The bottom line Guaranteed universal life pros and cons come down to a trade-off: a policy can be built around a stated lifetime death-benefit guarantee, but the guarantee depends on the contract’s premium schedule and conditions. It can fit a permanent coverage need, while term or whole life may fit a different budget or goal. … Read more

The bottom line Universal life insurance policy options explained simply: universal life is permanent coverage with a flexible premium and a cash value account. You can adjust payments and death benefit within limits. The main choices are level, increasing, or decreasing death benefit, plus optional riders. Compare these options against your budget and long-term goals … Read more

The bottom line Indexed universal life insurance suitability questions are worth asking before you apply because an IUL combines permanent life insurance with a cash-value account and policy-specific index-crediting rules. The fit depends on your need for lasting coverage, premium budget, tolerance for changing assumptions, and willingness to review costs and guarantees. An indexed universal … Read more

The bottom line Are iul caps and floors guaranteed? No. An indexed universal life policy can define a cap or floor in its contract, yet the current crediting elements and illustrated values may be non-guaranteed or change under the policy’s rules. Read the guaranteed and non-guaranteed columns before treating an illustration as a promise. In … Read more