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What Is Indexed Universal Life Insurance and How Does It Work?

Life insurance is often put into two groups. You’ve got term life insurance, which has no cash value unless you pass. Or you’ve got whole life insurance, which has a cash value, but you’ve got to keep paying those premiums for life. There’s another type of life insurance that you can consider that offers funding flexibility and a cash-value component — universal life insurance.

There are three types of polices within the universal life category: variable universal life, fixed universal life and indexed universal life (IUL). In this article, we'll explore how IUL works so that you can determine if it is right for you.

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