A guaranteed universal life policy brings out a benefit and premium payments that may not change over time. You choose an age at which the policy ends. Having a better age will increase the premium, and a guaranteed universal life insurance usually has little or no cash value.
Due to this, it’s the most cost effective and reasonably universal life insurance you'll buy. In this, you are paying for lifelong coverage. GUL is typically brought up because the no lapse guarantees universal insurance. This is often to handle recent problems where traditional, non-guaranteed universal life assurance policies lapsed since the cash value may not cover the policy’s expenses and therefore the cost of insurance. An Index Universal Life Insurance Wilmington is another option for you.