You know, I think S&P500 investing is faith investing, while the IUL is safety investing. Personally, I think America is cruisin' for a bruisin'.If things come crashing down, the only "safety" will be if you have your own food & water, and in how much ammunition you have in your basement. ;-)An insurance company has no source of returns that is not available to the individual investor. Just where do you think they will get the money to pay their "guarantee" if the stock market crashes and the bond market crashes?And in the financial sense, America and Europe and the ROW are tightly coupled. If the US stock market crashes, so will Europe's. Notwithstanding that financially, Europe right now is in a bigger hole than America. It's more likely that the EU will take America down than America will crash while the EU soars.=================Apropos of Dave's concern, I have this in my Important Quotes file:"It is a good rule of thumb that investors (and especially individual investors) generally need more liquidity than they think."=================For CC, I have another quote which I can't find right now but it goes like this: "Don't invest according to your political feelings/opinions. The market will do as it will, regardless of what you think about the politicians."No matter how strongly you feel about Barak Obama, it is a fact that the S&P500 has more than doubled since Jan 2009. That's a lot of money to leave on the table just because you thought he was a bad choice for President. Even though you were right about him.