Looking for the Best Guaranteed Universal Life Insurance Companies? We looked at the all important factors in order to determine what is the best life insurance company for guaranteed universal life. The factors that we analyzed included a company’s financial ratings, coverage amounts, coverage length, issue ages and more.
Read more about how Guaranteed Universal Life policies work.
Best Guaranteed Universal Life Insurance Companies
Before we dive into the top companies, let’s first review what type of life insurance a guaranteed universal life policy actually is. No matter what type of coverage you’re shopping for there are always some life insurance advantages and disadvantages.
Guaranteed Universal Life, also referred to as GUL, it is a type of permanent life insurance that can provide coverage for your entire life. Guaranteed Universal Life (GUL) is a fully guaranteed life insurance policy.
GUL is not designed to be a cash accumulation policy like Whole life, traditional Universal Life insurance or other permanent policies. In short, a Guaranteed Universal Life policy has a guaranteed face amount and a guaranteed premium rate. Your rate will not change and will remain the same. It isn’t made for cash value.
Our Review of the Top Guaranteed Universal Life Insurance Companies
Guaranteed Universal life is the most affordable type of permanent life insurance. It is a great product for shoppers who want the best of both worlds of Term and Whole life. GUL is more affordable than Term Life and can provide true coverage like Whole Life.
Let’s look into the top Guaranteed Universal Life companies and see what each one offers.
The Top Guaranteed Universal Life Insurance Companies
AIG – American General Life Insurance Company
Policy Name: AG Secure Lifetime GUL III
American General AG Secure Lifetime GUL III features:
- Financial Ratings: A.M. Best (A). S&P (A+). Moody’s (A2). Fitch (A+)
- Minimum Face Amount: $100,000
- Maximum Face Amount: Over $10,000,000
- Coverage Lengths: Age 95, Age 100, Age 121
- Issue Ages: From ages 18 through 80 years old
Health Class Ratings: Preferred Best, Preferred, Standard Plus, Standard. Non Tobacco and Tobacco classes.
Additional Riders: Child Rider, Terminal Illness Rider, Accidental Death Rider, Waiver of Premium Rider, and Spouse Rider
Policy Advantages: In addition to the base policy guarantees, Secure Lifetime GUL 3 offers two ways you can receive significant guaranteed benefits while you’re still living! Imagine. You could be the beneficiary of your own policy.
- Accelerated Access Solution At any time during the life of your insurance policy, if you suffer a chronic illness qualifying condition, the Accelerated Access Solution rider will provide access to your tax-free death benefit through pre-determined monthly payments. This will occur either for as long as you’re ill or until the death benefit is exhausted. If you pass away, the remaining benefit will be paid out to your beneficiary.
- Lifestyle Income Solution There’s no question that Americans are living longer, and the new Lifestyle Income Solution rider may help you make those extra years more satisfying. Beginning at age 85, it enables you to translate your death benefit into a stream of supplemental income that you can use for any purpose. These payments are typically tax-free up to the amount of cumulative premiums. Once again, any remaining death benefit will be paid to your beneficiaries.
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ANICO – American National Life Insurance
Policy Name: Signature Guaranteed UL
ANICO Signature Guaranteed UL features:
- Financial Ratings: A.M. Best (A). S&P (A).
- Minimum Face Amount: $25,000
- Maximum Face Amount: Over $10,000,000
- Coverage Lengths: Age 95, Age 100, Age 105, Age 121
- Issue Ages: From ages 18 through 80 years old
Health Class Ratings: Preferred Best, Preferred, Standard Plus, Standard. Non Tobacco and Tobacco classes.
Additional Riders: Accelerated Death Benefit, Disability Waiver of Premium, Children’s Term Rider, and Signature Term Rider
Policy Advantages: Late Payment Forgiveness: The Signature Guaranteed UL policy provides you with a late premium payment forgiveness that allows your premiums to be paid u to 1 full month past the monthly deduction billing date without negatively affecting the policy lapse date. It can prevent the projected lapse date from decreasing due to late payments.
Looking for more American National reviews?
Banner Life Insurance Company
Policy Name: Life Step ULLife Step UL
Banner Life – Life Step UL features:
- Financial Ratings: A.M. Best (A+). S&P (AA-). Fitch (AA-)
- Minimum Face Amount: $50,000
- Maximum Face Amount: Over $10,000,000
- Coverage Lengths: Age 100, Age 121
- Issue Ages: From ages 20 through 85 years old
Health Class Ratings: Preferred Best, Preferred, Standard Plus, Standard. Non Tobacco and Tobacco classes.
Additional Riders: Accelerated Death Benefit Rider: The accelerated death benefit payment is payable in the event of a qualifying terminal illness. The maximum accelerated death benefit amount is the lesser of $500,000 or 75% of the policy’s primary death benefit, less any policy loan. The accelerated death benefit is treated as a lien, which accrues interest. Upon the death of the insured, the death benefits payable are reduced by the total accelerated death benefit lien.
