One of the misunderstandings around Indexed Universal Life we hear from financial professionals who aren’t IUL experts is:
“Level is the devil,” meaning you should never choose a level death benefit for IUL.
I just think, “Oh, my heavens, you don’t know.”
In reality, if you’re a 55- or 60-year-old and you’re going to maximum fund your policy in 5 to 10 years, you want to take the level death benefit.
This way, you become self-insured, and your cash value can grow to equal or exceed the death benefit relatively soon (and you can save on costs).
What about younger people?
You can use the increasing death benefit while you’re contributing premiums each month, but when you stop paying premiums in your later years, you want to switch to a level death benefit.
This way you can save on costs and avoid your policy crashing and burning.
Learn more about optimizing your IUL strategy for the opportunity for maximum returns.
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