Why it’s important to understand IUL
Life insurance is a vital financial safeguard, ensuring that loved ones are protected in the event of an untimely death. While traditionally seen as a concern for older individuals, its value for young families has become increasingly recognized, especially after having children. There are two primary types: term insurance, which is affordable and provides coverage for a set period but lacks cash value, and permanent insurance, which is costlier upfront but builds equity and offers living benefits like chronic illness coverage, cash accumulation, and flexible payments. Permanent policies can also support financial planning by aiding in retirement savings, tax strategies, asset protection, and legacy planning.
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