Long-Term Care Benefits: IUL vs. 401(k) Another key advantage in the index universal life insurance vs. 401(k) debate is the ability to access funds for long-term care needs. Some IUL policies offer riders that allow policyholders to use their death benefit for medical expenses, including nursing home care or chronic illness costs. A 401(k) does not offer this feature, requiring reti... https://www.federalpensionadvisors.com/post/iul-vs-401k