No lapse universal life insurance is a cross between a term policy and a universal life insurance policy. You get features from both types of life insurance.
With a No Lapse Universal Life Insurance policy, there is no cash value to your life insurance so in that sense it behaves like a term life insurance policy. However, the premiums are guaranteed level for the rest of your life. As long as you make your premium payments on time, your policy will not lapse.
For a complete detailed description, see our article, “Universal Life with a No Lapse Guarantee – Everything you Need to Know“.
The easiest way to describe this kind of life insurance is “Lifetime Term” or “Term For Life”. It’s typically referred to as this because your premiums and death benefit are guaranteed level just like a term life insurance policy, except the policy never expires.
Anyone looking for the lowest cost life insurance with lifetime guarantees should look at this type of policy.
Keep in mind, the rates for these policies keep going up. They are still very inexpensive when compared to whole life and universal life insurance, so if you’re looking to make a purchase, you want to do so while rates are at all time lows.
No Lapse Universal Life Insurance Quotes
For those looking for No Lapse Universal Life Insurance Instant Quotes, click on the link.
Where it states “Term Period”, make sure you click “lifetime term”. You’ll see no lapse universal life insurance quotes from over a dozen carriers.
Keep in mind, a true No Lapse Universal Life Insurance policy is guaranteed level to age 121. Many companies have come out with guarantees to age 90 or age 100 to lower the cost and become more competitive.
Our No Lapse Universal Life instant quotes ONLY show true No Lapse Universal Life Insurance quotes to age 121.
If you’d like to speak with an experienced agent who has access to all the No Lapse Universal life insurance policies on the market, please give us a call or fill out the form on the right and we’d be happy to go over your options and send them to you in writing.