Is index universal life better than a term life insurance policy?

Index universal life (IUL) insurance and term life insurance serve different purposes and have distinct features. IUL offers lifelong coverage with a cash value component that can grow based on a Stock Market index, providing potential for investment growth, but it often comes with higher premiums. In contrast, term life insurance is typically more affordable and provides coverage for a specified period, making it suitable for those needing temporary protection. Ultimately, the better choice depends on individual financial goals and circumstances.