Pros and Cons of Indexed Universal Life Insurance in 2024

Indexed Universal Life Insurance (IUL) is a flexible type of permanent life insurance that offers both a death benefit and a cash value component tied to the performance of a market index, such as the S&P 500. This insurance product can be an attractive option for those seeking potential growth of their cash value while maintaining life insurance protection. However, IUL comes with its own set of advantages and drawbacks. In this article, we’ll explore the key pros and cons, explain how IUL works, and help you decide whether it’s the right financial tool for your long-term goals.