What If We Experience A Serious Health Issue During Indexed Universal Life (IUL)
Any serious health issues that arise after a policy has been issued will not affect the policy holder. This applies to Whole Life Insurance (WLI), Indexed Universal Life (IUL) and Variable Universal Life (VUL).
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Variable Universal Life (VUL) & Indexed Universal Life (IUL) vs Whole Life (WL) Insurance
Variable Universal Life (VUL) & Indexed Universal Life (IUL) are indexes that payout according to the performance of the market(s) they deal in. Universal Life (UL) is the basis that VUL and IUL are built on (actuarial tables of term insurance). ...
How Long Before Someone Should Switch From A Term Policy to Universal Life Insurance
It depends because everyone is different. High risk-rewards policies such as IUL & VUL have higher growth rates and are great for those in an upward market - and when done for less than 5-10 years. In short, it usually comes down to the desired cash ...
Can A Policy (Life, Health, Auto, Home, Etc.) Be Transferred Into The Trust's Name
Typically yes; however, it is not proper for every type of insurance. It is often seen as beneficial for only vehicles and homes to have the insurance policy in the trust's name (especially if a mortgage/loan is still being paid off for these ...
Are Life Insurance Payouts Taxable
Generally, life insurance proceeds received as a beneficiary aren't included in gross income; however, any interest received is taxable.
Will Whole Life Have Lots of Riders Attachable To The Policy - Especially In Case of Sickness or Terminal Illness
Yes, there are riders available where the insurance company will actually pay one's premium in specific circumstances, including the ability to use one's death benefit while they are still alive in some circumstances too. NOTE: Indexed Universal Life ...