IULs for SME? Why or why not?
Hi all, recently we bought an office unit and the bank that we look the loan with recommended us to buy an IUL as a form of keyman insurance, just in case anything happened, at least the payout can cover the full loan.
But the investment returns that comes with the IUL isn’t the best, which is what concerns me.
However, because of the structure of the IUL, we can use it as a collateral if we want to take loans in the future. Ideally I don’t want to take loans, but I guess it might be useful as an option in the future.
I’m not too sure what to do next. Should I go ahead with the IUL, or just buy a term plan and do my own investments instead?
For those who bought an IUL for your business, was it worth it? For those who didn’t, did you regret?