See our unbiased rankings breakdown of all the top guaranteed universal life insurance companies for 2019.
Quick Summary: Cincinnati Life's GUL product has very competitive pricing, especially for women. Qualifying can be difficult and their underwriting process is lengthy and exhaustive. A stripped down policy that does not contain good riders.
About the Company - Cincinnati Life
The Cincinnati Life Insurance Company hasn't been around as long some of the big players but don't let that fool you into thinking they don't have a solid history. Founded in 1950 by a group of life insurance agents, the mission was to put customer service first.
Cincinnati Life has kept this promise by having a network of local agents as well as a 24/7 national customer service line. They have consistently earned praise from Forbes as one of "America's 50 Most Trustworthy Financial companies".
When judging their financial strength, Cincinnati Life does very well with the major rating agencies. These grades include an "A" from A.M. Best, "A+" from Fitch, and "A+" from Standard and Poor's.
What is Guaranteed Universal Life Insurance? (expand to learn more)
Also known as GUL or "No Lapse", these policies are a simplified version of traditional universal life insurance. A good fit for people who desire the peace of mind of permanent life insurance and want to know the death benefit will always be there.
With guaranteed universal policies, there is no investment component so you don't have to worry about performance of interest rates. These products are attractive because they are simple and easy to understand. There is a guaranteed premium payment that doesn't change and a guaranteed death benefit that will cover you up to age 121, so basically for "life"
Expect the cost to be higher than basic term life insurance but much cheaper than whole life or non-guaranteed universal life policies. Learn more about the Pros and Cons of guaranteed universal life insurance.
About the Cincinnati Guaranteed Universal Life Insurance Policy
LifeHorizons LifeSetter GUL
$50,000 to No Maximum
18 to 75
To age 121
Cincinnati Life Insurance Company Underwriting Secrets
The Cincinnati life insurance company is known to offer low premiums, but you must qualify, and that isn't always easy here. Their underwriting process is very in-depth and takes longer than the industry average as they thoroughly investigate everything.
The secret to finding the cheapest life insurance rates is applying at the company that will view you most favorably. Just going with the one that shows the lowest rates can be a BAD idea and end up costing you more money.
Cincinnati underwriting can be lenient in the following scenarios:
Cincinnati life may NOT be a good choice for:
Cost - Sample Rates
Sample Cincinnati guaranteed universal life insurance quotes:
50-year-old male at Preferred (Select) health class - pricing listed is per month
to Age 121
48-year-old female at Preferred (Select) health class - pricing listed is per month
to Age 121
Our custom quote tool on this page displays only guaranteed universal quotes so you can cut through the clutter. Please note that some carriers do not allow us to display their rates online. We will discuss if there are other options that might be a better fit.
Premiums are competitive for females
Exceptional customer service
Limited riders and options to the customize policy
Only available for issue up to age 75, most companies go to 80 and some as high as 85
Extras, Options, and Flexibility
Cincinnati's LifeHorizons LifeSetter GUL product is lacking in bells and whistles. They try to keep the premium costs low but make sure you fully understand what you are getting.
Automatically Included at No Extra Cost
Accelerated Death Benefit - If the insured becomes terminally ill and given 12-24 months to live (varies by your state), you can advance a portion of the death benefit early.
Use these funds for medical care or just to make the last days more enjoyable. Just like the Mass Mutual GUL policy, this is restricted only to terminal illness. It does not cover critical or chronic illness.
Additional Options - At a Cost
Children's Insurance Rider - Purchase a small term life insurance policy on your dependent children (age 0 - 25). One rider covers all household children. The maximum amount of coverage that can be purchased is $20,000 per child.
How To Make Sure You Choose the Right Universal Life Insurance Policy
The best advice I can give is to always work with an independent agent. If you call a company direct, they'll only push their products on you, and you save nothing. Rates are fixed by your state laws.
Life insurance is the ONLY thing we do. We know the ins and out of 60+ companies and can find you the lowest rates. Every. Single. Time.
To get started, fill out a quote request and we'll be in touch soon to help.