Iul stands for index universal life. Its a type of life insurance that allows you to become your own bank. It grows tax free compounding interest on your dollars and without any losses. . The IUL was designed to be maximum funded. It has always been a vehicle for the wealthy to dump millions of dollars into so they can reap the tax benefits. The great news is anyone can take advantage of this type of account. If it’s good enough for the rich, why isn’t good enough for everyone? Set up your free