What is group universal life insurance?

Group universal life insurance is a type of group insurance plan that can be purchased by an employer. With this plan, you will be guaranteed acceptance as long as you are part of a group. The advantage of this type of plan is that you can accumulate a cash value and use part of the cash value to make your premium payments. One of the disadvantages of this type of plan is the costs of administration. In most cases, you would be better off to get a term policy and invest the difference by yourself. 

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