Indexed Univeral Life insurance, also known as permanent life insurance, has a cash value and a death payout. This insurance can be good or bad for you, depending on how you want to use it. This type of insurance has ties to the stock market index as well. When it comes to Indexed Universal Life insurance (IUL), there are good and bad limits to what you can do.
The good to an IUL is the cash value that you can obtain from an IUL can give your policies. However, the bad can outweigh the good. IUL’s can demonstrate a risk with the stock market. Since you are investing instead of buying, you put your luck in the market, not crashing. When looking into IUL, Katy Insurance can walk you through your options, so you do not regret anything.
Keep in mind there is no fixed interest rate with IUL. However, how do you know if IUL is right for you? the pros and cons are weighed, but one can still be very unsure. A pro to this decision is coming to Katy Insurance to let us talk you through your options and make sure you’re on the right path. Additionally, IUL is more expensive than whole life insurance as well.
Suppose you are looking for flexibility for yourself to grow with your insurance, then I might be for you. You are given control for both payments and death benefits. Again, if you are happy with the thought of risking your insurance for a better payout, then IUL is for you. Let us at Katy Insurance get you set up today! However, other drawbacks for IUL is flexible fees. These fees can work their way into your payout and impact your cashout. The work as well for an IUL is the work to keep your account at a rate that continues to let growth for your money.
Choosing insurance and benefits for yourself takes time, but why not spend that time with us at Katy Insurance to make sure you do not waste time?