Under a Guaranteed Universal Life policy, when are premiums required to keep the policy from lapsing?

In the context of a Guaranteed Universal Life (GUL) policy, the correct answer is based on the nature of the premium requirement associated with maintaining the policy's active status.

Under a GUL policy, premiums are generally required to ensure that the policy remains in force and does not lapse. However, there is a distinction between the total premiums paid and the minimum premiums. The minimum required premiums are designed specifically to cover the cost of insurance and ensure that the policy can provide the guaranteed death benefit for the life of the insured, as long as these minimum payments are made.

While the insured is alive, paying the minimum required premiums guarantees that the policy stays intact and avoids lapsing. This is critical, as failure to pay at least this minimum could result in the policy becoming inactive, which would forfeit the death benefit.

Options that imply premiums are only required until a certain age or that no premiums are necessary do not reflect the reality of how GUL policies function. The requirement of only paying premiums during the insured's lifetime does not account for the necessity of maintaining the policy's health and benefits through the payment of minimum premiums.