Couple age 55, 59
Husband age 55, purchased an indexed universal life policy with me in 2009. He has full benefits at work (401k, health insurance, short/long term disability, etc). He was diagnosed with cancer in 2015 (since in remission). He wasn’t able to work for 8 months. His wife (59), didn’t work at the time.
During the 8 months of recovery, his IUL paid out $8,500 per month for the 8 months. He was able to see specialists that weren’t covered by group health insurance. They were able to pay all the household bills without worrying about where the money was coming from.
They were able to avoid dipping into their retirement and savings account to pay the bills for a full 8 months before he was able to get back to work.
The true definition of life insurance that you don’t have to die to use.