Who Should Buy an IUL?
An IUL policy is best suited for someone who wants more security in their investments like mutual funds or variable annuities, have a need for life insurance protection, and want the potential of tax-advantaged cash flow in retirement. However, one size does not necessarily fit all, and this is especially true with an IUL policy.
Certain factors can greatly affect whether or not an IUL policy is the best choice for you. If you can answer “yes” to the following questions, then an IUL policy may be right for you.
- Are you concerned about the impact taxes will have on your retirement income?
- Can you commit to a long-term savings strategy?
- Are you still several years away from retirement?
- Do you want principal guarantees in your investments?
Indexed Universal Life Insurance policies should only be purchased by someone who understands the pros and cons of an IUL policy. This is why working with only the most reputable financial services is crucial during the decision-making process.