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John Hancock
Policy Name: UL-G
John Hancock UL-G features:
- Financial Ratings: A.M. Best (A+). S&P (AA-). Moody’s (A1). Fitch (AA-)
- Minimum Face Amount: $100,000
- Maximum Face Amount: Over $10,000,000
- Coverage Lengths: Age 121
- Issue Ages: From Ages 3 months through 90 years old
Health Class Ratings: Preferred Best, Preferred, Standard Plus, Standard. Non Tobacco and Tobacco classes.
Additional Riders: Life insurance riders include; Long Term Care, Disability Payment of Specified Premium, Accelerated Death Benefit, Change of Life Insured
Policy Advantages: Death benefit guarantees through the Policy Protection rider that guarantees the policy will not default even if the ash value falls to zero or below.
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Lincoln Financial
Policy Name: LifeGuarantee UL
Lincoln Financial LifeGuarantee UL features:
- Financial Ratings: A.M. Best (A+). S&P (A+). Moody’s (AA2). Fitch (AA+)
- Minimum Face Amount: $100,000
- Maximum Face Amount: Over $10,000,000
- Coverage Lengths: Age 120
- Issue Ages: From ages 20 through 85 years old
Health Class Ratings: Preferred Best, Preferred, Standard Plus, Standard. Non Tobacco and Tobacco classes.
Additional Riders:
- ACCELERATED BENEFITS RIDER The Accelerated Benefits Rider pays out a portion of the death benefit if you were to fall terminally ill or require permanent nursing home care. It may be elected after policy issue. There is a one-time charge for this rider when it is exercised.
- ACCELERATED BENEFITS RIDER WITH CRITICAL ILLNESS The Accelerated Benefits Rider with Critical Illness pays out a portion of the death benefit if you were to fall terminally ill, require permanent nursing home care, or need help during a critical illness or condition. There is a one-time charge for this rider when it is exercised. Accelerated death benefits may be taxable and may affect public assistance eligibility. This rider is not available in Connecticut, Maryland and Pennsylvania.
- ACCIDENTAL DEATH BENEFIT RIDER The Accidental Death Benefit Rider, available at an additional cost, can help offset the financial burden by offering an additional amount in the event of a death due to an accident.
- CHILDREN’S TERM RIDER With the Children’s Term Rider, available at an additional cost, you have the choice of insuring your child under your own policy.
- DISABILITY WAIVER OF MONTHLY DEDUCTIONS BENEFIT RIDER The Disability Waiver of Monthly Deductions Benefit Rider, available at an additional cost, waives the monthly deduction and other charges if you become totally disabled.
- DISABILITY WAIVER OF SPECIFIED PREMIUM RIDER The Disability Waiver of Specified Premium Rider, available at an additional cost, covers you for a monthly specified premium if you become totally disabled.
- GUARANTEED INSURABILITY RIDER The Guaranteed Insurability Rider, available at an additional cost, gives you the ability to increase your death benefit coverage in the future without additional underwriting.
- LINCOLN LIFEENHANCE® ACCELERATED BENEFITS RIDER This rider pays a benefit if you were to become permanently chronically ill or are diagnosed as terminally ill (death to occur in 12 months or less). Benefits for chronic illness may be paid monthly or as a one-time lump sum. (Up to 100% of Death Benefit through payments). Terminal illness benefit is a lump sum (up to 50% of Death Benefit).
- THE MINIMUM DEATH BENEFIT ENDORSEMENT The Minimum Death Benefit Endorsement gives you the security of knowing that the beneficiaries will never receive less than the death benefit minus total policy debt (policy loan plus accrued interest) plus $5,000.
- SPOUSE TERM RIDER With the Spouse Term Rider, available at an additional cost, you have the choice of insuring your spouse under your own policy.
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Metlife
Policy Name: Provider Universal Life
MetLife Provider Universal Life features:
- Financial Ratings: A.M. Best (A+). S&P (AA-). Moody’s (Aa3). Fitch (AA-)
- Minimum Face Amount: $100,000
- Maximum Face Amount: Over $10,000,000
- Coverage Lengths: Age 95
- Issue Ages: From ages 45 through 65 years old
Health Class Ratings: Elite, Preferred, Standard. Non Tobacco and Tobacco classes.
Additional Riders: MetLife Provider UL has several optional riders that provide additional protection, such as the Waiver of Specified Premium Rider and the Acceleration of Death Benefit Rider. The Waiver of Specified Premium (WSP) Rider allows clients to select a specified monthly benefit to be credited as a monthly policy premium if the insured becomes disabled without interruption for at least six months as defined by the contract.4
Acceleration of Death Benefit Rider (ADBR)5 can help cover medical bills or any other expenses while the insured is living with a terminal illness. This rider provides the policy owner access to the greater of $250,000 or 10% of the eligible death benefit proceeds prior to the insured’s death.
