Understand the moving parts.

Permanent life insurance combines a death benefit with a cash-value component. Costs, guarantees and flexibility differ by policy. UL and IUL are topics to explore, not automatic recommendations.

• Universal life can offer flexibility within policy terms, but sufficient funding still matters. Indexed universal life uses an index-linked method to calculate interest; it is not a direct investment in the index.
• Policy charges, limits on interest credits, loans and withdrawals can affect results. Non-guaranteed illustrated values may change, and an inadequately funded policy can lapse.
• Ask what is guaranteed, what can change, what you would pay, and what happens if circumstances change. No investment return, tax result or suitability is promised by this page.

Further reading: Texas Department of Insurance life-insurance guide. General education, not personalized financial or tax advice.

New Jersey · Michigan · Texas · Ohio · Washington · Alaska. Product availability and individual eligibility depend on the insurer, policy and circumstances.