The 8 Best Companies for Guaranteed Universal Life Insurance
In the insurance industry, there are two types of policies that recieve most of the attention - term life insurance and whole life insurance.
While most agents and brokerages focus on these two products, only a handful of companies offer a hybrid of the two known as guaranteed universal life insurance.
Unlike the non-guaranteed Universal Life insurance policies that many people made the mistake of buying in the 1980's, Guaranteed Universal Life insurance coverage offers guaranteed rates and level coverage without investing, just like term life insurance.
In early 2022, a few top-rated life insurance providers stopped offering these policies due to historically low interest rates. While interest rates have recently increased in an effort to combat inflation, other companies could follow suite and discontinue offering their GUL products.
Quick Article Guide
Here’s what we'll cover in this post:
- What is Guaranteed Universal Life Insurance?
- Guaranteed Universal Life Sample Quotes
- Best Guaranteed Universal Life Insurance Companies
- 1. Protective Life
- 2. Pacific Life (PacLife)
- 3. American General (AIG)
- 4. Penn Mutual
- 5. Cincinnati Life
- 6. United of Omaha
- 7. North American
- 8. Nationwide
- Companies Not Included for 2023
- Questions? We Can Help!
What is Guaranteed Universal Life Insurance?
Guaranteed Universal Life Insurance combines the best elements of term and whole life insurance. It provides permanent life insurance with guaranteed rates, usually until age 90 or later.
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 | $65.60 | $138.00 | $265.50 | $500.00 |
| 45 | $80.80 | $169.00 | $324.50 | $609.00 |
| 50 | $102.50 | $212.00 | $409.50 | $777.00 |
| 55 | $125.30 | $268.00 | $521.00 | $997.00 |
| 60 | $161.40 | $351.50 | $683.50 | $1,309.00 |
| 65 | $207.80 | $477.00 | $924.50 | $1,761.00 |
| 70 | $285.30 | $639.50 | $1,272.00 | $2,524.00 |
Sample Guaranteed Universal Life Rates for Women
| Age | $100,000 | $250,000 | $500,000 | $1,000,000 |
| 40 | $59.00 | $121.75 | $231.50 | $427.00 |
| 45 | $72.00 | $139.50 | $272.50 | $525.00 |
| 50 | $90.00 | $177.25 | $350.50 | $688.00 |
| 55 | $110.40 | $229.25 | $452.00 | $866.00 |
| 60 | $144.30 | $303.25 | $586.00 | $1,111.00 |
| 65 | $182.30 | $400.50 | $773.50 | $1,466.00 |
| 70 | $251.70 | $577.50 | $1,118.00 | $2,126.00 |
*Rates are accurate as of 7/29/2022 and are provided for illustrative purposes only.
Best Guaranteed Universal Life Insurance Companies
Here's a breakdown of the 8 best guaranteed universal life insurance providers for 2023 and the coverage options they offer:
| Company | Issue Ages | Coverage | |
| |||
 |
From: 18 To: 75 |
$100,000 - $10,000,000 | |
 |
From: 20 To: 75 |
$25,000 - $5,000,000 | |
 |
From: 18 To: 80 |
$100,000 - $10,000,000 | |
 |
From: 0 To: 85 |
$50,000 - $10,000,000 | |
 |
From: 18 To: 75 |
$50,000 - $10,000,000 | |
 |
From: 18 To: 85 |
$50,000 - $10,000,000 | |
 |
From: 0 To: 85 |
$50,000 - $10,000,000 | |
 |
From: 18 To: 85 |
$100,000 - $10,000,000 |
1. 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: 18-75
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.
2. Pacific Life (PacLife)
Financial Ratings: A.M. Best (A+), S&P (AA-), Moody’s (Aa3), Fitch (AA-), Comdex (93/100)
Policy Name: PL Promise GUL
Rate Classes: Preferred Plus, Preferred, Standard Plus, Standard; Non-Tobacco and Tobacco
Coverage Lengths: Age 90, 95, 100, 105, 110, 121
Min Coverage Amount: $25,000
Max Coverage Amount: $5,000,000
Issue Age Range: 20-75
Included Riders: Terminal Illness, No-Lapse Guarantee
Optional Policy Riders: Disability Benefit, Child Term Rider, Chronic Illness Care, Return of Premium
Perk of This Policy: Pacific Life offers as little as $25,000 of permanent coverage, making it an ideal option anyone needing final expense insurance.
