Determining an illustrated rate in Indexed UL is more art than science. Unlike other general account life insurance products, many companies are not capping Indexed UL illustrated rates at the current fixed account crediting rate, even though all Indexed UL products offer a fixed account. Instead, Indexed UL illustrated rates differ across products and carriers. So how might you determine an illustrated rate for Indexed UL that provides for meaningful comparison to other life insurance contracts? Fundamentally, any performance projection for Indexed UL relies on a set of assumptions about equity performance and product parameters. The more assumptions you make, the less comparable your illustrated rate will be to other life insurance products. This article walks through three ways to look at illustrated rates on Indexed UL by progressively making more assumptions about equity data and policy parameters.