Did you know the lawsuit industry is $233 billion dollars strong in the USA?
The number of lawsuits is rising, too. When economic times get tough, some people see a civil suit as an easy way to get rich. Lawsuits always target those who have money and not just big corporations, either. Small businesses, successful entrepreneurs, physicians and wealthy individuals all fall into the crosshairs of litigation lawyers. As every law student learns at some point: “commercial success spawns litigation.” Everyone wants their money.
Is there a life insurance policy that can solve everyone’s needs, whether it is low-cost death benefit protection, premium flexibility and/or solid cash value accumulation potential with very good contract guarantees? Is there one that fits everyone’s investment horizon and risk profile? Is there one that can satisfy a customer in a low-interest-rate environment when commodities such as oil are at record levels and the stock market remains extremely volatile?
For a professional such as a doctor, attorney or CPA, the Indexed Universal Life is perfect for your retirement needs. Often as a professional, you operate as a P.A. being taxed as a sole proprietor, an S Corporation or a C Corporation, and under the tax codes you are limited to retirement account choices. The SEP IRA, Solo-401k or the UNI-401k, all allow you to save on a tax-deferred basis; but the maximum contribution limit is still the same $49,000.00. Now let’s explore the IUL (indexed universal life) and why it is a better choice. As a professional of these types, your income level is much higher than average, so you max out your contribution very early in the year. With the IUL, there is no limit on how much money you can contribute - the money still grows tax-deferred, but with a several advantages.