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Indexed Universal Life Insurance at 43 – Never Too Late

Keys to getting life insurance after heart bypass surgery
Insurance Quotes 2 Day Team

Written By Doug Mitchell

Doug Mitchell, CLU holds a BA degree in Finance from Auburn University as well as having obtained a Chartered Life Underwriter (CLU) designation from The American College in Bryn Mahr, PA.  Doug has spent close to 30 years in the insurance and financial planning industry and has held licenses to sell securities, long-term care insurance, health.  Doug is also a financial blogger addressing the topics of life insurance, annuities and retirement income planning.

Holly Mitchell  &

Holly Mitchell’s background in life insurance insurance goes back to 1985 when she worked for her father who was a New York Life agent. Holly has a marketing degree from Auburn University and has had a life insurance license since 2008. In addition to advising life insurance for customers all around the country, Holly is our website fact checker.

Rob Pinner   &

Rob Pinner is the founder and CEO of Pinner Financial Services servicing all 50 states. Rob started his insurance career in 2002.

Louis LaBash

Results-driven and innovative life insurance professional with 30 plus years of life insurance industry sales and marketing experience. Recognized as a pioneer in the field, leveraging phone and internet channels to exceed personal sales of over $100 million during the first decade of the 21st century. Creator of a highly effective intuitive IUL life insurance sales software that facilitated the sale of millions of dollars of indexed universal policies by numerous life insurance agents. Proven track record as a Managing General Agent (MGA), Life Agent, IUL Life Insurance Sales Software developer, and leading-edge creator of insurance marketing tools, educational content, and delivery systems.

 4 minute read

Tony and Gwen purchased indexed universal life insurance also known as IUL insurance at age 43, here is why…

Tony was 43 years old when his oldest brother passed away.  That day, Tony knew he and his wife Gwen needed some life insurance.  The death was sudden; it was nothing any one in his family could have been prepared for.

His sister in law not only lost her husband, she also lost her way of life. Their family was not ready financially to handle the loss.

The home they lived in was still under a mortgage, they had accumulated large amounts of credit card debt; they were even still making payments on one of their vehicles.

Eventually, these issues had to be addressed. The two vehicles were traded in for a small car that was paid for. Additional loans had to be taken to cover not only credit card debt, but also the costs of the funeral services and hospital bills.

The most difficult change she had to endure other than the loss was moving in with Tony and his wife. She had been forced to leave the comforts of her own home and move into their guest bedroom.

Tony became determined not to leave his wife facing the same predicament. He started doing some research. He talked to close friends and colleagues about what they were doing to prepare for this part of their own lives.

Tony had heard of indexed universal life insurance from us during a previous appointment but had never put any thought or consideration into the benefits of starting his own policy. After making a list of question, Tony and his wife scheduled an appointment to go over the facts and possibilities for themselves Indexed Universal Life at age 43 - never too late

After looking at their finances, going over a budget, and crunching a lot of numbers, we reached the conclusion that an indexed universal life insurance policy should be part of his life insurance package.  We knew that a large term policy was needed, but the benefits of indexed universal life were too great to ignore.

Tony and Gwen decided to purchase indexed universal life insurance at 43

In addition to a cheap term life policy, they decided to have us start two indexed UL policies, one for Tony and another for his wife, Gwen.

After learning that their investment could grow up to 7% a year, they decided to spend $5,000 annually on each policy.

Tony’s policy will have a death benefit that starts at $110,000, and Gwen’s will start at $150,000.  Both policies will continue to grow.  We are buying the minimum amount of life insurance so that the premiums can go to work with very little life insurance expense and grow as much cash value as possible.

At 7% the cash value in Gwen’s policy should be around $235,000 which would give her around $22,000 per year in tax-free income.  Tony’s is just about the same, his cash value at age 65 would be around $230,000, and his tax-free income would also be around $22,000 per year.

Neither of them would ever expect losing the other to be easy. But at least they will be assured that they will not leave each other burdened with the experience Tony’s sister in law was forced to endure.

