These life-insurance policies are booming. Here’s who should — and shouldn’t — buy one.

Indexed universal life insurance policies are gaining popularity due to their unique blend of life insurance coverage and investment-like growth potential. These policies can be particularly beneficial for families looking to build a financial cushion while also growing wealth over time. However, they're not a one-size-fits-all solution; they're best suited for individuals who have a clear financial strategy and are comfortable with some level of market risk. Understanding who stands to benefit most from these policies is crucial in making an informed financial decision.