Guaranteed Variable Universal Life by design can develop cash accumulation value, and borrowing is possible but discouraged. Removing account values through withdrawals or loans could seriously jeopardize the no-lapse feature and cause the policy to lapse. If your primary goal is to access to cash value, this product is probably not for you. However, if you want a guaranteed premium, guaranteed death benefit, some cash accumulation at a lower premium outlay than whole life, consider the GVUL.

What makes Guaranteed Variable Universal Life unique is the no-lapse feature that keeps the coverage in place for as long as the policy owner desires. However, the no-lapse guarantee is dependent on premium timing. The premiums must be paid on time, or the death benefit guarantee may be reduced or lost.

Guaranteed Variable Universal Life by design can accumulate cash value, and it’s unique characteristics make borrowing almost tricky in most circumstances. Removing account values through withdrawals or loans could seriously jeopardize the no-lapse feature and cause the policy to lapse. 

Guaranteed Variable Universal Life is considered a security and is regulated by the state of issuance and FINRA.

Some optional provisions, commonly referred to as riders, can be added to a guaranteed universal life policy, generally through payment of an additional premium. Riders can be extremely useful in tailoring the coverage to meet your specific needs. Some common Guaranteed Universal Life Riders are;

Basic & Ofter Free Accelerated death benefits: An accelerated death benefits provision allows for payment of part of a policy’s death benefit while an insured is still alive. Such benefits are typically payable when the insured develops a medical condition expected to lead to death within a short period.

Long-Term Care or Chronic Illness Rider: This optional and very popular rider is usually available at issue only. It can provide monthly benefit payments for the reimbursement of expenses from Qualified Long-Term Care Services if the insured meets the Eligibility requirements. Benefits are provided through the acceleration of the policy’s death benefit. Learn More About Lon-Term Care & Chronic Illness Riders.

The Disability Waiver of Monthly Deductions Benefit Rider: The rider is available at an additional cost, waives the cost of insurance, monthly expense charges, and rider charges if the insured becomes disabled. 

Accidental death: Pays the beneficiaries double (in some situations triple) the policy’s face if the insured dies in an accident.

Spousal or family term insurance: Allows a policy owner to purchase term insurance on a spouse or children.

Return of Premium Rider: A return of premium rider increases the death benefit by the amount of premium paid. It can be useful in specific advanced planning applications