Affordable Life Insurance Protection for Your Family

Guaranteed Universal Life Insurance

Guaranteed Universal Life Insurance

Guaranteed Universal Life Insurance is a permanent life insurance policy that guarantees a death benefit, cash value, and/or premiums. 


Guaranteed universal life insurance (GUL) is for people who do need that coverage later in life. In that sense, guaranteed universal life insurance is like a term life insurance policy where the term lasts the rest of your life. GUL policies start as low as $45 per month and are available from several insurance carriers, including Boston Mutual, Transamerica, Prudential, State Farm, and New York Life, among others. 

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Things to Know of Guaranteed Universal Life:

Guaranteed universal life insurance is often significantly more expensive than term life insurance

With guaranteed universal life insurance, the policy provider guarantees your death benefit, cash value, and/or premiums

For those who want more than just a death benefit for their beneficiaries, guaranteed universal life insurance may be a good option.

Guaranteed universal life insurance (GUL) tends to be more expensive than term life insurance protection. However, it also tends to be a bit cheaper than premiums charged for a whole life insurance policy.

Because GUL does cover your lifespan, it does tend to be more like whole life insurance prices. 

Term or Permanent Life Insurance, Which is Better for You?

When shopping for affordable guaranteed universal coverage, there will be some special riders or clauses you may need to be aware of in your policy to better estimate your premium for coverage.

For example, you may have options for Return-of-Premium which would cover you if you decided to Terminate your Life Insurance Plan, or Reduce your Death Benefit.

Like any other permanent life policy, guaranteed universal insurance tends to be significantly more expensive than term life. Keep in mind that guaranteed universal life insurance does have flexible premiums to benefit consumers.

Sample Monthly Guaranteed Universal Life Insurance Rates

Let’s take a look at some sample monthly insurance rates to give you a better idea of what to expect.

Average Monthly Guaranteed Universal Life Insurance Rates


Policyholder Age                                         Average Monthly Rate

  25                                                                               $45.70

  35                                                                               $54.00

  45                                                                               $65.17

  55                                                                               $94.58



Premiums may vary quite a bit between insurers, and based on various rating factor; such as, age, gender, amount of coverage, etc. 

Can Your Guaranteed Universal Life Rates Change? 

Absolutely. Rates vary greatly based on many factors.

The market does influence interest rates which could be a factor when considering guaranteed universal life insurance. 

This means the cost of guaranteed universal insurance might not be the same when you’re shopping today as it will be three or six months from now.

What is a Guaranteed Universal Life Insurance Policy?

It’s a form of permanent life insurance. Permanent insurance is designed to last throughout your entire lifetime, no matter how old you live to be.

With guaranteed universal plans, your premiums are set at one rate for the duration of your life, or a limited payment period. 

Is Universal Life Insurance Guaranteed? 

Not always. GUL assures that your rates will not change, despite changes in the market. Without GUL, premiums might change if there is a major change in the market.

What is the Difference Between Whole Life Insurance and Universal Life?

The key difference between the two policy types is that GUL insurance allows flexible premiums. In many cases, this is due to a reduced cash value when compared to whole life policies.

What is the Cash Value Component of Universal Life? 

It’s a separate holding account that you pay into as you pay your premiums. A portion of your premium goes to pay for the death benefit, while the remainder goes into a cash account.

Flexible premiums essentially mean that a client may choose to pay more or less at certain periods for their life insurance. 

For example, if someone needed to save a few bucks during the COVID-19 pandemic, they could pay less on their life insurance premiums for a couple of months until they are ready to get back to normal premium payments. 

This is one of a few reasons to purchase a permanent life insurance plan.

What is a Guaranteed Universal Life Policy?

  • GUL insurance is a more cost-efficient version of whole life coverage. 
  • Whole life insurance premiums can be more expensive.


A GUL policy has multiple components. 

The Guaranteed Portion means the insurer of your policy guarantees your death benefit, cash value, and/or premiums. If the market crashes it’s not your problem.

A Universal life insurance policy is simply a permanent insurance policy that typically has both a Savings Component and a Death Benefit

As mentioned before, these can typically be adjusted based on the needs of the insurance policy owner.

Why Choose a GUL Insurance Policy? 

If you want to have a predictable payment that covers your lifespan, guaranteed universal life may be right for you. 

With the same context as whole life coverage, but more flexibility given a financial emergency, there is Less Risk with a Guaranteed universal life policy.