Policy Advantages: The Coverage Continuation Benefit is a built-in policy feature that can guarantee the death benefit up to age 95. Premiums can be customized in both amount and duration, all while continuing this important death benefit guarantee.
For more, see our MetLife Insurance Company Review
Mutual of Omaha
Policy Name: Guaranteed Universal Life
Mutual of Omaha Guaranteed Universal Life features:
- Financial Ratings: A.M. Best (A+). S&P (A+). Moody’s (A1).
- Minimum Face Amount: $50,000
- Maximum Face Amount: Over $10,000,000
- Coverage Lengths: Age 90, Age 95, Age 100, Age 105, Age 120
- Issue Ages: From ages 18 through 85 years old
Health Class Ratings: Preferred Best, Preferred, Standard Plus, Standard. Non Tobacco and Tobacco classes.
Additional Riders:
- (Included in the Policy) Guaranteed Refund Option • Accelerated Death Benefit for Terminal and Chronic Illness Rider • Waiver of Surrender Charges for Partial Withdrawals Rider
- (Cost Policy Riders) • Disability Waiver of Policy Charges Rider • Disability Continuation of Planned Premium Rider • Accidental Death Benefit Rider • Dependent Children’s Rider • Guaranteed Insurability Rider
For more, read our:
Nationwide
Policy Name: YourLife No Lapse Guaranteed UL
Nationwide YourLife No Lapse Guaranteed UL features:
- Financial Ratings: A.M. Best (A+). S&P (A+). Moody’s (A1).
- Minimum Face Amount: $100,000
- Maximum Face Amount: Over $10,000,000
- Coverage Lengths: Age 100, Age 120
- Issue Ages: From ages 18 through 85 years old
Health Class Ratings: Preferred Best, Preferred, Standard. Non Tobacco and Tobacco classes.
Additional Riders: Accelerated Death Benefit Rider, Accidental Death Benefit Rider, Children’s Term Insurance Rider, Long Term Care Rider, Spouse Rider, Waiver of Monthly Deductions Rider
For more, see our:
North American
Policy Name: Custom Guarantee Gen 8
North American Custom Guarantee Gen 8 features:
- Financial Ratings: A.M. Best (A+). S&P (A+).
- Minimum Face Amount: $250,000
- Maximum Face Amount: Over $10,000,000
- Coverage Lengths: Age 85, Age 90, Age 95, Age 100, Age 105, Age 110, Age 120
- Issue Ages: From 0 through 80 years old
Health Class Ratings: Preferred Best, Preferred, Standard Plus, Standard. Non Tobacco and Tobacco classes.
Additional Riders: Accidental Death Benefit Rider • Children’s Term Insurance Rider • Guaranteed Insurability Rider • Waiver of Monthly Deductions Rider
For more, see our:
Penn Mutual
Policy Name: Guaranteed Protection Universal Life
Penn Mutual Guaranteed Protection Universal Life features:
- Financial Ratings: A.M. Best (A+). S&P (A+). Moody’s (Aa3). Fitch (A+)
- Minimum Face Amount: $100,000
- Maximum Face Amount: Over $10,000,000
- Coverage Lengths: Age 121
- Issue Ages: Up age 0 to 85 years old
Health Class Ratings: Preferred Best, Preferred, Standard Plus, Standard. Non Tobacco and Tobacco classes.
Additional Riders: Chronic Illness Rider, Accidental Death Rider, Bisability Benefit Rider, Child Term Rider, Accelerated Death Benefit Rider, Additional Insured Term Rider, Guaranteed Increase Option Rider.
Policy Advantages: Lifetime coverage: Penn Mutual’s GUL provides and affordable option for lifetime protection. Flexibility: Penn Mutual’s GUL premiums provide you the option of payment flexibility. Benefits: You get an accelerated death benefit rider included at no extra cost.
TARGET MARKETS; Whole Life insurance, wealth accumulation.
For more, see our
Principal Life
Policy Name: Universal Life Protector IV
Principal Life Universal Protector IV features:
- Financial Ratings: A.M. Best (A+). S&P (A+). Moody’s (A1). Fitch (AA-)
- Minimum Face Amount: $50,000
- Maximum Face Amount: Over $10,000,000
- Coverage Lengths: Age 90, Age 95, Age 100, Age 105, Age 121
- Issue Ages: Up age 0 to 85 years old
Health Class Ratings: Preferred Best, Preferred, Standard Plus, Standard. Non Tobacco and Tobacco classes.
