In the past few years, insurance companies have ocme up with new variations on permanent insurance coverage.  The original way to guarantee coverage for one's entire life was to buy Whole Life Insurance or a Universal Life Insurance policy with the payment high enough to guarantee coverage, usually the same as whole life.

The new concept takes low Universal Life premiums and guaranteed the coverage, even when there is no cash in the policy.  This type of plan is called Guaranteed Universal Life insurance, or as I like to call it "Term to 120".  Term insurance has alway been set up to last a certain number of years, such as 10 or 20 years.  This low type of coverage was designed to over the coverage, at a low cost, for the time frame one needed it most.  But many people were interested in a permanent term policy.  The only way to guarantee that coverage was to buy Whole Life or Universal Life premiums.

Guaranteed Universal Life, or Term to 120, is now the low cost way to buy insurance for your lifetime.  For example, a plan for a male age 40 would cost $939 for $100,000 of GUL coverage.  A male age 65 would cost $3,623 per year.  Many of these policies will accumulate a temporary cash reserve which peaks around the 20th year of the policy.  If the insured wishes to cancel the policy, they may get some of their premiums back in the form of the cash value.

Who should bu these plans?  If you have a committment that continues in your later years or you need to guarantee the financial security of your family forever, then Term to 120 may be your best alternative.  Call (800) 777-5765 for a free quote or email This e-mail address is being protected from spambots. You need JavaScript enabled to view it .