When it comes to IUL, when should you use an increasing death benefit vs. a level death benefit?
If you’re younger, socking away a relatively smaller amount like $500 a month in premiums, you want to go with the increasing death benefit.
But when you get older and stop paying premiums into the policy, you want to switch to a level death benefit to keep costs down.
Another scenario when you want to choose a level death benefit?
If you’re older (say 55 or more), and you’re maximum funding a policy within about five years, you want to choose a level death benefit, again to keep the costs down as you get older.
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