In our last blog post, we compared IUL and 401k and showed that IUL is actually a better retirement tool than 401k!
In essence, IUL is a "Buy Insurance and Invest the Difference, done by the insurance companies". Because the investment is put under the insurance umbrella, you can enjoy all the tax-free benefits that you couldn't get by yourself. There is a cost to do so, but in the end, the benefits outweigh the costs, when compared with all the other alternatives.
Now we will wrap up our IUL 101 series with the summary of pros and cons of IUL.
In essence, IUL is a "Buy Insurance and Invest the Difference, done by the insurance companies". Because the investment is put under the insurance umbrella, you can enjoy all the tax-free benefits that you couldn't get by yourself. There is a cost to do so, but in the end, the benefits outweigh the costs, when compared with all the other alternatives.
Now we will wrap up our IUL 101 series with the summary of pros and cons of IUL.
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