I'm new to the insurance industry, so I've been studying Indexed Universal Life (IUL) products intensively. From my studies, I believe the following to be representative of this product no matter who offers it:~ Allow you to draw income in retirement tax-free~ Receive market-like returns without any market risk~ Never take a market loss~ Allow you to access your money at any age~ Give you an option to continue to make your savings contributions if you become disabled~ Provide a large, income-tax-free lump sum payment to your family if you die prematurely~ Remain protected against judgments and lawsuits (in many states)I'm not sure what Dave means about an IUL being used to fund college educations. Perhaps he will explain.I think the insurance industry doesn't do an effective job of educating the public about IULs. Perhaps they'll get better as our country's fiscal crisis deepens.
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