Indexed Universal Life Insurance

There are basically only a few financial tools based on the tax code that offer tax free growth options.  Examples include Roth IRAs, municipal bonds and certain type of products linked to life insurance like indexed universal life insurance.  The idea is cash accumulation living benefits along with death benefit!

They are flexible products meaning once you set up the initial yearly investment you want to make, you can increase or decrease that amount to certain minimum and maximums.  Maximums can be quite high and many people really overfund these products and really enjoy the tax-free growth with IRS limitations.  

The idea is there is a cap upside based on for example S&P index performance and also a floor of typically 0% for any years that the market is not doing well.  

There are also built in benefits depending on the specific product and carrier like:

Accelerated Benefit for Chronic Illness

Accelerated Death Benefit for Terminal Illness

and Guaranteed Refund Options

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