Buying life insurance surely rises to the top when you make a list of things you can do to protect your family’s future. The reason is simple: Buying life insurance helps you financially support the people you love after you’re gone. That support can help make up for the loss of income, and it can allow your family to continue to live the lifestyle they’re familiar with – exactly what you’re looking for. But what if life insurance could do that, plus help your plan for retirement? That’s where indexed universal life insurance (IUL) comes in.
The Basics on Indexed Universal Life Insurance
There are several types of insurance, all designed to provide a death benefit. Some, like indexed universal life, provide additional features.
Many people are familiar with term life insurance, which provides coverage for a specific range of time, such as 10, 20 or 30 years. And there’s whole life, which provides permanent coverage while building cash value. Meanwhile, indexed universal life is similar to whole life, but with more flexibility and opportunity for growth.
Like a whole life policy, it’s permanent coverage, and part of your indexed universal life premium will pay the cost of insurance and any expenses related to the certificate – while the rest can be used to accumulate cash value. However, there is a key difference many consumers want: flexibility and the opportunity for greater cash value growth linked to an index.
Indexed universal life’s flexibility lets you determine how you pay your premiums, whether in a lump sum or regular monthly payments. You can even adjust those payments up or down as the need arises1.
Taking advantage of a bullish stock market without worrying about losing money due to market losses is another thing that makes indexed universal life attractive to many people. Add in the advantage of protecting your loved ones with the death benefit, and you have a winning combination.
What Makes My Choice IULTM a Good Choice for You?
If indexed universal life seems to fit your needs, then look at WoodmenLife’s My Choice IUL. This product provides your beneficiaries with a death benefit and you the ability to build potential cash value over time.
The powerful combination of insurance and retirement planning helps address a basic concern shared by families – financial protection – no matter where they are in life. My Choice IUL could be a great fit for you, regardless of the stage of life you’re in:
With My Choice IULTM, you also have the ability to grow your cash value in two ways:
Visit WoodmenLife.org/MyChoice to find out more about My Choice IUL.
Flexible Premiums Adjustable Indexed Life Certificates ICC18 8730 4-18, 8730 4-18 (XX).
Universal Life insurance products contain fees, such as mortality and expense charges (which may increase over time), and may contain restrictions, such as surrender periods. This certificate could lose money. WoodmenLife will provide notification if the guaranteed monthly deductions and interests are expected to exhaust the plan’s cash values prior to the maturity date. This certificate is not guaranteed to stay in force until maturity based on minimum guarantees.
Products are not available in New York and may not be available in all states.
We’ve been helping to protect the financial future of families like yours, making a difference in hometowns across America and honoring our country since 1890. As a not-for-profit life insurance company, we put money back into the community. We’re here when you need us most.Learn More About WoodmenLife