An index universal life insurance plan (IUL) is a type of permanent life insurance that offers a number of benefits. In this blog post, we will be going into detail on some of the benefits of an IUL.
Death Benefit:
A primary function of life insurance is the construction of the death benefit. When a loved one passes, it can be difficult to manage the death emotionally and financially. Having a plan helps. An IUL provides a death benefit to your beneficiaries when you pass away. The death benefit is not taxable, and it can be used to cover a variety of expenses such as funeral costs, outstanding debts, and educational expenses for your children.
Cash Value:
An IUL also has a cash value component. The cash value grows over time, and you can access it through loans or withdrawals. You can use the cash value to supplement your retirement income, pay for a child's education, and various other strategic utilizations.
Tax-deferred growth: The cash value in an IUL grows on a tax-deferred basis. This means that you don't have to pay taxes on the earnings until values are withdrawn.
Flexible premiums: You can adjust your premiums on an IUL up or down as your needs change. This can be helpful if you experience a financial hardship or if you want to increase your death benefit coverage.
Potential for higher returns: The cash value in an IUL with JHN FINANCE©️ is invested in the index market. This gives you the potential for higher returns than you would get with a traditional life insurance policy.
If you are looking for a life insurance policy that offers a number of benefits, an IUL may be a good option for you. Speak with us today to learn more and to see if an IUL plan is right for you.
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