The PL Promise GUL includes a terminal illness rider which allows the insured to access up to 75% of their policy's face amount if they become terminally ill. This free benefit, guaranteed level premiums, and available coverage amounts as low as $25,000, make this policy the best option for older clients that need to secure a small amount of coverage for their burial costs and final expenses.
3. American General (AIG)
Financial Ratings: A.M. Best (A), S&P (A+), Moody’s (A2), Fitch (A+), Comdex (82/100)
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.
4. Penn Mutual
Financial Ratings: A.M. Best (A+), S&P (A+), Moody’s (Aa3), Fitch (N/A), Comdex (93/100)
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.
5. Cincinnati Life
Financial Ratings: A.M. Best (A+), S&P (A+), Moody’s (A1), Fitch (A+), Comdex (89/100)
Policy Name: Lifesetter Flex UL
Rate Classes: Preferred Plus, Preferred, Standard; Non-Tobacco and Tobacco
Coverage Lengths: Age 121
Min Coverage Amount: $50,000
Max Coverage Amount: Over $10,000,000
Issue Age Range: 18-75
Optional Policy Riders: Accelerated Benefit Rider and Children's Term Rider
Perk of This Policy: Cincinnati Life offers as little as $50,000 of guaranteed universal life insurance making this policy an excellent alternative to expensive traditional whole life insurance.
6. United of Omaha
Financial Ratings: A.M. Best (A+), S&P (AA-), Moody’s (A1), Fitch (A+), Comdex (90/100)
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.
7. North American
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: 0-85
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.
8. Nationwide
Financial Ratings: A.M. Best (A+), S&P (A+), Moody’s (A1), Fitch (N/A), Comdex (90/100)
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.
Companies Not Included for 2023
Due to historically low interest rates, some top-rated providers recently discontinued their guaranteed universal life insurance policy offerings. These providers include; Prudential, Principal, Lincoln, Sagicor, and Symetra. With interest rates rising, we expect this trend to slow-down or stop, but the market can change at any time with little warning.
Please note: If you already have a policy from one of these carriers, your coverage will not be affected by these changes. Once your policy is active, the life insurance company cannot modify your insurance. To learn more, please see our article: The Potential End of Guaranteed Universal Life Insurance Due To Declining Interest Rates.
Questions? We Can Help!
Still not sure which company to go with for your guaranteed universal life policy? We can help! At JRC Insurance Group, our agents do not have sales quotas to meet. We're here to help you find the best life insurance company available by comparing rates and guidelines from 63 top-rated companies.
If you would like to receive an accurate quote, or need some help choosing the right type of coverage, please give us a call at 855-247-9555, or request a free quote below to compare rates from dozens of highly-rated insurance companies in less than a minute.
Clifford Pendell
Managing Partner and Co-founder
Cliff is a licensed life insurance agent and one of the owners of JRC Insurance Group. He has helped thousands of families of businesses with their life insurance needs since 2012 and specializes with applicants who are less than perfect health. In his spare time he enjoys spending time with family, traveling, and the great outdoors.
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I am interested in guaranteed universal life, want to know the premiums and coverage. i am female non smoker, 59 years old, still working, 112lbs, i was diagnosed of diabetes type 2 2 years ago, last A1c was 7 , 6 months ago, no other medical history.
Ms. Gonzales, Thank you for your inquiry. We're glad you've contacted us. JRC works with the carriers best at underwriting diabetes. We'll be glad to put together cost comparisons from A-rated carriers licensed for your state of residence. Call us at (855) 247-9555 and licensed agent will assist you and answer your questions. Best Regards, JRC Insurance Group