Group Universal Life Policy(redirected from Group Universal Life Insurance)
Group Universal Life Policy (GULP)
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
Group Universal Life Policy
A universal life insurance policy that one purchases as a member of a collective group. A universal life insurance policy operates much like a whole life policy, with the main difference being that the interest earned on the savings portion of the policy can be used to pay premiums. If a large number of people pool their resources to buy a universal life policy that covers them individually, they are said to buy a group universal life policy.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved