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If you're going to use a small-cap index like the Russell 2000, you might wish to pause and think about why an excellent index fund company, like Lead, does not have any funds that follow it. The reason is because it's a lousy index. And also that changing your entire policy from one index to another is hardly what I would certainly call "rebalancing - gul policy." Cash worth life insurance coverage isn't an attractive property class.
I haven't even attended to the straw guy below yet, and that is the fact that it is fairly rare that you really have to pay either tax obligations or significant payments to rebalance anyway. A lot of intelligent capitalists rebalance as much as possible in their tax-protected accounts.
And of course, no one ought to be acquiring packed shared funds, ever. It's truly also negative that IULs do not work.
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