North American Guaranteed Universal Life Reviews

North American Guaranteed Universal Life Reviews

North American Guaranteed Universal Life Insurance Reviews

North American is one of the top life insurance companies available today. Are they the right company for you?  We hope to answer that question by putting together our North American Guaranteed Universal Life Insurance Reviews so you can make an informed choice. 

North American’s GUL product is called the Custom Guarantee UL and it is North American’s main GUL product that we’ll be reviewing. This post is just one GUL review. We have a huge series of reviews for the top companies that sell guaranteed universal life insurance.  To learn more about GUL products (also known as Term to 100 or Lifetime Term) please read an overview of GUL here.

What company is the best?

Are you just looking for the best Guaranteed Universal Life insurance companies? We reviewed the top rated GUL companies right here.

North American Life Insurance Company

Financial Strength
Review Summary

Did you know that North American has over $16 billion in assets? They also have over $105 billion life insurance policies in force. With these assets and in force business, North American is one of the top life insurance companies offering GUL.

North American Life Insurance Company

North American Overview

North American Life Insurance Company for Life and Health is privately owned. Commonly referred to as North American, they invest in assets that are typically more secure compared to their competition. North American Company invests securely, such as with U.S. Savings Bonds. North American got their start in 1886; they are a top company with a lengthy and solid history in the life insurance business. 

North American Financial Strength

Financial Strength Ratings

  • AM Best: A+
  • Moody's: N/A
  • Standard & Poor's: A+
  • Fitch: A+

How to choose? If you’re comparing companies & looking to choose from two carriers, one rated A+ and one rated A++, either one is likely to be there when you need it. However, if you’re picking carriers that are rated B+ and A+, financial strength could factor in your buying decision. Try to avoid companies that 1 or more financial agencies rate as potentially vulnerable.

Guaranteed Universal Life (GUL) is a type of universal life insurance- but doesn’t have the market risks of UL.

Your premiums remain the same with GUL just like term life. With a GUL, you get coverage with a “no-lapse” guarantee. This means that if you pay your insurance premiums, you’ll always be covered. GUL is not made for cash value and it resembles and functions similarly to term life insurance. Term life insurance only covers you for a set number of years. GUL covers you to a specific age such as: Age 90, 95, 100, 110, or 121.

North American GUL Products

North American offers life insurance shoppers lifetime coverage with their guaranteed universal life insurance product called: Custom Guarantee UL

North American Custom Guarantee UL Overview: 

Issue Ages

Ages 0-80

Minimum Benefit Amount


Coverage Lengths

Ages 85, 90, 95, 100, and 121

Maximum Benefit Amount

Over $10,000,000

>>Read more about getting coverage to specific ages like:

Health Class Ratings

Life insurance classifications are important because they affect your premium. The better your health class rating, the lower your premium will be with. All companies (including North American) classify you differently.

These are the health classes that are offered with North American:

  • Preferred Best
  • Preferred
  • Standard Plus
  • Standard
  • Substandard
  • Non Tobacco & Tobacco

Make sure to use an independent life insurance agent that can shop from all the top life insurance companies. They will be able to provide you unbiased recommendations based on your specific health, age, and needs.

Life insurance rates depend on many factors. The life insurance company you choose is a major factor because each company rates you differently. Someone with diabetes may qualify for different rates depending on each company they apply with.

Learn more about life insurance shopping.

Sample Life Insurance Rates

Now let’s look at how much the North American Custom Guarantee UL can cost. Below are some sample monthly rates for a healthy non smoking 46 year old man.

Death BenefitTo Age 95To Age 100To Age 120

>>Life Insurance Quotes: Get instant life insurance quotes based on your specific age and coverage needs here and compare rates from the top life insurance companies.


  • Benefits
  • Ages: North American offers their GUL to age 85. This is a great option as most companies don’t offer an age 85 GUL.
  • Speed: WriteAway Accelerated Underwriting is North American’s automated accelerated underwriting program. Under this program, eligible applicants under the age of 50 may be approved in 48-72 hours or less!


  • One of Many

North American is just one of many life insurance companies in the market. They don’t offer every option and they aren’t always priced the best. Depending on your health and age- another carrier may give you a better deal.

Life insurance underwriting is the process of a company looking at the level of risk you present to the insurer. Once they can determine your risk level- they can decide the cost of the premium for you. This is similar to how a car insurance company will ask you if you have had any previous moving violations, accidents, DUI or license suspensions before providing you your final rate.

Learn more: Underwriting

Underwriting Information

Not all life insurance companies will look at you the same. North American and every other company has their own underwriting guidelines. Here are North American’s underwriting strengths and weaknesses:


These conditions typically get a better rating compared to the competition:

  • Cholesterol: Shoppers may qualify for best rate classes with Cholesterol levels up to 300.
  • Blood Pressure: Shoppers with Blood pressure treatment might be able to qualify for the best rate class.


These conditions may get a better rating with another carrier:

  • Cigarette Smokers

Life Insurance Riders

Let’s look at what life insurance riders are available with the North American guaranteed universal life insurance policy.

  • Terminal Illness Rider
  • Critical Illness Rider
  • Cronic Illness Rider
  • Accidental Death Rider
  • Waiver of Monthly Deduction Rider
  • Guaranteed Insurability Rider
  • Spouse Rider
  • Accelerated Death Benefit

Life insurance riders are some additional benefits that can be added to a life insurance policy. Some riders are included for free and some are an additional cost. These riders provide you the ability to increase or limit the insurance coverage of your policy. Not all companies offer every rider.

Learn more: Life Insurance Riders

How to buy the best Guaranteed Universal Life policy?

We cannot stress enough the importance of using an independent life insurance agent to help you choose the right GUL product at the most affordable price possible. 

Independent life insurance agents have access to multiple companies. We know which life insurers offer the best rates when it comes to buying guaranteed universal life insurance.

We hope this article gives you a good overview of guaranteed universal life insurance. GUL policies are a great solution for many shoppers that can provide protection for your loved ones.

About Life Insurance Blog

Life Insurance Blog is an impartial life insurance broker who represents dozens of life insurance companies. We help our customers pick the best life insurance carrier and options that’s right for them. We do not push any companies because we have access to all the top life insurance companies. We don’t try to put shoppers into a plan that is not suitable for their goals and needs. Our number one concern is our clients and future policyholders.

We offer you free life insurance consultations and work with you to understand your goals and then help you with an appropriate recommendation.  So, what are you waiting for?  Contact us today or visit our Life Insurance Quotes page and see how we can help you!

Michael Quinn
Michael is a licensed life insurance agent, expert & owner of Life Insurance Blog. LIB has helped thousands of shoppers understand life insurance and secure affordable coverage.

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