What is index universal life insurance?

Index universal life (IUL) insurance can be a great way to protect your loved ones and their financial well-being while building potential tax-advantaged cash value accumulation — all with downside protection. Plus, flexible premiums1 and optional living benefit riders for qualifying critical, chronic and/or terminal illnesses2,3 and flexibility for additional coverage options that allow you to customize your policy to fit your budget and protection needs.3 And streamlined underwriting means greater convenience, fewer exams, and faster coverage for you. Learn more about the benefits of IUL insurance and how to protect your legacy today.

What can index universal life insurance do for you?

Benefits of an IUL Policy

Life can be unpredictable — we'd do anything to help protect our family after we're gone. Index universal life insurance provides the death benefit protection you need with cash value growth potential. It also gives you the option to access your death benefit early in the event of a qualifying chronic, critical, or terminal illness. See how index universal life insurance is designed to help protect your legacy and your future.

Two IULs — Many Possibilities

Living your best life means knowing your options. That's why we're proud to offer two IUL selections to help meet your needs. What's the difference? See for yourself.


Life insurance designed for high earners who want to maximize cash value accumulation and receive tax-advantaged income distributions (not available in New York).

Policy Form #ICC22 TPIU10IC-0322, or #TPIU1000-0322. Form numbers may vary by jurisdiction.

Funding Your Policy

Designed for those with discretionary income who want to contribute more than their target premium


Minimum Policy Amount


Index Account Options
  • Fidelity Small-Mid Multifactor IndexSM Index Account
  • Global Index Account
  • S&P 500® Index Account
  • Global Plus Index Account
  • S&P 500® Plus Index Account
Loan Options

Conventional loans and index loans

Living Benefit Riders



Life insurance designed for a wide variety of clients who value death benefit coverage, flexible riders, and traditional IUL benefits.

Policy Form #ICC16 IUL09, or #IUL 09. Form numbers may vary by jurisdiction.

Funding Your Policy

Designed for those who want to pay a premium that fits within their monthly budget


Minimum Policy Amount


Index Account Options
  • Global Index Account
  • S&P 500® Index Account

Loan Options

Conventional loans 

Living Benefit Riders


Frequently asked questions

How can the policy accumulate cash value?

FFIUL and FCIUL give customers the opportunity to grow policy value through excess index interest (earnings above the guaranteed minimum rate) that may be credited to the policy based partly on changes in these major stock indexes: S&P 500® Index, EURO STOXX 50® INDEX, and the Hang Seng Index.3 It is important to understand the different account options to see whether this policy is a good fit.

What’s a “guaranteed floor"?

Index changes can be positive or negative. However, with the FFIUL and FCIUL, customers have the security of knowing they will never be credited less than the guaranteed minimum interest rate, or "floor." The floor can protect cash values and helps ensure that segments with positive value will be credited with interest. 

Guarantees are based on the claims-paying ability of the issuing insurance company. There is no guarantee that the any excess index interest will be credited above the guaranteed minimum interest rate for the index account(s).

Are there tax advantages associated with the FFIUL and FCIUL?

Federal income tax-free death benefit

Many people don’t realize there can be tax consequences when it comes to inheriting certain assets. Thankfully, FFIUL and FCIUL provide a federal income tax-free death benefit to help protect families.

Tax-deferred earnings

Any cash value in the policy accumulates interest on a tax-deferred basis. That means greater policy value accumulation potential for customers.

Tax-free transfers

Transfers among accounts inside a policy are on a tax-free basis. Tax-free transfers help protect earnings from the effects of current taxes.

Tax-free withdrawals and loans*

Customers enjoy easy access to their policy value. When the policy value is sufficient, they may request withdrawals or loans to use for any purpose they wish.

Keep in mind that the tax advantages only apply as long as the policy remains in force. Allowing the policy to lapse could result in adverse tax consequences.

What’s a “No Lapse Guarantee"?4

Payment of the minimum monthly no lapse premium ensures that the policy will remain in force during the no lapse guarantee period. However, by paying only the minimum monthly premium, customers may be forgoing the opportunity to build up additional policy value.

Please note, after the no lapse period or if the cumulative minimum monthly no lapse premium requirements are not met, then fluctuations in interest rates and/or policy charges may require the payment of additional premiums to keep the policy in force. Guarantees are based on the claims-paying ability of the company.


Important information regarding S&P 500® Index:


The S&P 500 Index is a product of S&P Dow Jones Indices LLC (“SPDJI”), and has been licensed for use by the Company. Standard & Poor’s®, S&P®, and S&P 500® are registered trademarks of Standard & Poor’s Financial Services LLC (“S&P”); Dow Jones® is a registered trademark of Dow Jones Trademark Holdings LLC (“Dow Jones”); and these trademarks have been licensed for use by SPDJI and sublicensed for certain purposes by the Company. This policy is not sponsored, endorsed, sold, or promoted by SPDJI, Dow Jones, S&P, their respective affiliates, and none of such parties make any representation regarding the advisability of purchasing such policy nor do they have any liability for any errors, omissions, or interruptions of the S&P 500 Index.

Important information regarding EURO STOXX 50® Index:

The EURO STOXX 50® (Index Trademark) is the intellectual property (including registered trademarks) of STOXX Limited, Zurich, Switzerland (“STOXX”), Deutsche Börse Group or their licensors, which is used under license. This fixed indexed life product (“Licensed Product”) is neither sponsored nor promoted, distributed, or in any other manner supported by STOXX, Deutsche Börse Group, or their licensors, research partners, or data providers, and STOXX, Deutsche Börse Group and their licensors, research partners, or data providers do not give any warranty, and exclude any liability (whether in negligence or otherwise) with respect thereto generally or specifically in relation to any errors, omissions, or interruptions in the EURO STOXX 50® or its data.

Important information regarding the Hang Seng Index:

Please read the full disclaimer in the Transamerica Financial Choice IULSM  policy regarding the Hang Seng Index in relation to the policy.

Important information regarding Fidelity SMID Multifactor IndexSM

The Fidelity Small-Mid Multifactor IndexSM 5% ER, also called the Fidelity SMID Multifactor IndexSM, (the “Index”) is a product of Fidelity Product Services LLC (“FPS”). It is a rules-based index that utilizes a dynamic asset allocation approach which blends multiple factors with the characteristics of stocks of small and mid-capitalization U.S. companies along with U.S. Treasuries, which may reduce volatility over time. Fidelity is a trademark of FMR LLC. The Index has been licensed for use by Transamerica Life Insurance Company (“the Company”) in connection with the Transamerica Financial Choice IULSM (“policy”). The Index is the exclusive property of FPS and is made and compiled without regard to the needs, including, but not limited to, the suitability needs, of the Company, the policy, or the policy owners. The policy is not sold, sponsored, endorsed, or promoted by FPS or any other party involved in, or related to, making or compiling the Index. The Company exercises sole discretion in determining whether and how the policy will be linked to the value of the Index. FPS does not provide investment advice to the policy owners, nor to any other person or entity with respect to the Index and in no event shall any policy owner be deemed to be a client of FPS.

Neither FPS nor any other party involved in, or related to, making, or compiling the Index has any obligation to continue to provide the Index to the Company with respect to the policy. Neither FPS nor any other party involved in, or related to, making, or compiling the Index makes any representation regarding the Index, Index information, performance, life insurance generally or the policy particularly.

FPS disclaims all warranties, express or implied, including all warranties of merchantability or fitness for a particular purpose or use. FPS shall have no responsibility or liability whatsoever with respect to the policy.