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Description
A 401(k) and an Indexed Universal Life (IUL) insurance policy are financial tools with distinct purposes. A 401(k) is a retirement savings plan with pre-tax contributions, tax-deferred growth, and potential employer matching, designed primarily for long-term retirement savings. On the other hand, an IUL combines life insurance with an investment component, offering tax-free withdrawals and death benefits. It provides cash value growth linked to market indexes with flexibility in premiums and death benefit adjustments. While 401(k) plans are straightforward and focused on retirement, IULs offer more complexity and additional benefits like life insurance. Choosing between them depends on your financial goals, risk tolerance, and need for life insurance coverage.
https://seventi102life.com/indexed-universal-life-insurance-iul-vs-401k-a-comprehensive-comparison/
https://seventi102life.com/indexed-universal-life-insurance-iul-vs-401k-a-comprehensive-comparison/
Country
United States
State/Region/Province
Colorado
City
Allenspark