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 group universal life 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 group universal life insurance works
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Built up cash value can be withdrawn at any time – at any age – generally without tax penalties.4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.