Question 1

1.) How long does it take for my application to be approved?

Accepted Answer

It can take anywhere from 7-14 business days to get approved for your IUL policy. In rare cases, it may take even longer. This is could be because the underwriting team requests additional information, such as blood and urine samples. To request a status update, feel free to reach out to me.

Question 2

2.) Will I need to submit blood/urine samples to be approved?

Accepted Answer

It depends! Typically, a healthy individual with no major health issues has the opportunity to have their case approved without having to submit an exam or blood/urine. However, underwriting reserves the right to request any underwriting requirements deemed necessary to assess the risk, including paramedical exams, blood and urine, ECGs, and APS reports.

Question 3

3.) How can I view the accumulated value of my policy?

Accepted Answer

The easiest way to view the accumulated value of your policy is through the National Life Group app for iOS and Android devices. If you're having trouble finding it or logging in, please contact your agent for help.

Question 4

4.) When can I start withdrawing or taking policy loans from the accumulated surrender value?

Accepted Answer

For most IUL policies, you're able to withdraw or loan from your policy after the first year.

Question 5

5.) If I take a loan from my policy, do I have to make payments on it?

Accepted Answer

You are not required to pay back loans from your policy, but I highly recommend you do. You may lose out on compounding interest which can hurt your policy growth in the long run.

Question 6

6.) If I maximize funding on my IUL, can it be paid up in less than 10 years?

Accepted Answer

Correct, it can be paid up in 10 years or less. However, you can continue putting more money to compound even more cash value in the policy!

Question 7

7.) Can I increase/reduce my death benefit once my policy starts?

Accepted Answer

You certainly can! The best way to go about this is to contact your agent and request the change.

Question 8

8.) What if I want to add or remove a beneficiary?

Accepted Answer

You can update your beneficiaries at any time. You can go through the carrier's app or request the change through your agent.

Question 9

9.) What is the historical average that IULs have performed?

Accepted Answer

The historical average is 6% to 10% for the IUL. Some years it can be 15% or more and down years like 2008 and 2022 is 0%.

SOLID FINANCIAL PLAN

Juan@ffloneculture.com

832-977-8203

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