Indexed universal life

IULs are a permanent life insurance solution. It offers simplified underwriting-no medical exams or lengthy health inquiries. In addition to the death benefit, an IUL Express policy also has the potential to accumulate cash value, which is credited interest at a rate that is based on the S&P 500.  Guaranteed coverage for 20 years  or to age 80. Premiums do not go up..

In addition to a death benefit, an IUL has the potential to accumulate cash value, which is credited at a rate that is based on the performance of the S&P 500. The cash value can help extend the death benefit, or allow you to reduce or stop future premium payments. With an IUL you get coverage for 20 years or until age 80. Coverage can continue to age 120.

This product is good for those clients looking for coverage at affordable rates. It could be a good fit for those nearing retirement who are beginning to plan final expenses. It could be for parents  with young children at home to replace income. It would be good for clients who just purchased a home. Finally, it's for clients who need their coverage issued quickly and who want permanent coverage but don't like needles or lengthy health questions.

The client pays a premium. Part of the premium goes to paying for the insurance protection and policy charges, and part goes to building an accumulation value. That value accumulates interest. A fixed IUL is designed for clients with a long term death benefit need such as wealth transfer or estate planning. Long term, no lapse protection premium guarantees the death benefit will last 10 years minimum.

An indexed IUL is for clients who have a life insurance need, but also want to build a tax deferred cash value. It's primarily used to help supplement future cash needs such as paying for a child's tuition expenses, supplementing retirement income, or for any reason they choose. No lapse protection guarantees that the death benefit will last 10 years minimum. They both contain critical, terminal, and chronic illness riders.