Skip to main content
Securian Financial Home

Group universal life insurance

Group life insurance that builds cash value

Group universal life insurance (GUL) provides employees with permanent1 life insurance protection and the potential for tax-deferred cash accumulation with a fixed rate of return. 

Why offer this type of insurance?

Securian’s group universal life insurance policies are customizable to the employer, allowing the selection of features like:

  • Guaranteed coverage
  • Waiver of premium for disabled employees
  • Continuation options, including portability and conversion
  • Employees can continue their GUL coverage when they change jobs or retire 

How does this benefit work?

GUL is a type of permanent life insurance that features a savings component. Employees may choose to pay only the cost of insurance or to make additional contributions to a cash value account that can be accessed through loans or withdrawals.2

These additional dollars are allocated to a guaranteed account, which earns a minimum fixed interest rate for cash value growth.3 GUL provides flexible premium payments and reliable cash value growth tied to a fixed interest rate, offering stable growth over time. 

Built up cash value can be withdrawn at any time — at any age — generally without tax penalties.4

Employees can start, change or stop additional premiums at any time without charge.5,6 Additional contributions can be made through the convenience of payroll deduction or in lump sums.


Pay for the cost of insurance


Make additional contributions into a cash value account


Build cash value in a Guaranteed Account3. During your lifetime, access this account through loans and withdrawals


At your death, your loved ones are paid a death benefit and, if applicable, any cash value accumulation

What does the policy cover?

GUL provides a death benefit plus an optional cash accumulation account.

Additional features

Employers can choose to offer living benefits, including:

  • Portable coverage that allows employees to continue coverage when they change jobs or retire
  • Accelerated benefit to employees upon diagnosis of a terminal illness
  • Waiver of premium if an employee becomes totally disabled

Take the next step

Learn more about offering GUL insurance from Securian. 

Contact sales today

1. Subject to a maximum age, which varies by policy.

2. Loans and withdrawals will reduce both the policy cash value and death benefit.

3. The guarantees for the Guaranteed Account are based on the financial strength and claims-paying ability of Minnesota Life Insurance Company or Securian Life Insurance Company, a New York authorized insurer.

4. Benefits may vary by plan.

5. Typically, earnings are not taxed on the money accumulated until the money withdrawn exceeds the premiums that have been contributed to the policy.

6. Policy loans and withdrawals may create an adverse tax result in the event of a lapse or policy surrender, and will reduce both the cash value and death benefit. 

Benefits may vary by plan. 

This product is offered under policy form series 00-30252 (ML), 14-32100 (SL), or a state variation thereof. 

This information is a general discussion of the relevant federal tax laws provided to promote ideas that may benefit a taxpayer. It is not intended for, nor can it be used by, any taxpayer for the purpose of avoiding federal tax penalties. Taxpayers should seek the advice of their own advisors regarding any tax and legal issues specific to their situation. 

DOFU 2-2024