Speaking of risk, before you make any decisions you should ask yourself "What the difference is between guaranteed and non-guaranteed life insurance?"

A Guaranteed Policy has higher premiums but puts the insurance provider at risk; whereas, a Non-Guaranteed Policy puts the customer at risk

Who Do You Want to Absorb a Stock Market Crash?

With guaranteed universal policies, expect to pay a premium, with rates somewhere between those charged for whole and term life policies, that covers your death benefit, and still has a cash value component, to serve as an investment.

Hundreds of life insurance carriers offer guaranteed universal life insurance policies. 

How Does a Universal Life Policy Work?

A universal life insurance policy is a unique tool that can be used to provide a death benefit, but most universal life policies also carry a cash value component. 


Cash value in a universal life policy means that you pay a higher premium, but are essentially paying into a savings fund that you can access, if necessary.

Unlike a whole life policy, that cash value can be paid in varying amounts if needed, meaning your monthly premiums can be reduced if needed.

What is the Difference Between Guaranteed and Non-Guaranteed Universal Life Insurance?

For a guaranteed life policy, the policy owner will pay a set premium that will not change despite changes in inflation, market changes, etc. This is basically to protect the policyholder, though that does come at a cost.

For a non-guaranteed life policy, the premiums tend to start lower

However, if there are any events that could be catastrophic to the stock market, the premiums could be raised at the expense of the insurance policyholder. 

There is some risk involved.

What is Guaranteed Universal Life Insurance Used For?

GUL insurance is another type of permanent life insurance. 

It may be a good option for people who would like to get ahead on their life insurance, thus protecting their family or beneficiaries if the policyholder were to pass. 

This, however, is not the sole purpose of guaranteed universal life.

Does GUL Insurance Help Consumers? 

"Yes". Guaranteed universal life allows policyholders more flexibility with great coverage and consistent rates. It makes budgeting, financial hardships, and the overall life insurance process easier to handle.

Who Should Consider Guaranteed Universal Life Insurance?

GUL coverage is a good option for anyone looking to Protect their beneficiaries and Invest. 

It is more cost-effective than whole life coverage, but still holds cash value to use if you need money.

With consistent rates throughout your entire lifetime, it could be good for anyone with beneficiaries.

Imagine you are a newlywed and you just purchased your guaranteed universal life policy with $400,000 in coverage. 

Twenty years down the road you get cancer and sadly leave your spouse behind. You two were able to make the payments, despite The Great Recession, thanks to the flexibility of your GUL policy.

Your mortgage gets paid off, and you accumulated $75,000 in cash value for your spouse to use for funeral expenses and college tuition for your children.

What are the Benefits of Guaranteed Universal Life Insurance?

GUL insurance has numerous benefits which are highlighted by flexibility, reasonable rates, a death benefit, and cash value.

Compared to whole life and term insurance, guaranteed universal life insurance gives you the best of both worlds. 

Find Guaranteed Universal Life Rates Using Our FREE Price Quote Tool

Guaranteed Universal Life Insurance for Seniors

It can be expected that any life insurance policy will be a little more-costly for older adults. With guaranteed universal life for seniors over age 70, you can expect the same. 

However, there are some benefits.

Even with term life, rates increase quite a bit as adults get older. 

At least with guaranteed universal life, you will pay less than whole life insurance, build cash value, and have flexibility, as you get older.

For seniors, it’s hard enough to find a reasonable life insurance policy, and even then, many companies only offer 10-year terms. If you live another 30 years, you are going to pay more and more for the same coverage, each additional 10-year period.

You get consistent premium payments as a senior with guaranteed universal life insurance.

How to Qualify for Guaranteed Universal Life Insurance

Most of the larger life insurance carriers offer GUL policies. 

To find out if a specific company has guaranteed universal life insurance, simply go to its website and see what services the company offers.

Things to Consider:

  • For example, do they offer a return of premium life insurance rider, so you can get your money-back? 
  • If you need to cancel your insurance policy, don’t you want some of your dividends back?
  • Want to be able to increase your death benefit without going through all of the underwriting and taking a physical exam? 
  • You might want a guaranteed insurability rider. Be sure to ask your insurance provider what riders are offered to help protect yourself and your beneficiaries.

No-Exam versus Guaranteed-Issue Policies

Another consideration during the application process will be exam versus no-exam options, at least for some life insurance companies. 

Remember that no-exam rates are typically higher than exam rates due to the unknown. It usually costs more to get insured without taking a health exam for life insurance.

