Group Universal Life Policy - GULP
Categories: Insurance, Company Management
Did you hear that big GULP? That’s the sound of group universal life policy. There it is again...
The group universal life policy (GULP) is a group-coverage type of universal life insurance. Because you’re buying life insurance in bulk, it costs less per person. GULP: the Costco of the universal life insurance market.
GULP is often bought by businesses that want to give universal life insurance to their employees. Remember: universal life insurance is no small thing. It’s permanent life insurance, and it also has a saving component, unlike the cheaper term life insurance. If you’re offered a GULP, you just might want to take it. Maybe. Life insurance ain’t for everyone.