Can You Sell Your Indexed Universal Life Insurance (IUL)?

Shawn Plummer

CEO, The Annuity Expert

Understanding IUL Sales

What is an IUL? Indexed Universal Life (IUL) insurance is a type of permanent life insurance with an investment component tied to a stock market index. It offers death benefit protection and potential cash value growth.

Selling Your IUL: The Basics Yes, it’s possible to sell your IUL policy. This process is known as a life settlement.

Steps to Sell Your IUL

  1. Eligibility Check: Ensure you meet the criteria for selling your IUL, typically based on age, health status, and policy value.
  2. Choosing a Broker: Select a reputable life settlement broker, like The Annuity Expert, experienced in handling IUL sales.
  3. Policy Valuation: The broker assesses your policy to determine its market value.
  4. Receiving Offers: Potential buyers make offers for your policy.
  5. Finalizing the Sale: If you accept an offer, the broker helps complete the sale process.

Key Considerations

  • Tax Implications: Be aware of possible taxes on the sale proceeds.
  • Impact on Beneficiaries: Selling your IUL means beneficiaries will not receive the death benefit.
  • Fees and Commissions: Brokers may charge fees or commissions.

Conclusion

Selling your IUL is a viable option but requires careful consideration of its implications. Working with a reputable broker can simplify this process. Remember, this decision should align with your financial goals and needs.

Contact us today for a free quote.

Shawn Plummer

CEO, The Annuity Expert

Shawn Plummer is a licensed financial professional, insurance agent, and annuity broker with over 14 years of first-hand experience with annuities and insurance. Since beginning his journey in 2009, he has been pivotal in selling and educating about annuities and insurance products. Still, he has also played an instrumental role in training financial advisors for a prestigious Fortune Global 500 insurance company, Allianz. His insights and expertise have made him a sought-after voice in the industry, leading to features in renowned publications such as Time Magazine, Bloomberg, Entrepreneur, Yahoo! Finance, MSN, SmartAsset, The Simple Dollar, U.S. News and World Report, Women’s Health Magazine, and many more. Shawn’s driving ambition? To simplify retirement planning, he ensures his clients understand their choices and secure the best insurance coverage at unbeatable rates.

The Annuity Expert is an independent online insurance agency servicing consumers across the United States. The goal is to help you take the guesswork out of retirement planning and find the best insurance coverage at the cheapest rates

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