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Is term insurance more suitable than an indexed universal life policy for someone in their thirties with three kids?

I have an indexed universal life policy. I realized it's not a good option for me because I could end up losing a lot of money in the end. The agent who sold me the policy promised returns and cash value growth. But the more research I do, the more I learn about the fees, caps and participation rates involved. Would term insurance be more suitable for me? I have three kids and I'm in my thirties. 

Life Insurance
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February 2018

I am a big advocate for term insurance.  I think the only time you really need any form of permanent insurance is when you have a permanent need or a permanent want.  Nothing you indicated suggests as such.  Instead with three children you likely need quite a bit of death benefit on you and likely aren't getting the appropriate amount due to the costs of your indexed universal life policy.  I would rather see you allocate those dollars to one of two places.  Either A. getting more less expensive term insurance or B. simply invest the rest in traditional investment vehicles.  If you go with option A. I'd spend the time to think through the right death benefit for your children and spouse you deem appropriate.  Then I'd figure out the term worth covering, likely something like 20 or 30 year term policy.  Think that will get you on your way.

February 2018
February 2018
February 2018
February 2018