What exactly is meant by the term “indexed universal life insurance”? Perpetual life insurance is a form of life insurance policy that remains in force for the policyholder’s whole life as long as the required payments are paid. Indexed universal life insurance is a sort of permanent life insurance (as opposed to a term policy, which expires after a set amount of time).
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Prior to investing in an IUL insurance policy, it is essential to have a solid understanding of how the product works in order to maximize its potential benefits. Indexed universal life (IUL) insurance contracts provide more possibility for upside profits, more flexibility, and gains that are not subject to taxation. Permanent protection is provided by this kind of life insurance as long as the premiums are kept current.