An index universal life insurance 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 an IUL policy 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/