Hi All,

So, I’ve been under the gun as Jan. 31st is the deadline in California to secure health insurance for the coming year — or pay a fine! For our family of four, we’re looking at between $12-14k in annual premiums. (Puke emoji)

Recently, I started following individuals on IG that advocate Indexed Universal Life Insurance plans because they build a cash value over time that tracks the S&P performance while remaining flat during down years; your cash value would build only by a percentage of the premiums paid.

They tout that the IULs cash value grows tax free and is added to the death benefit when that day finally arrives. You can also take out loans @3-5% against your cash value should you want to take advantage of an investment oppty. Your cash value is not really withdrawn tho, and would continue to fluctuate with the market during good times.

OK…so the reason for the post. It turns out that there are riders that can be added to the policies that give you access to the death benefit for ‘chronic’, ‘critical’, and ‘terminal’ issues that may arise. Thus, it could be used as a substitute for medical insurance.

My question is if anybody here has any special knowledge or experience with these plans?

Disclaimer: I do not work in or benefit in any way from the insurance industry. Let me know your thoughts!!

Hermit