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Universal Life Insurance

Families are unique and their life insurance needs are unique. This is where a universal life insurance product can help.

Flexible coverage for income protection and retirement planning

Universal life (UL) insurance from GPM Life is permanent coverage, designed to last your entire life. Unlike term insurance, it won't expire after a certain period of time as long as required premiums are paid.

Permanent insurance like universal life offers benefits that term insurance does not:

  • Accumulates cash value over time that you may be able to borrow against tax-free, for any reason
  • Offers permanent coverage that will not increase in cost as you get older
  • Provides a benefit that will be there when you're loved ones are likely to need it most
  • As with all permanent insurance, the interest that you have earned over time accumulates tax-deferred
  • Cash value can be accessed for income in retirement

Universal life policies also offer some flexibility that whole life policies do not offer:

  • Universal life insurance can offer the ability to increase or decrease your death benefits
  • UL premiums can be flexible
  • UL is generally more affordable than other permanent life insurance

We also offer several ways you can extend your universal life coverage with supplemental benefits and riders. Riders can be used to combine lower cost term coverage with permanent life insurance to get the coverage you need at an affordable premium. Riders can also offer a way to protect your spouse or have mortgage protection at the times when you need the most coverage. This will allow you to keep some permanent insurance for the future.

We can help you build the right policy for your specific needs.

How much life insurance do you need?

Use our calculator to estimate how much life insurance coverage you need to protect your family.

Understanding Universal Life

Fits these needs:

Universal Life can offer a more affordable option for permanent life insurance with more flexibility. UL insurance accumulates cash value over time.

What to consider:

UL can be more flexible and affordable than Whole Life insurance, and it offers permanent coverage that you cannot get with Term Insurance.


The UL policy, without riders, may meet your specific needs. However, we offer a number of riders and supplemental benefits that add flexibility and extend coverage options.

We can design a policy that meets your needs

The UL policy, without riders, may meet your specific needs. However, we offer a number of riders and supplemental benefits that extend the UL's flexibility. Along with the base policy, these riders provide:

  • Additional level term insurance to increase your coverage for a limited period
  • Decreasing term insurance to help you pay off your mortgage loan
  • Decreasing term insurance to provide a monthly income to your spouse
  • Limited level term insurance for your spouse or your children

Riders are a term insurance product that can be combined with permanent life insurance in order to meet a larger coverage amount at a more affordable rate. Riders can allow you to get more coverage during the periods of your life where you have greater need—for example, during the years when you have a mortgage, or children living at home, or are not yet retired. The term coverage will decrease as these needs decrease, but you will still have some permanent insurance in place with premiums that don't increase.

Mortgage protection rider (DMR)

Mortgage protection coverage is a decreasing term rider combined with Universal Life insurance. The universal life policy combines with a Decreasing Mortgage Rider (DMR) to provide coverage approximating the amount you would need to pay off your mortgage loan in any year, based upon your loan amount, interest rate, and mortgage term.

Income protection rider (DAIR)

Prior to retirement many families depend on one or both incomes to cover daily expenses, provide for their family, and to invest for retirement income. An income protection rider can provide more affordable coverage for this peak need while children are still living at home and savings for retirement are growing. The benefit from life insurance can be structured to be paid out over a specified period, providing a steady income stream.

Accelerated Living Benefit Riders

New life insurance policies with more than $35,000 of initial death benefit may include Accelerated Living Benefit Riders (ALBRs) if the policy is issued in a state where the riders are approved. These riders will pay a portion of the death benefit, while you (the insured) are alive, if a triggering event occurs. This may be a diagnosis for the insured of a terminal illness, a specified critical illness such as cancer or a heart attack, or a specified chronic illness.

Supplemental Benefits

  • Accidental Death Benefit pays an additional benefit if death is caused by an accident
  • Guaranteed Benefit Increases give you the ability to increase your coverage amount without undergoing new medical testing, on specific dates, through your (the insured's) age 40
  • Waiver of Cost of Insurance is a benefit that will waive the Cost of Insurance, helping to keep your policy inforce during periods of approved disability.

Learn more about life insurance