Indexed Universal Life (IUL) Features
- Flexible-Premium – Adjustable Premiums As Life Changes
- Ability to Allocate Where The Cash Value Accumulates I.e. Death Benefit Centric Or Cash Value Accumulation Centric
- Participate in Market Gains.
- Interest Rates Are Determined by Market Conditions But Typically Tied To An Index Such As The Dow, S&P 500, Nasdaq, Etc.
- Living Benefits – Some IUL’s May Have Riders To Help Pay for Long Term Care Provisions
- Guaranteed Death Benefit As Long As Premium Minimums Are Met
Guaranteed Universal Life (GUL) Features
- Lifetime Coverage
- Guaranteed Death Benefit For Life
- Cash Value Builds for the First Years of the Policy Then Can Be Used to Keep Premiums Low Later
- May Have a Return Of Premium Option for The Policy
- Is Designed To Have a Permanent Policy At An Affordable Rate
- Options to Decrease Death Benefit if Premiums Become a Hardship
Choosing the right life insurance can be difficult and oftentimes is one of the most important decisions we will make. Universal life is a great option for some people and knowing what type is best for you is our job. Let us walk you through your options and help you figure out what fits your life.