Is Buying Universal Life Insurance the Right Move?
Making the Decision to Buy Universal Life Insurance
While you may feel that indexed universal life insurance can offer you the financial benefits that you’re seeking, it can still sometimes be difficult to take the next step in securing a policy for yourself. This is often due to a need for additional information, and a deeper understanding of how IUL can work for you.
Although IUL may not be the right solution for everyone, it can be a viable alternative for those who are seeking life insurance protection along with the opportunity to grow the policy’s cash value at a rate that is higher than whole life insurance or traditional universal life insurance guarantees.
To buy Universal Life Insurance can also be a good option for you if you are looking for a way to continue making contributions to a tax-advantaged financial vehicle, even though you have already deposited the maximum annual amount into your qualified retirement account and/or traditional IRA.
Indexed universal life insurance can also help you with supplementing your future retirement income by allowing you to access your cash value funds tax-free. This could provide you with the ability to do some additional traveling or to take part in other activities in retirement that you enjoy.
If you’re in need of additional information regarding indexed universal life insurance, talk with a financial professional who specializes in this type of policy and who can provide you with all of the details that you need, so that you can feel confident in your decision to move forward.