Additional Riders: Accelerated Benefits • Children Terms Insurance • Cost of Living Increase • Extended Coverage • Salary Increase • Waiver of Monthly Policy Charge
Policy Advantages: Principal Accelerated Underwriting that offers a great option for Super Preferred and Preferred clients up to age 60 to get $1 million of coverage in as little as two days
TARGET MARKETS; Ages 55-70 • $1 million or greater face amount • Coverage of at least 15 years
For more, see our Principal Life Insurance Company Review
Protective
Policy Name: Custom Choice UL
Protective Custom Choice UL features:
- Financial Ratings: A.M. Best (A+). S&P (AA-). Moody’s (A2). Fitch (A+)
- Minimum Face Amount: $100,000
- Maximum Face Amount: Over $10,000,000
- Coverage Lengths: Age 90, Age 95, Age 100, Age 105, Age 110, Age 121
- Issue Ages: From ages 18 through 85 years old
Health Class Ratings: Preferred Best, Preferred, Standard. Non Tobacco and Tobacco classes.
Additional Riders: Accidental Death Benefit Rider • Children’s Term Insurance Rider • Disability Benefit Rider • ExtendedCare Rider
Policy Advantages: Income Provider Option: A no cost option that gives you the ability to choose a guaranteed monthly or annual income stream of up to thirty years for the death benefit payout. It can also provide potentially lower premiums on your policy.
For more, see our:
Prudential Life
Policy Name: PruLife Universal Protector
PruLife Universal Protector features:
- Financial Ratings: A.M. Best (A+). S&P (AA-). Moody’s (A1). Fitch (A+)
- Minimum Face Amount: $50,000
- Maximum Face Amount: Over $10,000,000
- Coverage Lengths: Age 100, Age 121
- Issue Ages: From ages 0 through 85 years old
Health Class Ratings: Preferred Best, Preferred, Standard Plus, Standard. Non Tobacco and Tobacco classes.
Optional Benefits and Riders: Living Needs Benefit, Children Level Term Rider, Accidental Death Benefit, Enhanced Disability Benefit, BenefitAccess Rider
For more, see our Prudential Life Insurance Company Review
Sagicor
Policy Name: Sage No Lapse Universal Life Insurance
Sagicor Sage No Lapse Universal Life Insurance features:
- Financial Ratings: A.M. Best (A-).
- Minimum Face Amount: $25,000
- Maximum Face Amount: Over $10,000,000
- Coverage Lengths: Age 121
- Issue Ages: From ages 0 through 85 years old
Health Class Ratings: Preferred, Standard Plus, Standard. Non Tobacco and Tobacco classes.
Additional Riders: Children’s Term Rider, Accelerated Benefit Insurance Rider, Accidental Death Benefit Rider, Waiver of monthly Deductions Rider
For more, read our:
Symetra
Policy Name: Symetra UL-G
Symetra UL-G features:
- Financial Ratings: A.M. Best (A). S&P (A). Moody’s (A3). Fitch (A)
- Minimum Face Amount: $100,000
- Maximum Face Amount: Over $10,000,000
- Coverage Lengths: Age 100, 105, Age 121
- Issue Ages: From ages 16 through 85 years old
Health Class Ratings: Preferred Plus, Preferred, Standard Plus, Standard. Non Tobacco and Tobacco classes.
Additional Riders: Chronic Illness Plus Rider, Charitable Giving Benefit, Additional Term Rider, Accidental Death Benefit Rider
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Get Guaranteed Universal Life Quotes Instantly
We’re going to walk you through how to get instant Guaranteed Universal Life insurance quotes right from our website.
Let’s look at how you can quickly run instant & accurate GUL quotes step by step:
- STEP 1: Use our “Instant Quotes” insurance quoter on the side of this guide.
- STEP 2: Complete the requested fields with your specific details. Under “Term Period” you will want to select “Lifetime” from the dropdown selections.
- STEP 3: Click on “Get Quotes” once you’ve completed the above steps and your quotes will be populated. Results will vary depending on your age, benefit amount and state.
If you need a little more just reach out to us. We can walk you through the entire process and find out your appropriate health class rating so you’re comparing accurate quotes.
About LIB
We’re here to help you get the coverage you need to protect your loved ones and future. We have access to over 60 carriers to make sure you’re getting the best deal possible. That means we shop not only for GUL, Whole Life and Final Expense, but also from the best term life insurance companies too. We have them all!
Every company will look at your health and other underwriting criteria. Things you may not be aware of. That’s why it so important to work with an independent agent like LIB. We’re independent which means we don’t recommend any specific company – We just find the ones that will give you the best rate.
If you’d like to learn more about today’s topic, check out our posts about pension maximization, Term vs Guaranteed Universal Life and advantages and disadvantages of universal life insurance.
Have questions? Contact us today at or run a free quote using our insurance calculator. We look forward to helping you!
