06/03/2022
For years, I've disliked how Whole Life and IULs get catagorized as Permanent Life Insurance when as this article points out, IULs are active AS LONG as there is enough cash value available to pay the premiums. Guess what happens to the premiums as you get older? One thing that gets overlooked as well is the Paid Up options in Whole Life, so that even if at some point (usually after the 3rd policy year), you can't continue your premiums, you have an amount of coverage that is already paid for life.
#7702
https://www.investopedia.com/articles/personal-finance/012616/index-universal-life-vs-whole-life-insurance-how-they-compare.asp
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A look at the key differences between indexed univeral life insurance and whole life insurance and some tips for individuals trying to decide between them.