What is the difference between whole life and indexed universal life?
What is the difference between whole life and indexed universal life?
Whole life insurance is designed to be exactly that—life insurance. In contrast, indexed universal life insurance policies are more like retirement-income vehicles. Cash inside of these policies grows on a tax-deferred basis and can be used to pay premiums.
What is the difference between universal life insurance and term life insurance?
Term life insurance covers the policyholder for a specific period of time, such as 10 or 20 years. Universal life is a type of permanent coverage that can last for the policyholder’s lifetime.
What is the difference between universal life and indexed universal life?
IUL vs universal They’re both flexible as far as premiums and death benefit changes. The main difference is a universal index life policy is invested in an index fund and universal life insurance can be invested in riskier equities. Jan 4, 2021