Working with an Independent Insurance Agent

One of the best ways to ensure that you’re getting the best life insurance company work with an independent broker. Every insurance company is different, and all of them are going to offer you different rates depending on their medical underwriting or rating systems that they use. If you want to save money and ensure that you’re getting the best possible plan, you’ll need to compare dozens of rates before you decide which one is best for you. Instead of wasting hours and hours calling different companies, let one of our independent agents do all of that hard work for you.

Some companies have much higher indexed UL insurance rates versus what other companies do. Finding the perfect company is the difference in getting an affordable plan or one that’s going to break your bank every month.

Unlike a traditional insurance agent, our independent agents work with some of the most highly rated companies. We can help provide you with a personalized set of quotes. You don’t have to spend hours on the phone answering the same health questions. Working with one of our agents can save you both time and money on your life insurance search.

Have you taken the time to make sure your own family will be financially secure in case of an accident or emergency? Not having life insurance is the worst mistakes that you could ever make for your loved ones. If something tragic were to happen to you, and you didn’t have life insurance coverage, your family would be left with a massive amount of debt and other final expenses. We know that nobody wants to think about something tragic happening to them, but it’s important that you give your family the money that they need.

Call us at 1-800-712-8519 or use the quote form to the left to receive a personal quote for you and your family.

We will discuss and show you exactly how indexed universal life insurance at 43 can maximize your money with benefits you cannot receive through an ordinary insurance policy.

You never know what’s going to happen tomorrow, which means that you shouldn’t wait any longer to get the life insurance protection that your family deserves. If something tragic were to happen to you, and you didn’t have life insurance, your family would be stuck with a massive amount of debt and other final bills. Not having life insurance is one of the worst mistakes that you could make, so don’t wait any longer to get the life insurance coverage that your family will need. You can use life insurance for several reasons, as an investment, to supplement retirement income, but the main reason is to ensure that your family will have the money that they need.

Frequently Asked Questions

Should I get a Indexed Universal Life Insurance policy at age 43?

Indexed universal life insurance at 43 can maximize your money with benefits you cannot receive through an ordinary insurance policy. Contact Ogletree Financial Services and we can show you how!

What are the benefits of Indexed Universal Life Insurance?

In addition to providing a death benefit, indexed universal life can help supplement your retirement income, pay medical bills during an illness, pay off debts like credit cards, a mortgage, or help with college tuition. Contact a knowledgeable insurance agent to find out if IUL would be beneficial for you.

What are the disadvantages of Indexed Universal Life insurance?

Every plan has downsides and Indexed Universal Life is no exception. Just like with any other investment, there is always a chance it won’t perform well. With IUL, the returns are based on how well the index does. If the index doesn’t do well, then you aren’t going to get good returns with your policy. Secondly, look out for caps on returns. Just about every carrier is going to set a limit on how much you can make on returns. Each carrier has their own limits, but most of them cap the return rates at around 100%. This means there is only so much you can earn from your IUL policy.

author avatar
Doug Mitchell, CLU Independant Advisor
Doug Mitchell, CLU holds a BA degree in Finance from Auburn University as well as having obtained a Chartered Life Underwriter (CLU) designation from The American College in Bryn Mahr, PA. Doug has spent almost 30 years in the life insurance industry and has also held licenses to sell securities, long-term care insurance and home and auto insurance. Doug is a Top of the Table Million Dollar Round Table member (MDRT).  MDRT is a global, independent association of the world's leading life insurance advisors.  For two years, Doug served as President of the Auburn Opelika Association of Financial Advisors and has been a member of the Million Dollar Round Table. He obtained Life Millionaire status at Horace Mann Insurance Company and was awarded the Life Agent of the Year Award. Later in his career with New York Life he was an Executive Council Member. Doug currently serves as President of Ogletree Financial, a managing general agency serving life insurance agents and clients in all parts of the United States. Today, Doug’s main focus is servicing 1000s of policyholders and growing the agency through the reach of