Indexed Universal Life
"Secure Your Future with Indexed Universal Life (IUL)"
What is IUL?
Indexed Universal Life (IUL) insurance is a form of permanent life insurance that offers lifelong death benefit protection along with a cash value component. Unlike standard universal life insurance, IUL provides the potential for higher returns while protecting against market downturns. What distinguishes IUL is the way interest is credited to the cash value. In addition to a guaranteed interest rate, IUL allows you to earn returns based on the performance of a stock market index, like the S&P 500.
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Key Features of IUL:
Who Can Benefit from IUL?
IUL is particularly appealing for individuals who want lifelong insurance protection with the added benefit of growing cash value that can be used in retirement or other financial goals. It’s ideal for those looking for a balance between security and growth potential.
Frequently Asked Question
Here are some frequently asked questions (FAQs) about Indexed Universal Life (IUL)
An IUL policy provides lifelong insurance coverage and builds cash value over time. The cash value grows by earning interest, which can be linked to a market index. You also get downside protection, ensuring that your cash value won’t decrease due to poor market performance, thanks to a guaranteed minimum interest rate.
IUL stands out due to its flexibility and growth potential. You can adjust your premiums and death benefits, while the cash value can grow based on the performance of a stock market index. This offers more growth potential than traditional whole life or universal life insurance, but with a safety net to protect against market losses.
Yes. IUL policies offer flexibility, allowing you to increase or decrease your premiums and adjust the death benefit to fit your changing financial needs. However, it’s important to ensure you’re still meeting the policy’s minimum premium requirements.
Yes. You can access the cash value through policy loans or withdrawals. The cash value can be used for a variety of purposes, such as supplementing retirement income, covering emergency expenses, or funding other financial goals. Keep in mind that withdrawals or loans may reduce your death benefit.
Yes. The cash value growth potential of an IUL, combined with the ability to take tax-free loans or withdrawals, makes it a popular choice for individuals looking to supplement their retirement income.
