Clearly one of the hottest life insurance products on the market is Indexed Universal Life (IUL) with consistently increasing market share as the years go by. IUL has many more moving parts than its more conservative cousins Term, Whole Life, or even Guaranteed Universal Life (GUL). As a result there is more skepticism and criticism against Indexed Universal Life in spite of its swelling popularity.
Oftentimes agents are skeptical of things they’ve heard regarding IUL’s overall lack of guarantees with not only how the cash value grows, but also how the internal policy charges are assessed.
Using the Ensight Platform is one way to compare various IUL products against each other in terms of growth projections and guarantees.
If however, you want first to take a step back and fully understand the pros and cons of Indexed Universal Life, you should take a look at the most comprehensive article ever written on IUL. Our friend and colleague John “Hutch” Hutchinson of Banking Truths painstakingly dug into the first few pages of both YouTube and Google to elaborate about all the pros and cons of IUL he could find.
Hutch’s article “Indexed Universal Life’s Pros and Cons [IUL Explained] goes into detail about each one providing the necessary context. In a balanced manner, this article addresses not only all the positive hype around IUL, but also the various digs against IUL from internet bloggers, the investment community, and insurance agents that don’t believe in it.
It’s a really long article, but thankfully Hutch added a clickable table of contents at the top, so you can quickly scan the different claims about IUL and jump to the one you want to understand more about.
If you’ve been curious about IUL, but want to understand the full implications before using Ensight to compare and contrast different product offerings, click here to access Hutch’s epic article on IUL.