Cho Osing the right life insurance can be very confusing for many people. There are many different types of policies, and how do you know which is the proper option for you? We are going to explain guaranteed universal life insurance companies and their offerings in this video.
Guaranteed universal life insurance policies, often referred to as GUL, come with fixed premium costs, death benefits, and a small amount of cash. These policies are attractive to many because they are both affordable life insurance policies, with premiums that will not go up over time.
They also offer death benefits and the option to decrease (or increase) death benefits without having to purchase a new policy. This may be the case if the policyholder finds they have other financial resources and no longer need to carry the policy levels and will decrease them.
While these policies are great, they should not be taken out to save money. Most GUL companies have rules as to how much money the policyholder will get if they choose to drop their coverage.
Those looking for lifelong insurance coverage often find that this type of insurance product fits their lifestyle and offers the price and coverage they can afford.
