Indexed Universal Life

Indexed universal life policies are unique in that they combine features of many other different policies. Doing so allows for individual coverage and gives the beneficiary control over monetary amounts.

What is indexed universal life?

This type of policy is similar to a whole life policy, in that it will pay a death benefit regardless of when the death occurs. Unlike a term life policy, there is not a set period of time in which the death must occur for the policy to pay.

There are premiums that are paid within this type of policy. As the premiums are paid, the cash value of the policy will rise. This cash value can be tied to the stock market, if the individual chooses to do so. While this can make the amount of a policy unsure and open to fluctuation, it also has the potential for substantial increase in value.

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Should you consider indexed universal life?

If there are people you’d like to provide for, a life insurance policy is an excellent step. Thinking about these situations can sometimes be overwhelming, but it’s still important to consider your options and make an educated decision.

If you’re thinking about enrolling in a life insurance policy, you can make an appointment to speak with one of our professionals. We look forward to discussing possibilities with you and helping as you make a decision.