Group Universal Life Policy - GULP

AAA

DEFINITION of 'Group Universal Life Policy - GULP'

Universal life insurance that is offered to on a group basis, allowing for a less expensive policy than what is typically offered to an individual. A group universal life policy is most commonly purchased by businesses looking to provide life insurance coverage for their employees.

INVESTOPEDIA EXPLAINS 'Group Universal Life Policy - GULP'

Buying a group universal life policy is similar to buying food in bulk. The cost to cover each individual is cheaper because the policy is designed to cover a large group, just as purchasing a large amount of a particular grocery item is cheaper on a per item basis than buying each item separately.

RELATED TERMS
  1. Group Life Insurance

    Life insurance offered by an employer or large-scale entity (i.e. ...
  2. Group Health Insurance Plan

    An insurance plan that provides healthcare coverage to a select ...
  3. Life Insurance

    A protection against the loss of income that would result if ...
  4. Whole Life Insurance Policy

    A life insurance contract with level premiums that has both an ...
  5. Noncancellable Insurance Policy

    A life or disability insurance policy that an insurance company ...
  6. Policy Or Sales Illustration

    An educational tool that shows a prospective or new insurance ...
Related Articles
  1. Insurance

    Indexed Universal Life: Cash, Flexibility ...

  2. Options & Futures

    Permanent Life Policies: Whole Vs. Universal

  3. Options & Futures

    5 Life Insurance Questions You Should ...

  4. Retirement

    Variable Vs. Variable Universal Life ...

Hot Definitions
  1. Capitulation

    When investors give up any previous gains in stock price by selling equities in an effort to get out of the market and into ...
  2. Turkey

    Slang for an investment that yields disappointing results or turns out worse than expected. Failed business deals, securities ...
  3. Conduit Issuer

    An organization, usually a government agency, that issues municipal securities to raise capital for revenue-generating projects ...
  4. Financing Entity

    The party in a financing arrangement that provides money, property, or another asset to an intermediate entity or financed ...
  5. Hyperinflation

    Extremely rapid or out of control inflation. There is no precise numerical definition to hyperinflation. Hyperinflation is ...
  6. Gross Rate Of Return

    The total rate of return on an investment before the deduction of any fees or expenses. The gross rate of return is quoted ...
Trading Center