Guaranteed universal life (GUL) is a universal life policy designed primarily for lifetime death-benefit guarantees rather than cash-value accumulation. Premiums are set to maintain coverage to a chosen age (e.g., 90, 100, 121) using secondary guarantee provisions. Cash values are typically modest, and missed premiums can jeopardize guarantees unless catch-up payments are made. GUL is often used for estate liquidity, business continuation, and legacy planning where certainty of benefit is paramount.

Estate plans and buy-sell agreements use GUL for predictable death-benefit guarantees. Advisors Calendar premiums, test secondary guarantee provisions, and warn that missed payments may require catch-up to restore guarantees.