Group Universal Life Policy

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Group Universal Life Policy (GULP)

Universal life insurance on a group basis. See: Group insurance.

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.
References in periodicals archive ?
The theory is that the first gulp causes the epiglottis (the flap of tissue that covers the trachea when we eat) to block the trachea, and the second gulp eases the pill down without choking.
A research team at the University of Texas at Austin had searched for resonance by tucking frogs into bags of helium to see whether their calls turned squeaky, much as gulps of helium from a birthday balloon change the resonant properties of the human vocal tract to produce a Mickey Mouse voice.
These membranes are probably remnants of the series of evolutionary gulps that landed the DNA inside an alga that eventually ended up in the single-celled protozoans.
An exhausted football player runs to the sidelines, puts a mask over his nose and mouth and gulps a few breaths of pure oxygen before returning to the field.