Consider your health needs, budget, preferred doctors and hospitals, and the specific benefits and coverage options of each plan. Look at premiums, deductibles, co-pays, and out-of-pocket maximums

• HMO (Health Maintenance Organization): Requires you to use doctors within the network and get a referral to see specialists.
• PPO (Preferred Provider Organization): Offers more flexibility in choosing doctors and doesn’t require referrals.
• EPO (Exclusive Provider Organization): Requires you to use network providers except in emergencies but doesn’t require referrals.
• POS (Point of Service): Combines elements of HMO and PPO plans; you need referrals to see specialists but can go out-of-network for higher costs.

Life insurance is a contract between you and an insurance company where you pay premiums, and in exchange, the company pays a death benefit to your beneficiaries upon your death.

• Term Life Insurance: Provides coverage for a specific period (e.g., 10, 20, or 30 years) and pays a death benefit if you die during the term.
• Whole Life Insurance: Offers lifelong coverage with a fixed premium, and includes a cash value component that grows over time.
• Universal Life Insurance: Offers flexible premiums and death benefits, with a cash value component that earns interest.
• Variable Life Insurance: Provides permanent coverage with investment options for the cash value, which can grow or shrink based on market performance.

An IUL is a type of permanent life insurance that provides a death benefit along with a cash value component. The cash value can earn interest based on the performance of a specified stock market index, such as the S&P 500, without directly investing in the market.

• Potential for higher cash value growth compared to traditional whole life policies due to index-linked interest.
• Flexibility in premium payments and death benefit amounts.
• Tax-deferred growth of the cash value.
• Ability to borrow against or withdraw from the cash value.