IUL Reviews
Indexed universal life insurance is a great addition to many people’s overall financial plans. But it is vital to take some time to review your potential IUL policy against alternatives to understand best any IUL Pros and Cons associated with IUL policies before you determine which policy is the best fit for you.
Comparing multiple IUL illustrations to gain useful insights into how different IUL products and solutions could work for you. The best method of achieving financial security is to make an informed decision about any long-term investment you may make. Receiving advice from a highly reputable financial professional is always a smart move. As you consider using IUL as an investment and attempt to find the best product and structure for your needs, using the right professional can prove to be incredibly valuable.
The IUL Structure
As you review different IUL products and their potential benefits against one another, you should ask yourself several questions to make a well-thought-out decision. These include the following:
- Do you need the protection of life insurance?
- What tax bracket are you currently in?
- What tax bracket do you anticipate being in at retirement?
- When do you estimate your retirement to begin?
- Have you maxed out your employer-sponsored retirement plan and/or a personal IRA account?
- Are you seeking alternate strategies for building tax-deferred savings or tax-free income?
- How is your current health condition?
- Do you have a family history of serious or adverse health issues?
- What is your investment risk tolerance?
- Do you have an ample amount of disposable income?
- Do you anticipate having enough retirement income streams to pay your future living expenses?
How IUL policies are credited with growth is different from other universal life insurance policies. The cash value accounts for an IUL policy increase depending on the performance of the underlying market index. When you consider IUL vs. whole life or universal life policies, the index crediting gives the IUL a larger growth potential. Comparatively, IUL policies have a lower investment risk compared to stock market-based investments like variable life insurance policies or mutual funds. Therefore, industry analysts argue that an IUL investment is better than variable life insurance plans or traditional universal life insurance.
In conclusion, reviewing different IUL policies against one another and alternative solutions is always a good idea. Working with an insurance professional who is also an IUL Expert can help you determine whether an IUL policy will be in your best interest. If so, they can also assist you with narrowing down your IUL policy options.
