Guaranteed Universal Life
Guaranteed Universal Life insurance has fixed premiums for a specified time frame or an entire lifetime. The specified time frames can have guaranteed death benefits to age 90, 95, 100, 115, 121, or any date in between. Guaranteed Universal life although it can build cash value is designed to keep the premiums level, not for withdrawal. This coverage is the least expensive permanent insurance option.
Guaranteed Universal Life insurance plans can have living benefits that allow you to accelerate (use) a portion of the death benefit while you are still living for things like Cancer, stroke, and heart attack. These policies are not limited to those three illnesses and cover as many as 16 others depending upon the insurance carrier. This gives you the ability to take care of things such as medical bills, mortgage payments, etc. Living Benefits are a great addition to any plan.