LIFE INSURANCE

Survivorship Indexed Universal Life

Survivorship Indexed Universal Life (SIUL) is an index universal life insurance policy that protects two people (usually a husband and wife). It pays the beneficiaries a death benefit after both policyholders have died. Some of the benefits include:
– A death benefit that is income tax-free
– It is usually less expensive than having a separate insurance policy for each individual.
– Has a cash value component to supplement retirement income that is tax-efficient
– Policy’s interest credit rating will not go below 0% thus will not need to worry about recovering from a market loss
– Very effective and typically used for Estate Planning