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Q&A’s to COPY and PASTE!

What exactly is an Indexed Universal Life (IUL) Insurance policy?

An IUL policy is a type of permanent life insurance that offers the death benefit of traditional life insurance plus a cash value component. The cash value can grow based on a selected market index, such as the S&P 500, without the risk of losing principal due to market downturns.

 

How does the cash value in an IUL policy grow?

The cash value is linked to the performance of a market index. If the index performs well, your cash value can increase up to a certain cap. If the market goes down, your principal is protected, and you won't lose money due to market declines.

 

Are there any risks involved with IUL policies?

While the principal investment is protected against market downturns, it's important to understand that caps on earnings and fees can affect the overall growth potential of your policy's cash value.

 

Can I access the cash value in my IUL policy?

Yes, you can borrow against the cash value of your policy, often tax-free. This can provide financial flexibility for expenses like education costs or retirement income.

 

What makes Fidelity Insurance's IUL policies stand out?

Our IUL policies are backed by a solid foundation of over $150 billion in life insurance issued, a nationwide network, and a team of licensed experts. We offer personalized service and policies tailored to meet your unique needs and goals.

 

How flexible are premium payments with an IUL policy?

IUL policies offer flexible premium payments. You can adjust the amount and timing of your payments to fit your financial situation, within certain guidelines.

 

What are the tax advantages of an IUL policy?

 IUL policies offer tax-deferred growth of cash value and the potential for tax-free loans and withdrawals, making them a powerful tool for long-term financial planning and wealth transfer.

 

Can I use an IUL policy for retirement planning?

Absolutely. The cash value in an IUL policy can be used as a tax-free income stream in retirement, providing flexibility and security for your retirement years.

 

Is there a guaranteed return on the cash value component of an IUL policy?

 While the principal is protected from market losses, returns are not guaranteed and are subject to caps and participation rates. However, the floor guarantees that you won't lose cash value due to market downturns.

 

How do I choose the right index for my policy's cash value growth?

 Our team of experts will work with you to select an index that aligns with your financial goals and risk tolerance, ensuring your policy is customized to meet your needs.

 

What happens to my IUL policy if I can't make premium payments?

Policies have features like a grace period and the ability to use the cash value to cover premiums, providing flexibility during financial hardship.

 

Can I increase the death benefit of my IUL policy later on?

Yes, you may have the option to increase your policy's death benefit, subject to insurability and other terms of the policy.

 

Are loans against the IUL policy's cash value taxable?

Loans are generally not taxable as long as the policy is in force, offering a tax-advantaged way to access funds.

 

What are the fees associated with an IUL policy?

 Fees can include premium charges, administrative fees, and the cost of insurance. We believe in transparency and will clearly outline all fees.

 

How does Fidelity Insurance support policyholders?

With over 487 licensed experts and a commitment to personalized service, we're dedicated to guiding you through all stages of your financial journey.

 

What is the minimum investment to start an IUL policy with Fidelity Insurance?

We offer a range of entry points to suit various financial situations. It's best to discuss your specific needs with one of our advisors.
 

How does the death benefit work in an IUL policy?

The death benefit provides a tax-free payment to your beneficiaries upon your passing, offering peace of mind and financial security.

 

Can I add riders to my IUL policy?

Yes, we offer a variety of riders, such as long-term care and disability waivers, to enhance your policy's coverage.

 

How does Fidelity Insurance ensure the security of my policy?

We're backed by a strong foundation, licensed in all 50 states plus territories, and committed to upholding the highest standards of integrity and security.

 

Can I change the index my policy is linked to?

Policies often allow for changes to the indexing strategy, giving you flexibility as market conditions or your goals change.

 

What's the process for filing a claim?

Our streamlined claims process is designed to be efficient and supportive, ensuring your beneficiaries receive the benefits they're entitled to without unnecessary delay.

 

How often can I adjust my premium payments?

You can adjust your premium payments annually, offering flexibility to adapt to your changing financial circumstances.

 

What's the difference between an IUL policy and traditional whole life insurance?

Unlike traditional whole life insurance, IUL offers the potential for higher returns through its link to market indexes, along with flexible premiums and the ability to adjust your coverage.
 

Can I convert my term life insurance policy to an IUL policy?

Many policies offer the option to convert from term to IUL, allowing you to transition to permanent coverage without a medical exam.
 

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What's the impact of taking a loan on my policy's cash value?

Taking a loan reduces your policy's cash value and death benefit but offers tax-free access to funds. It's a flexible feature to manage financial needs.
 

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How does Fidelity Insurance maintain its competitive edge in the market?

Our deep industry connections, nationwide network, and dedication to personalized, innovative solutions set us apart in providing valuable insurance products.
 

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What long-term care options are available with an IUL policy?

You can add a long-term care rider to your policy, providing benefits to cover long-term care expenses, a critical aspect of financial planning.
 

How does an IUL policy affect my estate planning?

 An IUL policy can be a strategic part of your estate planning, offering a tax-efficient way to transfer wealth and fulfill your legacy goals.
 

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Can I use the cash value of my IUL policy as collateral for a loan?

Yes, the cash value of your policy can serve as collateral, providing financial flexibility for large purchases or business opportunities.|
 

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How can I get started with an IUL policy from Fidelity Insurance?

Contacting one of our licensed experts is the first step. We'll guide you through the process, ensuring your policy matches your financial goals and needs.