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Indexed Universal Life (I U L)

What IS Indexed Universal Life?

It’s a life insurance policy first - which provides a Tax Free Death Benefit, and is a way to avoid probate and pass the intended funding to your beneficiaries without messy court issues.

What’s different about an Indexed Universal Life, or IUL policy, is that it can build cash value more quickly and to a higher level than a traditional whole life policy and at the same time provide protection from market losses that traditional 401K’s or IRA’s all can experience. You should evaluate an IUL as a way to supplement your retirement, diversify your financial portfolio, or if you like the idea of a life insurance product that can provide you living benefits.

Your policy’s cash value grows tax deferred – which is never a bad thing.

IUL’s can be customized to focus on your needs as you enter retirement.  You may want to provide for long term care or the ability access death benefits early in case you develop chronic or terminal illness,

You can take out policy loans, tax free, before the age of 59 1/2 – which can be very helpful if you set this up as a hedge for times of need.

You can create income, tax free through policy loans – another helpful feature.

It has fees, just like all insurance products. Ask for an expense report.  However, it often compares favorably to other fees, and won’t cost you as much over time.  We’ll show you how this relates to your situation once we understand your needs better.

Here are Six Reasons Why You Would Want to Consider Leveraging an IUL

  1. If you want to supplement your retirement with tax free income.

  2. If you are concerned about taxation in the future.

  3. If you don’t want negative returns.

  4. If you have maxed out qualified contributions.

  5. If you are a business and are looking to insure key employees.

  6. If you want to leave a legacy

Indexed Universal Life products are not an investment in the “market” or in the applicable index and are subject to all policy fees and charges normally associated with most universal life insurance.  Life insurance policies have terms under which the policy may be continued in force or discontinued. Current risk rates and interest rates are not guaranteed. Therefore, the planned periodic premium may not be sufficient to carry the contract to maturity. The Index Accounts are subject to caps and participation rates. In no case will the interest credited be less than 0 percent. The policy’s death benefit is paid upon the death of the insured. The policy does not continue to accumulate cash value and excess interest after the insured’s death.

Providing business owners, their employees plus individuals and families with best-in-class life insurance, annuities, IUL's, worksite health, employee long term care and more.  We work with everyone, from individuals to  1000+ employee companies.
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A little about us: My family began in the insurance business in 1893 with my grandfather, Fred T. McOmber. He and my father built one of the largest independent insurance agencies in Michigan through their focus on honesty, great customer service, community involvement and making you, the policy holder, the center of everything they did.  That’s the world I grew up in and those are the values I carry forward with me to this day. My business career in multiple industries over 45 years has as its foundation the desire to make my client more effective, their businesses function more successfully and always doing the right thing on their behalf. I look to your needs, not mine and the rest naturally takes care of itself. Request a consult to find out how we can help you have the same great experience!

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