Frequently Asked Questions

Why do I need an appointment to discuss an IUL policy?

An appointment ensures personalized guidance. IUL policies are complex, with nuances like death benefit options, index strategies, and premium flexibility. A licensed agent will assess your financial goals, health, and budget to tailor a plan that fits your needs.

Why can’t I get approved in 10 minutes?

While some insurers offer instant-issue term life policies, IUL requires underwriting (evaluating your health, lifestyle, and financials). This process ensures accurate pricing and policy structure. However, “no-exam” options may expedite approval if you qualify.

Is there a medical exam required?

It depends on the insurer and coverage amount. Policies with higher death benefits often require exams. “Simplified issue” or “guaranteed acceptance” IULs may skip exams but have higher premiums or lower coverage.

How do I qualify for an IUL policy?

Insurers evaluate:

• Health: Pre-existing conditions, BMI, and family history.
• Age: Younger applicants get better rates.
• Income: Proof you can afford premiums.
• Lifestyle: High-risk hobbies or tobacco use may raise costs.

What illnesses commonly disqualify applicants?

Serious conditions like:

• cancer
• heart disease
• diabetes
• kidney failure
• COPD may lead to denial or rated premiums.

However, well-managed conditions (e.g., controlled hypertension) might still qualify.

How can I improve my health to get approved/better rates?

• Quit smoking/vaping (rates drop after 1+ year nicotine-free).
• Manage chronic conditions with doctor-guided care.
• Lose weight to reach a healthier BMI.
• Avoid high-risk activities (e.g., skydiving).

Can I buy an IUL for my newborn?

Yes! Insuring a newborn locks in low premiums and builds cash value early. Steps:

1. Choose a coverage amount (e.g., 
2. 50k–
3. 50k–100k).
4. Provide the child’s birth certificate and medical info.
5. Designate a beneficiary (usually a parent).

How do I grow cash value if I’m not wealthy?

• Pay consistent premiums: Even small amounts compound over time.
• Choose index strategies: Allocate funds to equity indexes (e.g., S&P 500) for growth potential.
• Avoid policy loans: Minimize withdrawals to let cash value compound.

What steps are involved in purchasing an IUL?

1. 1. Consultation to outline goals.
   2. Application and underwriting.
   3. Medical exam (if required).
   4. Policy delivery and premium setup