Analyze Your Current IUL Plan
Things to Watch For
There are a number of important elements to check in order to make sure your index universal life insurance is up to date:
- Do you own your policy primarily for protection, accumulation, or both?
- Are you max-funding the policy, or paying in as little as possible?
- Is the policy issued by a mutual company or a stock company (investor-owned)?
- Does the company have a long history of treating existing policyholders as well as new ones?
- Does the company offer a pathway for old policies to be exchanged for policies of newer products?
- How does this company's premium load, cost of insurance, and other charges stack up vs. other carriers?
- Does the company offer uncapped, as well as capped index strategies?
- Is there the potential for bonus index crediting, multiplier bonuses, or other extra crediting? How do they charge for these?
- Does the policy offer participating loans (index loans) (variable loans)?
- Which underlying equity index of multiple indexes are available?