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Hi Spinning,

I have one simple question about IUL's. If I buy one, and down the road I decide I don't want it anymore, can I get out? What are the costs?

Depends... If there is no surrender period, or if it is after the period expires, the walkaway amount is 1005 of cash value.

(Of course, the term "surrender" is simply synonymous with the term 'lock up period' for managed accounts.)

Determinations;
A. How far in?
B. Did you buy one structured with, or without, a surrender charge period?
C. If with, how long was the period?
D. If with, what was the declining charge sequence?

When surrenders are chosen, the range is typically 8-14 years.
The declining charge sequence is typically 10-8%, declining pre-rata each year of the period.

Non-surrender contracts are available when the contract is company sponsored & owned... the company can be as small as a sole member LLC, as long as its a legitimate business.

Dave Donhoff
Leverage Planner
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