Protection Starts With Understanding the Policy

Universal life insurance is permanent life insurance with a death benefit and a cash-value component. Indexed universal life is one form of universal life. Whether it fits your family depends on your protection needs, budget and ability to maintain the policy.

Living benefits and cash value are different

Some policies offer accelerated death benefits for qualifying illnesses or conditions. Eligibility, costs and benefit limits depend on the contract. Accessing a benefit can reduce the amount left for beneficiaries. Cash-value loans are a separate feature with their own terms.

Ask what a loan will cost

Policy loans accrue interest. Outstanding loans can reduce available value and the death benefit, and can increase lapse risk. Tax treatment depends on the policy and how it is managed; a lapse or surrender with an outstanding loan can create a tax bill. Do not assume every withdrawal or loan is tax-free.

Review before deciding

Ask for a written illustration distinguishing guaranteed and nonguaranteed values. Review premiums, charges, crediting limits, surrender terms and what happens under lower credited interest. An illustration is not a promise of future results.

Start your free 2-Minute Protection Review with The Adkisson Group.

Updated October 26, 2026. General education; coverage and benefits depend on carrier approval and policy terms. Sources: NAIC life insurance consumer information and Lincoln IUL illustration — accessing policy value.