2013 saw a jump in sales for Variable Universal Life and Indexed Universal Life, up by 24% and 13% respectively. Both of these types of insurance incorporate an equity related growth component in addition to traditional life insurance benefits.

In a recent Wall Street Journal article, The Great Life Insurance Temptation, Leslie Scism states:

“Variable universal life can benefit investors in the highest tax bracket who already have socked away the maximum allowable amounts in tax-deferred retirement accounts and similar savings vehicles. Indexed-universal life policies can be helpful to a wider range of affluent buyers making long-term financial plans…

Yet the products aren’t appropriate for many middle-class households, and even well-to-do consumers should wary, according to experts and state regulators.”

Before you invest in any product make sure you have done your homework. It’s your money, your future, and your responsibility to know what you are getting into. variable and indexed universal life quote