Product Highlights:
GUL Survivor is a Guaranteed Universal Life product that allows couples to protect their estate from possible devastating taxable consequences.
Features
- Age last birthday
- No-lapse guarantee death benefit
- Split Option Provision
Additional rider available for purchase (subject to state approval)
Four-Year Level Term Insurance rider
Interest Rate - A minimum interest rate of 3 percent is guaranteed
Death Benefit Option -
Option 1 - Level Death Benefit
Option 2-Return of Premium(ROP)
Maturity Age: Age 120 of the youngest insured
No-Lapse Guaranteed Death Benefit Protection:
- Short-Term No-Lapse Protection Period: Minimum premium guarantees policy for 20 years
- Lifetime No-Lapse Protection Period: Lifetime premium guarantees policy to the youngest insured's age 120
No-Lapse Guarantee Premium Catch-Up - Catch-Up: Unlimited catch-up ability in policy years 1-20, 90 days in years 21+.
Premiums - Premiums will not be collected at time of application. They will be collected once the policy is approved. Once the premium is received, the policy will be issued and put in force
Partial Withdrawals - Partial withdrawals are available after the first policy anniversary and carry a $100 handling fee
Loans - Policy loans may be made at any time after policy year 1 (Indiana allows loans in year 1). If a policy loan is made, the death benefit will be reduced by the amount of the loan
Five Good Reasons to Sell Guaranteed Universal Life Survivor
- Covers estate settlement costs when they are typically the highest after the second death
- Safeguards assets for the surviving heirs by allowing the estate plan to operate as it was intended
- Ensures special needs dependents will have financial resources available to provide for their care after both parents pass away
- Provides for Business needs after the death of the second owner or key employee
- Preserves charitable gifts efficiently and economically without impacting the estate plan