With continued low interest rates and muted client engagement in 2020, the Guaranteed Universal Life Insurance (GUL) space has become smaller and more competitive due to a few things.
- Premium rates
- Process enhancement
- Sometimes both
We have taken a cross-section of the GUL insurance landscape to see which of the top GUL companies are in the space as it relates to premium. Premium is many times the primary driver insurance agents and advisors are looking for when requesting life insurance quotes.
Top 5 GUL Companies for 50 Year Old Male
Here are the top 5 companies for a 50 year old male preferred non-tobacco
- American National
- Sagicor
- Protective Life
- Nationwide
- PacLife Promise
This specifically only references GUL quotes that are guaranteed to 121 and without riders, so make sure your requesting or running your GUL quotes correctly before presenting to your clients. If you have questions on GUL, you can always reach out to our team here.
GUL Comparison Chart for 50 Year Old Male
For this example I used a 50 year old male that is preferred non-tobacco in the state of Colorado.
FREE Non-Med Life Insurance Cheat Sheet
Top 5 GUL Companies for 60 Year Old Male
- American National
- Protective Life
- Nationwide
- Sagicor
- PacLife Promise
GUL Comparison Chart for 60 Year Old Male
Here is the snap shot of GUL insurance comparison rates for a 60 year old male looking for $500,000 in death benefit.
You’ll notice the the top 5 GUL companies in both scenarios above are the same, but the carriers are in different orders. This is a perfect example of why you should always run comparisons to make sure you’re serving your clients correctly.
Conclusion
It’s a great time to be using GUL with your clients. Clients needs haven’t changed, but the landscape has and you should be prepared to help them navigate those changes.
Below are some take away tips to help you continue to provide competitive life insurance solutions to your clients and prospects.
- Always conduct a fact finder.
- Take a few minutes and compare the solutions you have to offer vs. defaulting to one carrier.
- Use market and carrier statistics to your advantage.
- Always review a comparison before presenting to your clients. You can get full access to our quote engine here.
Separating yourself from the pack is easy when you always put your customer first, and one of the best ways to put your customer first is to commit to being a life insurance expert.
If you’re committed to that and have a methodical process to pass your level of education and certainty in a way your clients can understand, you’ll win every time!
