You may have a life emergency, such as your daughter contracts a rare disease, the cure for which is to be found only in a teaching hospital in Australia. ;-)There was actually someone at my church that this happened to. He borrowed against his life insurance policy.As I explained, in my 28 year career, I managed through 5 years (18% of my career) of no/lower income, and didn't have to liquidate any retirement funds, so not all life emergencies would require liquidation. Yes, I suppose a catastrophic disease could make me liquidate retirement funds. But I would go through a lot of other resources first, before even considering touching my retirement funds. But the cost of ending up with potentially so much less in retirement funds because of the IUL fees, caps and lack of dividend credits seems like I would be giving up a lot of reward to protect against a minimal risk. The risk/reward trade-off seems slanted to reward the insurance company, not me.AJ
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