A Closer Look at Single-Premium Indexed Universal Life Insurance

People depend on life insurance for many reasons. Some households use it for income protection, as they have children or other dependents for whom they provide. Retired and middle-aged working individuals may use it for legacy or estate planning goals. It could be part of a broader legacy or estate plan, as the tax treatment of life insurance allows for an efficient transfer of wealth to loved ones.

Depending on your goals, life insurance comes in many forms, and one is Single-Premium Indexed Universal Life Insurance. It's also known as "Single-Premium IUL," or even just "SPIUL." Let's take a closer look at this universal life insurance option and what it might have to offer.