Indexed Universal Life — a universal life policy where the cash accumulation is credited with interest
based on an index such as the Standard and Poor's index. If the index goes
up, you get interest; if it goes down, you do not. Some policies have a
limitation on how high the interest can go and a floor that ensures the
interest rate will not be negative. There are many limitations and provisions
that should be understood by the buyer and the agent selling these policies.