I think we make money, via lower imputed income taxes. I think the crux of the difference is that the current Term insurance is handled differently tax-wise than the GVUL. Tax laws are different between the two types of life insurance plans, and the GVUL *appears* to be more advantageous taxwise for our application.

And, Metlife makes some scratch on the 2.25% fee on deposits from those who choose to do so.

Someone more bored than me should run a spreadsheet of what it looks like to "invest" the saved imputed income tax dollars into the GVUL investment vehicle. Basically, zero out the change in imputed tax, put the extra into investments (taking the 2.25% hit on it), effectively paying in the same amount of dollars as the current Term plan. It'll only amount to a few hundred (maybe thousand when older) dollars invested a year, but I'm be curious what the final theoretical number would be.