Indexed Universal Life Insurance

Is a type of universal life policy that offers a death benefit coupled with a cash account that can be used to pay premiums, take withdrawals, or take out loans against the policy.  Indexed policies usually provide a floor of 0% and an interest crediting based off of the performance out an outside index such as the S&P 500. Indexed universal life insurance offers a cash value component that is more aggressive than traditional whole life policies and more conservative than variable universal life policies.