Which Retirement Plan Is Managed By The Individual Policyholder? 
Non-qualified retirement plans that use life insurance are : current assumption universal life , indexed universal life -LRB- IUL -RRB- and variable universal life -LRB- VUL -RRB- . All three allow the policy holder to manage the death benefit and premiums paid . The last two , the policy holder has policy management options that allow the selection or crediting methods such as domestic and foreign indices for IUL and separate sub accounts that use equities and bond investments -LRB- VUL -RRB- . 