Empowering Financial Freedom & Security
Empowering Financial Freedom & Security
Indexed Universal Life (IUL) insurance is a unique financial product that combines the protection of life insurance with the potential for cash value growth linked to the performance of a stock market index, such as the S&P 500. It offers policyholders flexibility, tax advantages, and the potential for wealth accumulation over time.
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Key Features
Like traditional life insurance policies, an IUL policy provides a death benefit to beneficiaries upon the insured's passing. This benefit can help provide financial security and support for loved ones.
One of the primary attractions of an IUL policy is its cash value component. A portion of the premiums paid by the policyholder goes into a cash value account, which has the potential to grow over time based on the performance of the chosen index.
Instead of offering a fixed interest rate, IUL policies credit interest based on the performance of an underlying stock market index, such as the S&P 500. This allows policyholders to potentially benefit from market gains while being protected from market downturns.
Policyholders have the flexibility to adjust their premium payments within certain limits, allowing them to adapt to changes in their financial situation.
The cash value growth within an IUL policy accumulates on a tax-deferred basis. Additionally, policy loans and withdrawals may be taken tax-free up to the amount of premiums paid, providing a source of tax-advantaged income during retirement.
IUL policies typically provide coverage for the insured's entire lifetime, as long as premiums are paid as agreed.
Policyholders may have the option to enhance their coverage with riders such as accelerated death benefits, which provide access to a portion of the death benefit if the insured is diagnosed with a terminal illness.