
Indexed Universal Life
Indexed Universal Life insurance policies can help you to build wealth while leaving behind a death benefit for your loved ones. Has a cap and floor.
Permanent
Yes
Premiums
Remain the
same
Pros
-
Higher return potential
-
Greater flexibility
-
Tax-free capital gains
-
Cash accumulation
-
Death Benefit
Cons
-
Caps on returns
-
No guarantees
-
Fees

Whole Life
Whole life insurance also know as "permanent insurance" is the most widely purchased type of life insurance in the U.S. today, according to American Council of Life Insurers.
Permanent
Yes
Premiums
Remain the
same
Pros
-
Permanency
-
Predictability
-
Tax breaks
-
Cash accumulation
Cons
-
Higher cost
-
Smaller death benefit
-
Lack of investment control

Term Life
Term Life insurance is a type of life insurance that guarantees payment of a stated death benefit if the covered person dies during a specified term.
Permanent
No
Usually 10-30yrs
Premiums
Remain the
same for the term, then increase based on older age
Pros
-
Lower Cost
-
Potential to convert into Whole Life
Cons
-
Not permanent
-
No cash accumulation