Charitable Giving and Life Insurance Part 4
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I am purposely taking a long time on life insurance. It can be an integral part of you giving so I want to help you understand as much as possible. Today we will look into IUL. Indexed universal life insurance (IUL) is a type of permanent life insurance. It stays in force as long as you stay current on your premium payments or until you reach the maturity date specified in the policy. Many IULs mature when the insured person reaches age 121.
Similar to whole life, IUL has a cash value component. But the gains in an IUL are benchmarked to an index like the S&P 500. While the cash value growth is linked to the index, the insurance company actually invests in things like bonds, mortgages, certain treasuries and in some cases, options contracts.
Continue reading the article
I am purposely taking a long time on life insurance. It can be an integral part of you giving so I want to help you understand as much as possible. Today we will look into IUL. Indexed universal life insurance (IUL) is a type of permanent life insurance. It stays in force as long as you stay current on your premium payments or until you reach the maturity date specified in the policy. Many IULs mature when the insured person reaches age 121.
Similar to whole life, IUL has a cash value component. But the gains in an IUL are benchmarked to an index like the S&P 500. While the cash value growth is linked to the index, the insurance company actually invests in things like bonds, mortgages, certain treasuries and in some cases, options contracts.
Continue reading the article