82 • MARTIN H. RUBY
Objection: Health and Age "I'm too old or not healthy enough for life insurance." Truthful Scale: **
IUL—like all insurance—is an underwritten product. That means you have to qualify for this strategy. Age and health can im- pact this qualification, so be sure to speak with your advisor about your individual situation. I will make two general statements about the impact of health and age on IUL. The first is that many baby boomers—including myself, my wife, and the hundreds of savers I've helped with this strategy—qualify for IUL. These strategies can look very attractive even for older savers or savers with some health issues. So, don't disqualify yourself; speak with an advisor who's knowledgeable in this area. Second, there are adjustments that can be made to this strategy if you and / or your spouse do not qualify for IUL. You can still ac- cess tax savings for you and your heirs. This is one reason I en- courage all savers to work with an advisor who is experienced in tax-efficient retirement planning. The bottom line? You owe it to yourself to learn how—and if— this strategy could benefit you in retirement. Objection: Expense “Never use insurance to save for retirement. It’s so expensive!” Truthful Scale: * Here’s one of my favorite myths about IUL, because it’s so easy to dispel. There’s a common refrain that life insurance is too ex- pensive to use as a savings tool. What this means is that life
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