If you have pre-existing health issues, no-exam policies are likely the safer bet for you to get insured.

Again, a guaranteed-issue policy simply means your rates won’t change. 

If something affects the insurance company, that’s not your problem. This is also why it’s smart to choose an insurance company with a strong financial background, so the insurer is still around when your family needs the death benefit paid out on your life insurance policy.

What If My Guaranteed Universal Life Insurance Application is Denied?

There’s always an off chance that a company will deny your guaranteed universal life insurance application. 

If you are turned down or denied coverage, you always have the option of trying another life insurance company to get insured.

You’ll want to get a report stating why your application for coverage was denied. 

For example, maybe you took a physical examination and found out you had symptoms of COPD or Emphysema. 

You could always go with a no-exam life insurance policy to get by that health issue with another insurance carrier.

What to Do If Your GUL Insurance Application is Denied?

Depending on why your life insurance application was turned down, you can always appeal the denial for coverage. This may mean paying a higher premium. 

Pros and Cons of Guaranteed Universal Life Insurance Plans

There are many reasons to prefer or avoid a guaranteed universal life policy. 

Pros: Why Guaranteed Universal Life is a Good Investment

  • Cheaper rates than whole life insurance
  • Financial flexibility and safety
  • Still holds cash value


Cons: Disadvantages of Guaranteed Universal Life 

  • More expensive than term life insurance
  • Might not be the best investment location


NOTE: If you have the knowledge to invest elsewhere, you might find other sources offer you a better return on your money.

Guaranteed Universal Life Insurance: The Bottom Line

At the end of the day, there are a lot of concerns to consider when choosing a life insurance policy. Guaranteed universal life insurance is great for those who want more than just a death benefit for their beneficiaries; such as, an investment feature, in addition to a death benefit.

Now that we’ve answered the question of what is guaranteed universal life insurance, don’t wait another minute to get affordable life insurance. 



How Much Does Guaranteed Universal Life Insurance Cost?


The premium charged for a life insurance policy with guaranteed universal life coverage will depend on several factors, including but not limited to the following:

Here are some of the factors that affect your Guaranteed Universal life insurance premium:

  • Age – Just like any life insurance, rates are cheaper when you are young. The older you get the more you will pay.
  • Health –The healthier you are the cheaper the policy.
  • Smoking – Are you a smoker? Tobacco rates will significantly increase your cost.
  • Gender – Women have much lower rates that men, as on average they live longer than men.
  • Insurer – Each insurance company has different standards and ratings.
  • Insurance Contract – The details of each policy, including the terms, conditions, exclusions, etc.


In addition, other factors may impact your rate for life insurance, including but not limited to:

Your lifestyle, occupation, hobbies, and driving record.

Check out our FREE quote tool to get started comparing life insurance rates today.

How Does Guaranteed Universal Life Insurance (GUL) Work?


A guaranteed universal life (GUL) insurance policy offers a death benefit and premium payments that will not change over time. 

You select an age at which the policy ends (such as age 90, 95, 100, 105, 110, or 121). Choosing a higher age will increase the premium charged for your coverage.


Why Choose Universal Life Over Non-Guaranteed Universal Life Insurance?


Here’s why we’re big proponents of guaranteed universal life over non-guaranteed universal life:  

  • Your cost of insurance will not change, even as you get older, or if your health changes. 
  • Your insurance coverage isn’t tied to an investment. 
  • You pay for the life insurance protection only, (just like term life insurance).


Benefits of Guaranteed Universal Life Insurance


  • Your cost of life insurance will not change, even as you get older or if your health changes.
  • Your coverage isn’t tied to an investment. You pay for the life insurance protection only, just like term life insurance.
  • You will pay less up front. Guaranteed universal life insurance is a fraction of the cost of non-guaranteed universal life.
  • You don’t run the risk of losing coverage from unfavorable investments or changes in the stock market.


Help Protect Your Family’s Financial Future with Boston Mutual. 

A Guaranteed Acceptance whole life insurance policy from the Boston Mutual Insurance Company can ensure your family’s well-being by providing them with financial security when you are no longer able to do so.

A whole life insurance policy can be used to pay for your final expenses, to leave an inheritance to your loved ones, fund a college savings plan for your child or grandchild, or provide money to your family for any credit card debts, personal loans or medical bills that you leave behind.


