What is Group Universal Life Insurance?Group Universal Life Insurance (GUL) is a type of life insurance coverage that is available to a group of people, such as workers of a corporation or members of an organization. The company or group pays the premiums, and the insurance provides a specified level of coverage. GUL plans offer premium payment and death benefit flexibility, as well as the possibility of accumulating cash value that may be used to pay premiums or borrowed against.
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