Group Universal Life

What is GUL?
How does it work?

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Group Universal Life (GUL) insurance coverage is an insured policy through Securian Financial. Coverage can be elected or cancelled at any time by going to If you do not enroll when you first become eligible, evidence of insurability will be required. This is a post tax benefit.

Employee Coverage

  • You have the opportunity to elect GUL coverage in multiples of one to 10 times your Total Compensation*, to a maximum of $1,500,000.

  • GUL coverage of up to three (3) times your Total Compensation up to a maximum of $500,000 is guaranteed — no health questions or medical exam required — as long as you elect coverage within 45 days of your hire date.

* Total compensation is equal to your current base salary plus all prior year variable pay. As a new employee, your total compensation is your current base salary.

Coverage for Your Spouse

  • Your spouse is eligible to elect GUL coverage in increments of $25,000 up to $250,000.
  • Spouse GUL coverage of up to $50,000 is guaranteed — no health questions or medical exam — as long as you elect coverage within 45 days of your hire date or within 31 days after marriage.

GUL for New Hires

You may apply for up to three (3) times your total compensation up to a maximum of $500,000 without proof of good health if you apply within 45 days of your initial eligibility. If you apply for more than three times your total compensation, or if three times your salary is more than $500,000 you may need to go through underwriting.

Group Universal Life Insurance Rates


Monthly Cost

Under 30

$0.026 Per $1,000


$0.031 Per $1,000


$0.034 Per $1,000


$0.052 Per $1,000


$0.072 Per $1,000


$0.114 Per $1,000


$0.185 Per $1,000


$0.288 Per $1,000


$0.468 Per $1,000


$1.141 Per $1,000

75 over

$1.733 Per $1,000

Spouse and Employee Life age rates will be calculated based on your age on January 1 of each calendar year.

What is Cash Value?

Your Group Universal Life insurance through Farm Credit Foundations has a cash value feature. This feature lets you contribute premium in addition to the amount you pay for your insurance coverage. The money can stay in the policy to increase the death benefit or be used during your lifetime for long term financial goals, such as retirement, college, a down payment on a home, remodeling or any other expense.

Building cash value in a group life insurance policy is attractive because:

  • You can make contribution at any time.

  • Your after tax contributions grow tax deferred at a competitive rate of interest – guaranteed at a minimum 4.0 percent

  • You may access cash accumulated in the policy by withdrawal or loan for any reason

Looking for More Information?

View the Group Universal Life Insurance Plan Description.


Managing Your Account

  • View your account activity and balance online

  • Request an electronic check, one time or recurring bill payments, such as orthodontics

  • Update your contact information

  • Order additional debit cards(HSA, Limited Purpose, and HealthCare Debit Card option)

Learn More ...

 More Information


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