Our Unique Guaranteed Acceptance Whole Life Insurance Policy Offers:


  • Coverage that will last your entire lifetime
  • Guaranteed acceptance to working U.S. residents between the ages of 18-70*
  • No health examination or health questions asked, for approval of coverage
  • Variable coverage amounts of up to $100,000 of life insurance
  • Lifetime benefits catered to your individual needs
  • Benefits that will never decrease regardless of changes to your age or health
  • Affordable premiums that never increase regardless of changes to your age or health
  • A cash value that earns interest and can be borrowed from
  • Accidental death coverage that can double or triple your death benefit
  • Full coverage starts within 60 days of making your first premium payment


*To qualify, applicants must be working at least 20 hours per week, and not collecting any form of disability income or SSDI.


What is Whole Life Insurance?


The Boston Mutual Life Insurance Company offers guaranteed acceptance universal life insurance to all qualified applicants until the age of 70. These policies are designed to provide fixed coverage and level rates for your lifetime.

This whole life insurance policy also includes accidental death benefits that pay double or triple the face amount of your policy, if you die as a result of an accident.


Frequently Asked Questions:


Q: What is Guaranteed Acceptance Life Insurance?

A: Guaranteed issue life insurance provides life insurance coverage to applicants with health or lifestyle issues that may prevent them from qualifying for a traditional term or whole life insurance policy with a medical screening. It means, you are guaranteed approval for coverage if you meet the age requirements.


Q: Do I Need a Medical Exam to Qualify for Coverage?

A: No, you will not need to complete a medical examination to qualify for a Guaranteed Acceptance policy from the Boston Mutual Life Insurance Company.


Q: Will My Rates Ever Increase in the Future?

A: No, with Boston Mutual’s Guaranteed Acceptance policy, your life insurance premiums will never increase, regardless of any changes to your age, health, or lifestyle.


Q: How Much Life Insurance Coverage Can I Buy?

A: Boston Mutual’s Guaranteed Acceptance policy offers $5,000 to $100,000 of coverage to working applicants between the ages of 18 and 70.


Q: Can My Life Insurance Coverage be Canceled for Any Reason?

A: The life insurance company cannot cancel your life insurance policy for any reason if your premiums are paid, regardless of any health or lifestyle changes. If you decide to cancel your policy, you can do so at any time without penalties or fees.


Q: What Do I Need to Know Before Buying a Life Insurance Policy?

A: Before shopping for life insurance, we recommend reviewing your coverage needs and your budget to determine how much coverage you afford. Keeping your policy affordable could prevent you from falling behind on payments and losing coverage in the future.


Q: How Much Life Insurance Do I Need?

A: Everyone’s need for life insurance is different, and some people need more life insurance protection than others. Guaranteed issue policies are not designed to provide a replacement income, they were created to leave money behind for outstanding debt, final expenses, and burial costs.


Q: Who Should I List as My Beneficiary?

A: A life insurance policy’s beneficiary can be an individual(s), a trust, a business, a charity, or an estate. The beneficiary listed on your life insurance policy will receive the death benefit from your life insurance policy when you pass away.


About The Boston Mutual Insurance Company


The Boston Mutual Life Insurance company that was founded more than 130 years ago in 1891. Currently the financial services provider employs more than 25,000 people worldwide and offers a variety of retirement solutions and insurance products including; life insurance, health insurance, dental insurance, retirement savings plans, and long term care.

Buying life insurance is a long-term decision, and the life insurance company that you choose to buy your policy from should provide you with peace of mind. You want to know that they will be there when your family needs them the most. Therefore, it’s important to choose a life insurance provider that is financially solid with a proven track record of paying their claims.

Boston Mutual has never failed to pay a valid life insurance claim, and in February 2021, A.M. Best reaffirmed their financial stability rating as A (Excellent). A.M. best is an Independent Rating Agency that focuses primarily on U.S.- based insurance providers. (Please note: These financial ratings refer only to the overall financial outlook of the insurer, and they are not an endorsement or recommendation for any company or it’s products).

Most importantly, the Boston Mutual Life Insurance Company is a reliable insurer that manages $20 billion dollars of inforce policies, generates more than $271 million annually, and holds close to $2 billon U.S.D. in assets. With a Guaranteed Acceptance policy from Boston Mutual, you can lock in fixed rates regardless of your health, age, or lifestyle.

Boston Mutual’s policy offers full coverage within 30 to 60 days of making your first payment. Unlike other forms of guaranteed acceptance life insurance, your benefits will not be reduced for a full two years if you pass away from a health-related issue. Coverage starts on the 1st of the month after your 30-day waiting period.

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Disclosure: Compensated Affiliate