Updated: Oct 15, 2020
I was on a webinar the other day, and the presenter, whom I really respect, was saying that "Indexed Universal Life is the worst policy to use for retirement income" compared to his preference of a limited-pay WL.
Now, is he right? And if so, does that mean that no one should buy an IUL for retirement income purposes? Going up Mount Everest (the accumulation phase):
If you are in the accumulation phase, the IUL can be one of the best policies you can use... as long as it is being max-funded. If you are paying LESS than maximum, it will NOT deliver the income stream you'll really want.
This entire article is based on max-funding either a whole life OR an IUL. Minimum-funded policies are not appropriate for this kind of plan