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 ?
* Whales breathe air and gulp! They can stay under water one-and-a-half hours without coming up.
"At her age her teeth have gone and she gulps food which I mash for her.
In the U.S., the average person gulps down 363 bottles of Coke a year, a number that hasn't grown much over the last 10 years.
It was between gulps of convulsive laughter that she informed us that the title of a work by Dennis O'Connor and Phillip Adams was not Mitsy and Beade in East Seattle but Mitsy and Beade Eat the Apple.
Two Gulps, No Pause There seems to be an endless number of "foolproof" ways to swallow pills.
Profiles of individual fish species appear throughout the text and bring to light many varieties that possess unusual characteristics for adapting to their environment, for example, the spiny puffer fish gulps so much water that it becomes too big for its predators to eat.
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.