Also for what it’s worth my policy officially describes itself as: “Flexible Premium Adjustable Death Benefit Life Policy, Nonparticipating”. This is from KCL, and apparently this is just insurance legalese for GUL, although maybe IUL would be described the same way and the difference is in the details of how the interest rates are calculated?
I seem to recall we went with this because it has the nice feature, like a IUL does, of being able to pay its own premiums if it performs well enough, and for the ability to take out low interest loans against it, although I think that’s a dangerous idea for insurance meant to fund cryonics.
Ah, I have figured out (part of) the mystery! In the time since you signed up, KCL has stopped offering the policy you bought (to new people) because it was too good a deal at current interest rates. Something like that. So in the absence of that IUL is the best option.
Oh wow, interesting. Yeah I get a guaranteed 3% return, so clearly they must be getting less than that now. I’m guessing in a product like I have it can only be backed by certain classes of investments that are not yielding enough return to sustain it right now.
Interesting.
Also for what it’s worth my policy officially describes itself as: “Flexible Premium Adjustable Death Benefit Life Policy, Nonparticipating”. This is from KCL, and apparently this is just insurance legalese for GUL, although maybe IUL would be described the same way and the difference is in the details of how the interest rates are calculated?
I seem to recall we went with this because it has the nice feature, like a IUL does, of being able to pay its own premiums if it performs well enough, and for the ability to take out low interest loans against it, although I think that’s a dangerous idea for insurance meant to fund cryonics.
Ah, I have figured out (part of) the mystery! In the time since you signed up, KCL has stopped offering the policy you bought (to new people) because it was too good a deal at current interest rates. Something like that. So in the absence of that IUL is the best option.
Oh wow, interesting. Yeah I get a guaranteed 3% return, so clearly they must be getting less than that now. I’m guessing in a product like I have it can only be backed by certain classes of investments that are not yielding enough return to sustain it right now.