--- title: Stop Selling Term Life Insurance! description: For your clients interested in term life insurance, there may be a better solution. Guaranteed Universal Life Insurance (GUL) with a return of premium rider. image: https://blog.advisors-resource.com/hubfs/Stop%20Selling%20Term%20Life%20Insurance.jpg --- [Skip to content](https://blog.advisors-resource.com/blog/gul-vs-term-life-insurance#main-content) ![advisors-resource-company-logo-horizontal-full-color-green-1](https://blog.advisors-resource.com/hs-fs/hubfs/advisors-resource-company-logo-horizontal-full-color-green-1.png?width=150&height=65&name=advisors-resource-company-logo-horizontal-full-color-green-1.png) - [Home](https://advisors-resource.com/) - [Who we Serve](https://advisors-resource.com/who-we-serve/) Show submenu for Who we Serve - [CPAs](https://advisors-resource.com/cpas/) - [Business Owners](https://advisors-resource.com/business-owners/) - [Financial Professionals](https://advisors-resource.com/financial-professionals/) - [Webinars & Blogs](https://advisors-resource.com/webinars-case-studies/) Show submenu for Webinars & Blogs - [Our Blog: Industry Insider](https://blog.advisors-resource.com/blog) - [Webinars](https://advisors-resource.com/webinars-case-studies/) - [Contact](https://advisors-resource.com/contact-us/) Open main navigation Close main navigation - [Home](https://advisors-resource.com/) - [Who we Serve](https://advisors-resource.com/who-we-serve/) Show submenu for Who we Serve - [CPAs](https://advisors-resource.com/cpas/) - [Business Owners](https://advisors-resource.com/business-owners/) - [Financial Professionals](https://advisors-resource.com/financial-professionals/) - [Webinars & Blogs](https://advisors-resource.com/webinars-case-studies/) Show submenu for Webinars & Blogs - [Our Blog: Industry Insider](https://blog.advisors-resource.com/blog) - [Webinars](https://advisors-resource.com/webinars-case-studies/) - [Contact](https://advisors-resource.com/contact-us/) Oct 28, 2022 11:45:00 AM # Stop Selling Term Life Insurance! ![Picture of Ralph Pence](https://app.hubspot.com/settings/avatar/d41d8cd98f00b204e9800998ecf8427e) [Ralph Pence](https://blog.advisors-resource.com/blog/author/ralph-pence) Share: [facebook-f icon](http://www.facebook.com/share.php?u=https://blog.advisors-resource.com/blog/gul-vs-term-life-insurance) [linkedin-in icon](http://www.linkedin.com/shareArticle?mini=true&url=https://blog.advisors-resource.com/blog/gul-vs-term-life-insurance) [Twitter icon](https://twitter.com/intent/tweet?url=https://blog.advisors-resource.com/blog/gul-vs-term-life-insurance) [pinterest-p icon](http://pinterest.com/pin/create/link/?url=https://blog.advisors-resource.com/blog/gul-vs-term-life-insurance) [envelope icon](mailto:?body=https://blog.advisors-resource.com/blog/gul-vs-term-life-insurance) I was asked to investigate a life insurance policy recently by a CPA friend of mine. The client, who I assume is the insured, was concerned that the policy premium is scheduled to increase 2 years from now. It did not take long to determine the problem. It also did not take long to determine there are no solutions either. The client bought a 20-year term policy when he was 62 years old - he is now 80. At the time of purchase, he was in good health, now at 80 he is not. The initial premium is $31,149 and stays level until age 82. At that point, the premium will increase to $810,189! The client will soon be in a position of going from fully insured to underinsured. ##### How and why did this happen? As you know, term life insurance is the most popular type of policy on the market. This is due to the fact that it is the cheapest and most accessible way to get coverage. Additionally, many individuals think they only want coverage for a period of time, such as until their children have grown and moved out of the house or until they’re ready to retire. I hear this story way too often. An advisor recommends to their client that they need life insurance. The client responds - what is that going to cost me? This conversation ultimately leads to solving this long-term problem with a short-term solution. In the above example, it was determined that the client needed $3,600,000 of coverage for his family. The cheapest solution was term insurance; a 20-year term policy. *However, the cheapest option isn't always the best option...* ##### An Alternative to [Term Life Insurance](https://lp.advisors-resource.com/alternative-to-term-life-insurance) A better solution, in my opinion, is to ensure that your clients who are interested in life insurance obtain a PERMANENT policy. Guaranteed Universal Life Insurance (GUL) is a great alternative for your clients as it allows them to get affordable, (and most importantly) PERMANENT coverage that they couldn't get otherwise with a 10-, 20-, or 30-year term policy. *I know what you're thinking...