Choose the Best IUL Companies
Indexed Universal life insurance companies offer cash accumulation on top of the life insurance death benefit. Many companies around the offer IUL policies, however, some seem to outshine their competitors. This article will highlight some of the best IUL companies in this dynamic and growing segment.
North American Company for Life and Health
North American Company for Life and Health Insurance is one of the best IUL companies. North American offers up to four different IUL products that include Survivorship GIUL, Guaranteed Builder IUL, Builder IUL, and Rapid Builder IUL. The company offers cash accumulation where policyholders earn some interest on premium payments based on the performance of the selected market index.
Policyholders can also be guaranteed some return even when there is a negative performance in the underlying index. Some of the crediting methods that are applied by North American include; Monthly Point-to-Point, Daily Averaging, as well as the Annual Point-to-Point. Individuals can access cash value via withdrawals or policy loans.
Penn Mutual offers is known to offer adjustable premium payments and death benefits along with attractive growth potential. The company has three IUL options that include; Survivorship Plus Indexed Universal Life, Accumulation Builder II Indexed Universal Life, and Accumulation Builder Choice Indexed Universal Life. Moreover, the company offers maximum flexibility where policyholders can choose between increasing death benefit and level death benefit. When it comes to cash accumulation, the company offers indexed and fixed accounts.
American National Insurance Company
American National Insurance Company offers best IUL products with very competitive cash value accumulation through index crediting options. The market index performance is used by the company to set the interest rate. The S&P 500 index is in most cases used to track the interest that is credited to the cash value accounts.
Voya Financial offers a wide range of crediting strategies to ensure that policyholders have the potential for greater cash value growth. Policyholders could be eligible for a guaranteed 2% interest on their cash value. During negative market performance, the policyholders are guaranteed an annual credited interest rate of 0%, preventing cash value deterioration due to market losses. The company’s products are offered to customers between the ages of 0 years and 90 years and clients tend to be attracted to the company’s multiple crediting strategies.
Minnesota Life Insurance Company
Minnesota Life Insurance Company offers policyholders the liberty of selecting an indexed account or a fixed account. Apart from the cash value option, the company offers three death benefit options. The death benefit options might include the face amount together with less cumulative partial surrender, or plus the sum of premiums.
In conclusion, the Life insurance market is very competitive, and it is important to always select the best IUL Company for more benefits. Some of the best IUL companies include; North American Company for Life and Health, Penn Mutual, American National, Voya, and Minnesota Life.