The guaranteed universal product from Mutual of Omaha is very flexible and includes many options baked into the base policy that would cost extra at other carriers.
Guaranteed Refund Option - If in the future you decide you no longer need the coverage, you can surrender your policy for premium refund. Get all the premiums paid into the policy returned to you within a 60-day period following the 15th, 20th, 21st, 22nd, 23rd, 24th, and 25th policy anniversaries.
This is a great option and costs you nothing. Similar to the return of premium rider that AIG includes in their competing product.
Accelerated Death Benefit for Terminal Illness Rider - If the insured is diagnosed with an illness that gives them less than 12 months to live or less, access a portion of the death benefit early. Benefit amount may not exceed the lesser of $1,000,000 or 80% of the policy face amount.
Accelerated Death Benefit for Chronic Illness Rider - Take accelerated living benefits for a chronic illness where the insured is unable to perform 2 of the 6 Activities of Daily Living (ADL's). May request up to $1M or 80% of the death benefit, whichever is lower.
Waiver of Surrender Charges for Partial Withdrawal Rider - Waives policy surrender charges for certain events including unemployment, disability, cancer, and nursing home confinement.
Plan Adjustments - As live changes, you have the option to tweak the policy to meet your financial needs.
The guaranteed universal life plus product is an option that is available for 1035 exchanges.
Customize you GUL policy even further with more choices:
Disability Waiver of Policy Charges Rider - If the insured becomes disabled for 6 months or more, this rider will waive the monthly deduction charges.
Guaranteed Insurability Rider - Option to increase your death benefit in the future regardless of your health.
Accidental Death Benefit Rider - Your beneficiaries receive an extra amount of money in the event of accidental death.
Dependents Children's Rider - Purchase a small life insurance policy on your dependent children (age 0 - 20). They can convert to a permanent policy later without medical underwriting.