* Yes, a GUL policy will have higher premiums than a simple term policy. But there are many insurance carriers that provide a solution: ##### Guaranteed Universal Life Insurance with Return of Premium Riders Some of the carriers we work with offer a [return of premium rider](https://lp.advisors-resource.com/alternative-to-term-life-insurance) on their GUL products. If your clients’ circumstances change or they no longer need life insurance, a return of premium rider may be their way to restore financial stability. For example, on the 15th, 20th, and 25th policy anniversaries, the rider may allow your clients to fully surrender their policy and receive a partial or full return of their premiums paid. Do you want to see a sample proposal comparing a Term Policy to a GUL w/ Return of Premium Rider? [![Term Life Insurance vs GUL w/ Return of Premium Rider](https://no-cache.hubspot.com/cta/default/6074374/6cee405b-65d5-4a4b-8b94-098ec4d3979c.png)](https://cta-redirect.hubspot.com/cta/redirect/6074374/6cee405b-65d5-4a4b-8b94-098ec4d3979c) [GUL](https://blog.advisors-resource.com/blog/tag/gul) ## Related posts [![Whole Life vs IUL](https://blog.advisors-resource.com/hs-fs/hubfs/Whole-Life-vs-IUL.jpg?height=200&name=Whole-Life-vs-IUL.jpg)](https://blog.advisors-resource.com/blog/whole-life-vs-guaranteed-iul) [Life Insurance](https://blog.advisors-resource.com/blog/tag/life-insurance), [Indexed universal life insurance](https://blog.advisors-resource.com/blog/tag/indexed-universal-life-insurance), [permanent life insurance](https://blog.advisors-resource.com/blog/tag/permanent-life-insurance), [Universal Life Insurance](https://blog.advisors-resource.com/blog/tag/universal-life-insurance) ## [Whole Life has made a comeback – is Guaranteed IUL a better choice?](https://blog.advisors-resource.com/blog/whole-life-vs-guaranteed-iul) ![Picture of Ralph Pence](https://app.hubspot.com/settings/avatar/d41d8cd98f00b204e9800998ecf8427e) [Ralph Pence](https://blog.advisors-resource.com/blog/author/ralph-pence) Nov 14, 2021 3:00:00 PM Whole life insurance has been around a long time… Its origins date all the way back to the 1760's.... [Read more](https://blog.advisors-resource.com/blog/whole-life-vs-guaranteed-iul) [![Guide for Life Insurance](https://blog.advisors-resource.com/hs-fs/hubfs/Guide-for-Life-Insurance-Agents-and-Advisors.jpg?height=200&name=Guide-for-Life-Insurance-Agents-and-Advisors.jpg)](https://blog.advisors-resource.com/blog/how-to-efficiently-and-effectively-write-life-insurance) ## [How to Efficiently and Effectively Write Life Insurance](https://blog.advisors-resource.com/blog/how-to-efficiently-and-effectively-write-life-insurance) [Travis Pence](https://blog.advisors-resource.com/blog/author/travis-pence) Jun 29, 2021 10:05:28 AM Many business owners and entrepreneurs, like yourself, spend too much time working in their... [Read more](https://blog.advisors-resource.com/blog/how-to-efficiently-and-effectively-write-life-insurance) [![Business Owners in Growth Mode](https://blog.advisors-resource.com/hs-fs/hubfs/bigstock-Multiethnic-business-people-di-268753639-2.jpg?height=200&name=bigstock-Multiethnic-business-people-di-268753639-2.jpg)](https://blog.advisors-resource.com/blog/advisors-guide-to-li-for-business-owners) [Business](https://blog.advisors-resource.com/blog/tag/business), [Business Owner](https://blog.advisors-resource.com/blog/tag/business-owner), [Life Insurance](https://blog.advisors-resource.com/blog/tag/life-insurance), [Non-Qualified Plans](https://blog.advisors-resource.com/blog/tag/non-qualified-plans), [executive bonus](https://blog.advisors-resource.com/blog/tag/executive-bonus), [executive bonus plans](https://blog.advisors-resource.com/blog/tag/executive-bonus-plans), [life agent](https://blog.advisors-resource.com/blog/tag/life-agent), [Indexed universal life insurance](https://blog.advisors-resource.com/blog/tag/indexed-universal-life-insurance), [permanent life insurance](https://blog.advisors-resource.com/blog/tag/permanent-life-insurance), [Universal Life Insurance](https://blog.advisors-resource.com/blog/tag/universal-life-insurance), [Split Dollar](https://blog.advisors-resource.com/blog/tag/split-dollar), [Key Person Insurance](https://blog.advisors-resource.com/blog/tag/key-person-insurance) ## [Advisor's Guide to Life Insurance for Business Owners](https://blog.advisors-resource.com/blog/advisors-guide-to-li-for-business-owners) [Bill Ipema](https://blog.advisors-resource.com/blog/author/bill-ipema) Sep 10, 2020 5:06:22 PM Background In the past ten years, we have experienced numerous tax law changes which have reduced... 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