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re: Indexed Universal Life policy. Who has done it?
Posted on 7/28/23 at 8:08 am to L S Usetheforce
Posted on 7/28/23 at 8:08 am to L S Usetheforce
How much are you putting in and how long have you been doing it? Let’s run the numbers for you.
Edit: also what’s your age, health, and death benefit value? Let’s go ahead and make a comparable term quote.
Edit: also what’s your age, health, and death benefit value? Let’s go ahead and make a comparable term quote.
This post was edited on 7/28/23 at 8:20 am
2
Posted on 7/28/23 at 8:59 am to Shepherd88
quote:
How much are you putting in and how long have you been doing it? Let’s run the numbers for you.
Why do you need this information? You should be able to prove it with out it.
Posted on 7/28/23 at 10:29 pm to Shepherd88
I put in 10k to start and then 1k per month since I’m 35.
Every 8 years I add 10 more.
I also fund a 401k to the max I can yearly.
The only difference between the two is when I take cash out my IUL it’s tax free. The government nor my wife can touch it. So at 58 I now have a salary if I chose off the death benefit. It will likely fund my 401k at 58 when i increase my contributions.
It’s just another bucket that has many afforded protections including I can’t lose anything in the market but I cap out at 10% per year. I can take a loan out for 2%. The bank takes its cash value as assets. It’s pretty cool.
Every 8 years I add 10 more.
I also fund a 401k to the max I can yearly.
The only difference between the two is when I take cash out my IUL it’s tax free. The government nor my wife can touch it. So at 58 I now have a salary if I chose off the death benefit. It will likely fund my 401k at 58 when i increase my contributions.
It’s just another bucket that has many afforded protections including I can’t lose anything in the market but I cap out at 10% per year. I can take a loan out for 2%. The bank takes its cash value as assets. It’s pretty cool.
This post was edited on 7/28/23 at 10:32 pm
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