Indexed Universal Life vs. Term Insurance

Term life is the most straightforward sort of life assurance protection having a typical term policy: you pay a collection monthly premium for years, and if you die in that term a benefit is paid to your family. The downside is, the coverage is not permanent, having little flexibility to handle varying circumstances and there’s no cash value. Usually, the sole substantial change you'll make after your term policy is in effect is to convert it to a full life policy.

In contrast to term insurance, indexed UL brings in a more flexible – and sophisticated financial tool with benefits which will last a lifetime. You have permanent insurance protection with the liberty to lower your premiums within contract limits and to grade which will be similar to a usual term premium.

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