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If you're going to use a small-cap index like the Russell 2000, you might wish to stop and consider why a good index fund company, like Lead, does not have any funds that follow it. The factor is because it's a poor index. And also that altering your entire policy from one index to another is rarely what I would certainly call "rebalancing - group universal life." Cash money value life insurance policy isn't an appealing asset class.
I haven't also attended to the straw man right here yet, and that is the fact that it is fairly rare that you really have to pay either tax obligations or significant compensations to rebalance anyhow. Many intelligent financiers rebalance as much as possible in their tax-protected accounts.
And of program, nobody needs to be purchasing loaded common funds, ever. It's truly too bad that IULs do not function.
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