Gul

Discussion in 'Life Insurance Forum' started by agentjhc, Jan 5, 2014.

  1. agentjhc
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    agentjhc Well-Known Member

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    I have a couple that is considering GUL. I have not sold this product . Rates are very good for young and healthy (this couple should be preferred). I know some of you all sell a good bit of this, what are the pros and cons?
     
    Last edited: Jan 5, 2014
  2. WinoBlues
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    WinoBlues Well-Known Member

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    [quoteTE=agentjhc;789860]I have a couple that is considering GUL. I have not sold this product . Rates are very good for young and healthy (this couple should be preferred). I know some of you all sell a good bit of this, what are the pros and cons?[/quote]

    On a permanent death benefit need the most bang for your buck. IMHO
     
  3. nylife11023
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    nylife11023 Well-Known Member

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    GUL is really "perm term" and for those who believe in the "buy term, invest the rest" GUL makes 'sense' to them.

    While whole life is a better value, many young people just can't afford a large policy. Often a 'blended' plan of term (or GUL) and WL works well for young people.
     
  4. ims01
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    ims01 Well-Known Member

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    You need to determine if cheap DB or accumulation is most important to them. We like GUL when the client is looking for cheap death benefit. For accumulation, it would be best to use UL or IUL, if they are going to over fund. Sagicor has a great GUL.
     
  5. mustfastpitch
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    mustfastpitch Well-Known Member

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    Sagicor just ditched their GUL. They now have a No Lapse UL with a 5 year basic no lapse guaranty and an extended no lapse for 5+. North American has a GUL.
     
  6. WinoBlues
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    WinoBlues Well-Known Member

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    Which state?.............
     
  7. westcoast
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    westcoast Well-Known Member

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    Oops, this thread illustrates why going with whoever touts the best rate on a ul may not be your best bet. Kind of like buying your dream car and then they ditch the body style. Loan rates, whacky assumptions on illustrations, etc. oh yeah, IMHO
     
  8. Newby
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    Newby Well-Known Member

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    The Buy term invest the difference crowd don't usually want GUL or anything permanent. They want term. They plan to be rich at the end of the term. That's how that works.

    The people that don't buy into that sort of thinking are the GUL buyers.
     
  9. TwiLight
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    TwiLight Well-Known Member

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    I believe the correct saying is: Buy Term and Spend the Difference. :biggrin::biggrin:
     
  10. mustfastpitch
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    mustfastpitch Well-Known Member

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    All states. Didn't you get the memo? ha
     

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