I am looking at a GUL to age 100 at $5400/yr 10pay and an IUL guaranteed to age 90 $6300 10 pay.
My main objective is a lifetime DB, The cash value option if it comes thru is a great perk and inflation protection. I dont really see a benefit of cash value though until the DB starts to grow.
The costs are closing making the decision even more difficult. Worse case scenario with IUL is its lapses at 90 which may or may not be an issue......
I would appreciate any insight especially as to why the IUL is the wrong choice. I feel like the greed of potential growth is luring me in
I should add I have no intention of adding additional funds to the iul once paid up
My main objective is a lifetime DB, The cash value option if it comes thru is a great perk and inflation protection. I dont really see a benefit of cash value though until the DB starts to grow.
The costs are closing making the decision even more difficult. Worse case scenario with IUL is its lapses at 90 which may or may not be an issue......
I would appreciate any insight especially as to why the IUL is the wrong choice. I feel like the greed of potential growth is luring me in
I should add I have no intention of adding additional funds to the iul once paid up