Life insurance products
Universal life and guaranteed universal life (GUL) in NJ
Universal life (UL) is permanent coverage with flexible premiums and a cash value credited with interest; how long it lasts depends on how it is funded.
Guaranteed universal life (GUL) is designed for a guaranteed death benefit to a chosen age, often 90 to 121, at a lower premium than whole life, with little focus on cash value.
Who it’s for
- People who want lifetime coverage at a lower premium than whole life (GUL)
- Estate and business planning that needs a death benefit for life more than cash value
- Owners of older UL policies whose statements show the policy may lapse
How universal life works
Premiums go into the policy’s account; the insurer deducts the cost of insurance and fees and credits interest. If the account runs too low, the policy can lapse unless more premium is paid.
A GUL uses a no-lapse guarantee: if the required premiums are paid on schedule, the death benefit is guaranteed to the stated age even if the account value is low. Paying late or less than required can weaken that guarantee.
What to check in an illustration
- The age to which the death benefit is guaranteed, and the premium that guarantee requires
- Guaranteed vs. non-guaranteed columns
- How a skipped or late premium affects the guarantee
Our 5-step process
How we place universal life & guaranteed UL in NJ
You start here
Life Planning Review
Start a Life Planning Review with your goal and, if you own an older UL policy, its latest statement.
What we need
- The purpose of the coverage and the age to which it must last
- Latest statements and any lapse notices for existing UL policies
- Who will own the policy (you, a trust, a business) and the beneficiaries
- Preferred premium pattern (level, single-pay, limited pay)
- Date of birth
- Health details are never collected through the website; anything medical is discussed privately after you start.
- 2
Coverage design
Kevin designs the guarantee age and premium pattern, compares carriers’ guarantee terms and, for existing policies, requests in-force illustrations.
- 3
Application & underwriting
You apply with the selected carrier; most permanent amounts include a paramedical exam and records, and larger amounts include financial documentation.
- 4
Offer review
You review the approved class and the illustration, especially the guaranteed death benefit age and the premium required to keep it.
- 5
Policy delivery & setup
You sign delivery forms, set up on-time payments (which protect the guarantee), and confirm owner and beneficiaries.
Mistakes that cost people later
- × Underfunding a current-assumption UL and discovering a lapse decades later
- × Paying a GUL premium late and weakening the no-lapse guarantee
- × Expecting meaningful cash value from a GUL designed for the death benefit
- × Never requesting an in-force illustration on an older UL policy
Questions people ask
What is the difference between UL and GUL?+
Traditional UL depends on interest credits and funding to stay in force. GUL is designed around a no-lapse guarantee to a stated age if the required premiums are paid on time.
Why is my old universal life policy lapsing?+
Often because credited rates fell below what was illustrated and the cost of insurance rose with age. Our universal life policy review page explains the options.
Is GUL cheaper than whole life?+
For the same lifetime death benefit, GUL premiums are often lower because the policy is not designed to build significant cash value.
Can a trust own a GUL policy?+
Yes. Trust-owned policies are common in estate planning; your attorney should set up the trust before the policy is issued.
Start a Life Planning Review
Tell Kevin what you need the coverage to accomplish. It takes a few minutes, there are no health questions online, and existing policies and documents are reviewed through a secure process.
Start a Life Planning ReviewRelated planning topics
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Kevin Brown, licensed New Jersey insurance producer (#3003694894)
Kevin Brown Insurance Agency, South Plainfield, NJ. You work with Kevin directly on every life case. Updated November 2026.
Coverage, policy features, premiums and underwriting requirements depend on the insurer, product, applicant and state availability. Approval is not guaranteed. Illustrations are not promises of future performance. Kevin Brown Insurance Agency does not provide medical, legal or tax advice. Consult your attorney or CPA about your circumstances.