Seven Crucial Components of a Well Designed I.U.L. (Indexed Universal Life)
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About this ebook
Is it really possible to enjoy a tax free retirement? The answer is yes - when you utilize the Indexed Universal Life vehicle. The most crucial components to consider when designing an I.U.L. program with your professional advisor include exploring Indexing Options, Cap Rates, Minimum Rates, Living Benefit Riders and the difference between death benefit Option A and B.
The most crucial components to consider when designing an I.U.L. program are more easily framed as questions. Here are the 7 questions an I.U.L. owner needs to consider when creating this contract:
1. How do I get the maximum tax benefits without exceeding IRS guidelines?
2. How do I pick the correct Indexing Option?
3. Which Indexes are available and why should I choose one over the other?
4. What are the Cap Rates and how are they calculated?
5. What is the Minimum Guaranteed Rate?
6. Does the policy have Living Benefit Riders automatically built into the plan?
7. What are the differences between death benefit Option A and death benefit Option B?
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Seven Crucial Components of a Well Designed I.U.L. (Indexed Universal Life) - Allen Sanders
Seven Crucial Components
Of A Well Designed I.U.L.
By
Allen Sanders
Financial Strategist
Copyright © 2016 by Allen Sanders
All rights reserved.
ASIN: B00SKJCG2I
Title: Seven Crucial Components Of A Well Designed I.U.L.
Original and modified cover art by Kasia and CoverDesignStudio.com.
CHAPTER ONE
A Few Stories
Before we launch into the details of designing an I.U.L. contract, I'm going to first share a few stories about clients I have personally helped to set up one or more I.U.L. contracts. These clients have widely varied reasons for utilizing these amazing programs, and you’ll probably identify with at least one of these scenarios. The design elements and technical know-how are important, but these contracts are not just financial technology items: they perform for people. Those end result goals are the main reasons for opening an I.U.L. contract.
Here are a few key examples of how my clients used an I.U.L. to meet their specific goals:
How Do I Create A Tax-Free Inheritance For My Heirs?
Since the 1970’s Alice had worked hard to accumulate over $200,000 in a non-qualified annuity. The cost basis was only $35,000. Her three heirs were set to inherit the account and split it 3 ways, which would have required them to pay taxes on more than $55,000 each. As her annuity was originally set up, the dollar amounts were growing each year, and were exponentially increasing tax liabilities for her heirs. All the additional income would have been added to the gross income of each heir in each