FIUL is a type of permanent life insurance. It is a very flexible, powerful, and soon to be, popular insurance policy.
An FIUL is different from other traditional insurance products because of how it earns interest on the account value. With an FIUL product, you can direct the account value into –either a fixed account, an indexed account, or a combination of the two. In the fixed account, the account value will get a fixed rate of interest declared by the insurance company. (Some are more competitive than others-so shop around). In the indexed account, the rate of interest is determined by the performance of the S&P 500 Index (stock market)-subject to a maximum cap (ceiling). The cool part about the indexed account is that you have the potential to earn higher rates of return based on the stock market’s performance with a guarantee that your earnings will never be zero. The insurance company establishes a percentage that your rate can never fall below- so you have floor as well.
It can help you……
- provide financial security to your family
- supplement your retirement income-tax free!
- build financial security for your business
- pay off credit cards, student loans, other debts
- cover mortgage payments
- send your kids to college
- address emergencies if they come up
How can one policy to all of this?
- Liquidity-Access to withdraw money from your plan based on available cash value
- Potential to earn-Earn interest based on the performance of the stock market with a ceiling and floor. (No downside risk)
- Flexible Death benefit- Select a set amount or an increasing amount over the life of the policy
- Tax Benefits-Tax free income potential, insurance benefits and tax deferred growth of account value
- No-Lapse Guarantee- A guarantee, for a set number of years, that the insurance contract will not lapse as long as premiums are paid
Exciting stuff!
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I plan on discussing all of this information and options in detail and review potential scenarios, that might pertain to your situation, in which an FIUL can really make a huge difference in your life.
