Group Universal Life insurance
Exploring possibilities

Group Universal Life combines the advantages of individual life insurance policies with those of group insurance. Its portability and cash accumulation features fit individual needs, while offering the advantages of group insurance:

• simplified underwriting
• easy administration
• affordable cost

Features

• Insurance protection
• Cash value account provides tax-deferred cash accumulation
• Two methods for structuring the death benefit
• Dependent coverage available

• Enhance employee benefits program while managing expenses.
• Attract and retain high-caliber employees.

Employees enjoy:

• Portability
  If they leave the group or retire, employees may take their coverage with them.
• Tax-deferred cash accumulation
  Group Universal Life's cash value account provides employees the ability to accumulate cash for future needs on a tax-deferred basis. This cash value account earns interest yet is accessible through loans and withdrawals.
• Group rates
  The buying power of a group makes this comprehensive coverage affordable.

Is this product right for your group?
Group Universal Life insurance gives you the ability to customize a program to meet benefit needs exclusive to an organization. For example, Group Universal Life can be used to:

Supplement a basic, employer-paid term life plan
Group Universal Life is portable insurance protection that — unlike term life plans — won't reduce or terminate at retirement. Plus, it allows employees to accumulate tax-deferred cash value that earns a competitive rate of interest.

Enhance the coverage of your supplemental employee-paid term life plan
Here's an economical way to increase the value of your life insurance plan without adding expense because employees pay the full cost of insurance through the convenience of payroll deduction.

Provide a bonus plan to key employees
Group Universal Life is an easy way to reward your partners, executives or top management with portable life insurance paid by the company during their working years. If employees choose to contribute to the cash value account, their money grows tax-deferred, which can be a significant incentive for highly paid individuals. Upon retirement, employees can choose to continue the plan.

Provide post retirement insurance
Employees can use Group Universal Life to start funding post-retirement insurance needs during their working years. The more cash that accumulates in their cash value account, the more options they will have available at retirement.

Provide a corporate-owned life insurance plan that funds future liabilities
A corporation can own life insurance on its employees and use the accumulated cash value to fund future liabilities.

• Create an executive carve-out program. Group Universal Life can be simultaneously offered as a bonus to certain employees and as supplemental life insurance to others.

» Is GUL/VGUL right for you? (pdf, 69k)
» Evaluating Group Universal Life insurance (pdf, 208k)
» Group Universal Life flyer (pdf, 76k)

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