Guaranteed Universal Life, GUL, for life insurance coverage is a great low cost alternative to Whole Life with fixed rates and coverage available to age 120 and beyond.
Looking over quotes for a client in his early 50’s, I found American General’s new Guaranteed UL, called “AG Secure Lifetime GUL II” has very competitive low rates. Doing my latest revisions this week on permanent life sample quotes for 54 years old, 55 years old and 56 years old, American General has the lowest rates for female preferred best for $500k, $1m and $2m, and for male at preferred best $500k. That is not a complete survey, it does not include for example the preferred rate classification, or age rates for those in their 60’s and 70’s, but it is an indicator that American General is now very competitive for certain face amounts and rate classifications and should be part of any comparison for permanent life insurance, no-lapse guaranteed Universal Life. This product also builds guaranteed cash value and has a option surrender the policy after 20 years and with a guarantee to receive back 50% of the premiums paid.
