At GGFPS, we offer a combination of term and permanent life insurance policies. While we do not at present offer Whole Life or Variable Universal Life policies, we are certain the variety of policies we do offer is sure to fit the bill!

TERM LIFE INSURANCE
  • Active for a set period of time (term), such as 10, 15, 20, or 30 years
  • Premiums are consistent
  • Often a good choice for younger individuals or persons on a budget

PERMANENT LIFE INSURANCE
  • Provides coverage for insured’s lifetime (until you pass away), as long as premiums are paid
  • Unlike term life, permanent life insurance does not expire
  • May build cash value over time, which grows tax-deferred

POLICY BASICS

Premier Term LifeGuaranteed Universal Life (GUL)Indexed Universal Life (IUL)
Policy AdvantageProtectionProtectionGrowth
Policy DurationFinite term:
10, 15, 20 & 30 years		Permanent:
Lifetime		Permanent:
Lifetime
Death BenefitGuaranteedGuaranteedCustomizable
PremiumsFixedFixed
Cash AccumulationNoNoYes
Cash Value
Growth Rate		n/an/aReturns tied to an index fund (but not directly invested in stock market) with a floor to protect against loss.

POLICY CHARACTERISTICS

Premier TermEssential Guaranteed Universal LifeStrategic Accelerator IULStrategic Accumulator IULStrategic Protector IUL
Guaranteed death benefit protectionHybrid of term & permanent life. Guaranteed death benefit protectionDeath benefit protection & flexibility (good for single – lump sum – premium cases)Death benefit protection & LT cash accumulation (good for high funding ability)Guaranteed death benefit protection & cash value for later use
Fixed premiumsFixed premiumsSingle premium enables access to early cash value; Zero premium loadRetirement planning: reduce volatility & taxes on overall financial portfolioRetirement planning: legacy building, estate planning, etc.
Low ratesNo-lapse guarantee, as long as sufficient premiums are paidGuaranteed interest rateGuaranteed fixed interest rate with additional interest bonuses as years progressGuaranteed interest rate with interest bonus on index account exclusively (not fixed account)
Conversion options available to receive benefits earlyA Premium Recovery Endorsement allows you to surrender the policy during a 60-day period following specified anniversary dates and recover all or a portion of premiums paid, less any policy debt or withdrawals.Variable interest participating policy loans – Year 3Standard policy loans – Year 1; Fixed & variable interest policy loans – Year 3Standard policy loans – Year 1; Variable interest participating policy loans – Year 3
The Guaranteed exchange privilege allows you to exchange your policy, without evidence of insurability (or a surrender charge), for a cash value accumulation IUL policyNet zero-cost loans available – Year 6Net zero-cost loans – Year 6Net zero-cost loans – Year 6
Optional riders & endorsementsWaiver of Surrender Charge (WOSC), Optional Rider available at policy issue; otherwise, available at 10 yearsNo Waiver of Surrender Charge (WOSC) option; only available at 10 years; Optional riders & endorsementsSurrender charge period at 15 years; Premium Guarantee Rider available at issue; Optional riders & endorsements
Accelerated death benefitsAccelerated death benefitsAccelerated death benefitsAccelerated death benefitsAccelerated death benefits