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Reader’s Question:
What are equity-indexed universal life insurance policies? My friend from California mentioned it but I’m not sure if it’s being offered in San Antonio Texas – is it?
Sarah
San Antonio, TX
Hi there Sarah! Your friend seems to know quite a bit more than the usual about life insurance policies. I’m not exactly sure where I should start. Let me begin with the basics, though.
You see, universal life insurance is a form of permanent life insurance coverage. Permanent means that your policy will remain in effect until you either fail to pay your premiums or your life insurance policy pays out. It’s a flexible fund in that you can combine a variety of investment portfolios from the standard low-risk government bonds to the more high-risk funds traded in the stock market. Now, equity-indexed universal life insurance, or EIUL, refers to a variation of the fixed universal life insurance policy which was intended to provide a more secure investment option to the usually volatile stock market mix by crediting interest to the policy’s cash values based on the rise or fall of a chosen stock market index.
I’m not entirely sure whether companies in Texas specifically offer this type of universal life insurance; hence, I suggest that you enter your zip code to the forms on this site to find out. You can also get free quotes and access to information by clicking on the links.
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