“The main reason for purchasing life insurance should be the death benefit, not cash growth” per an article in insurancenewsnetmagazine.com.
Indexed universal life insurance is the twist on permanent life insurance that is driving the sales of most major insurance carriers.
Once a client decides to purchase a permanent insurance product, the next decision they must make inevitably becomes — whole life or IUL?
Why should I choose IUL – Indexed Universal Life?
Why should I choose Whole Life?
The IUL has experienced explosive sales growth since the 2008 financial crisis. IUL now stands as the next most popular life insurance product after whole life, according to LIMRA sales data.
Both IUL and whole life generally are sold for death benefit protection today with potential for cash value accumulation and retirement income down the road. Whole life touts its robust death benefit, premium and cash value guarantees along with steady dividend performance, while IUL promotes its index-linked upside performance combined with some level of downside protection.
This solution may not necessarily work for all clients. There will be many clients who will still prefer a traditional whole life product or a traditional IUL.
However, given the significant size of the whole life and IUL marketplaces, we believe the time is ripe for a “best of both worlds” indexed PUA solution. This concept could be attractive to many of today’s insurance buyers, providing attractive whole life guarantees along with the opportunity for index- linked upside potential.
Anil Vazirani, Rick Redaelli, and Jon Armstrong of Secured Financial Solutions ask: Whole Life and IUL? Why Not Have Both?
Call 1-800-957-5604 x 200 to set up a Complimentary Strategy Session
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* See article: http://insurancenewsnetmagazine.com/article/whole-life-and-iul-why-not-have-both-3200#.WFwPLvkrLIU