NEEDS BENEFIT RIDER – This is a free rider that provides an advance payment of the policies death benefit in the event of a qualifying terminal illness or if the insured is confined to a nursing home.

BENEFIT ACCESS RIDER  This is an optional policy rider available at an additional cost that provides the insured the option to accelerate up to 100% of the policy’s death benefit should the insured become ill with a chronic or terminal illness.

  

Sagicor Life Insurance Company

Sagicor Guaranteed Universal Life Insurance

A.M. BEST’S RATING: (A-) Excellent Rating

POLICY NAME: Sage No Lapse Universal Life Insurance

TYPE OF POLICY: Guaranteed Universal Life Insurance

MAXIMUM COVERAGE LENGTH: Age 121

HEALTH CLASSIFICATIONS:  Preferred, Standard Plus, Standard & Tobacco

MINIMUM COVERAGE AMOUNT: $25,000

MAXIMUM COVERAGE AMOUNT: $10,000,000+

ISSUE AGES: (Ages 0-85)

APPLICATION TYPE: Paper or Electronic

OPTIONAL POLICY RIDERS: Accelerated Benefit Insurance Rider, Accidental Death Benefit Rider, Children’s Term Rider, Waiver of monthly Deductions Rider

ACCELERATED BENEFIT INSURANCE RIDER – This is a free rider that provides an advance payment of the policies death benefit in the event of a qualifying terminal illness or qualifying chronic illness.

TERMINAL ILLNESS – The maximum amount that can be accelerated for a qualifying terminal illness is 25% of the death benefit, no greater than $400,000.

CHRONIC ILLNESS – The maximum amount that can be accelerated for a qualifying chronic illness is 25% of the death benefit, no greater than $400,000.

NO MEDICAL EXAM – No medical exam underwriting is available for coverage amounts of $25,000 – $400,000.

 

Symetra

Symetra Guaranteed Universal Life Insurance

A.M. BEST’S RATING: (A) Excellent Rating

POLICY NAME: UL-G

TYPE OF POLICY: Guaranteed Universal Life Insurance

MAXIMUM COVERAGE LENGTH: Age 121

HEALTH CLASSIFICATIONS: Preferred Plus, Preferred, Standard Plus, Standard & Tobacco

MINIMUM COVERAGE AMOUNT: $50,000

MAXIMUM COVERAGE AMOUNT: $10,000,000+

ISSUE AGES: (Ages 16-85)

APPLICATION TYPE: Paper or Electronic

OPTIONAL POLICY RIDERS: Chronic Illness Plus Rider, Accidental Death Benefit Rider, Additional Term Rider, Charitable Giving Benefit

CHRONIC ILLNESS RIDER – This is a free rider that provides an advance payment of the policies death benefit in the event of a qualifying terminal illness or qualifying chronic illness.

TERMINAL ILLNESS – The maximum amount that can be accelerated for a qualifying terminal illness is 75% of the death benefit, no greater than $500,000.

CHRONIC ILLNESS – The maximum amount that can be accelerated for a qualifying chronic illness is 50% of the death benefit, no greater than $500,000.

CHRONIC ILLNESS PLUS RIDER – This is an optional policy rider available at an additional cost that provides a portion of the policy death benefit if the insured is diagnosed with a qualifying chronic illness. The maximum amount that can be accelerated is up to 100% of the death benefit.

CHARITABLE GIVING BENEFIT – This is an optional free rider that allows the insured the option elect 1% of the policy death benefit up to $100,000 to go to a qualified charity of the policy owner’s choice.

 

Instant Guaranteed Universal Life Insurance Quotes

Every company on our list of “The Best Guaranteed Universal Life Insurance” is offered through Top Quote Life Insurance. There are two simple ways to get guaranteed universal life insurance quotes with Top Quote Life Insurance.

#1 Located on every page is our instant life insurance quote form. Simply enter your quote criteria in the quote form and within seconds the rates will display on your screen from the lowest price to the highest.

When selecting a term length choose:

Age 121 (No Lapse U/L) – Select this length for your payments spread throughout the entire contract.

#2 When selecting a payment mode choose Annual. The annual payment mode will provide you a list of all available life insurance companies that offer coverage.

#3 Need help running a quote or have questions about a particular company or insurance rider? Please give us a call 888-777-7574 or send us a message below and will help you out right away.

Review of the Best Guaranteed Universal Life Insurance by Jeffrey Manola Top Quote Life Insurance

2017-08-25T00:47:19+00:00

About the Author:

Jeffrey Manola is the owner and an experienced life insurance agent at Top Quote Life Insurance.

His goal is to provide online consumers with the absolute top quotes for all term life insurance, permanent life insurance and no medical exam life insurance. Not only does he strive to provide you with the best premium for your life insurance coverage, he also wants you to be well informed about life insurance coverage options and its importance.

Never hesitate to reach out to Jeffrey if you need help. Top Quote Life Insurance is more than just an online quoting agency we want to help you save money, protect your future, and earn your trust (888) 777-7574.