IUL Policy – Don’t Pick One Up!

An index universal life insurance policy (IUL policy) is permanent life insurance that has a cash value component in addition to a death benefit. In today’s episode of Grow Money Business, Grant talks about what an index universal policy is, falsehoods that come with insurance representatives, and more.

 

Show Notes

[04.08] Index universal life policy – Grant starts the conversation by defining what it is and explaining how they work.

[08.57] A variable life insurance policy – Grant defines a variable life insurance policy and explains how it differs from an IUL policy.

[12.42] Ups and downs – Grant explains how market fluctuations affect index universal policies.

[14.42] Half-truths – Grant shares inaccuracies that come with the sales pitch of a universal life policy.

[22.07] Legitimate uses – Grant shares the legitimate uses of permanent life insurance in a business setting.

 

Resources

A Guide to Indexed Universal Life Insurance –

nerdwallet.com/article/insurance/indexed-universal-life-insurance

Is IUL a Scam? Yes. –

personalfinanceclub.com/is-iul-a-scam-yes/

10 REASONS TO AVOID INDEXED UNIVERSAL LIFE INSURANCE (IUL) –

youstaywealthy.com/podcasts/avoid-indexed-universal-life-insurance-iul/