Index Universal Life Insurance is a flexible premium adjustable life insurance plan that participates in the market upside without receiving any of the market downsides.
Indexed Universal Life insurance plans can have living benefits that allow you to accelerate (use) of a portion of the death benefit while you are still living for things like Cancer, stroke, and heart attack. These policies are not limited to those three illnesses and cover as many as 16 others depending upon the insurance carrier. This gives you the ability to take care of things such as medical bills, mortgage payments, etc. Living Benefits are a great addition to any plan.
Indexed Universal Life insurance plans can supplement a retirement plan as well significantly help in the case of retirement. Contact us for further information.
IUL’s are contractually guaranteed for you not to lose the principal balance from the returns you are credited.
There are some Indexed Universal Life plans that you don’t need a medical exam however the majority of plans still require an exam.
IUL’s are set up according to the consumers goals. These policies if properly structured are generally set up to have an end date to the payments.
IUL’s can base their performance off of popular indexes such as the S&P 500 you are credited with some of the gains and none of the losses. If you take into consideration you don’t lose during the down years your rate of return can be better than average.