Start with the coverage purpose
Indexed universal life is permanent life insurance with index-linked crediting features. It is not direct ownership of an index. First identify why life insurance is needed and how premiums fit your budget.
Compare the columns
Ask which figures are guaranteed, which are illustrated, and how charges and crediting assumptions affect values. Ask what funding could be needed if results differ from the illustration.
Examine loans and withdrawals
Ask how accessing money changes benefits, values and lapse risk. Tax outcomes depend on the policy and circumstances; discuss the proposed transaction with your tax professional.
Request a plain-language explanation
Ask for the product documents and explanation of caps, participation rates, charges and surrender provisions where applicable. Do not treat an illustrated income stream as a guaranteed retirement paycheck.