Indexed Universal Life (IUL) Insurance Fees Explained
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- Опубліковано 27 сер 2024
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Indexed Universal Life is so misunderstood! Make sure you are working with someone who knows what they are doing.
Fees can absolutely devastate any portfolio! They are especially important to understand when it comes to indexed universal life (IUL) insurance!
IUL Crediting: • Indexed Universal Life...
Complexity of Indexed Universal Life (IUL) Fees: The video delves into the intricate fee structures of IUL policies, highlighting the premium load, cost of insurance (COI), expense charges, per face/unit/thousand charges, and rider charges. It emphasizes that understanding these fees is crucial for avoiding policies that result in higher costs and reduced cash value.
Premium Load: This is a fixed percentage fee based on the premium amount, usually ranging between 4-8%. It's applied only when a premium is paid, making it a straightforward but significant part of the policy's cost.
Cost of Insurance (COI): COI varies based on age and risk classification, and it's one of the larger fees in an IUL policy. It's calculated on the net amount at risk, which is the death benefit minus the cash value. The video clarifies a common misconception that COI always increases with age, explaining that effective policy design can actually decrease the net amount at risk and potentially lower the COI over time.
Additional Expense Charge: Identified as the largest fee in IUL policies, typically lasting for the first 10 years before significantly decreasing or disappearing. This fee highlights that IUL policies are front-loaded with costs, making them less suitable for short-term financial goals.
Rider Charges: These apply only if additional options are added to the policy. While they can provide valuable benefits like long-term care coverage, they also add to the overall cost of the policy.
Policy Structuring Impact on Fees: Through side-by-side comparisons, the video demonstrates how the same product and premium can result in vastly different fee amounts and cash values depending on how the policy is structured. It showcases an efficiently structured policy with lower fees and higher cash value versus a poorly structured policy designed to maximize agent commissions at the expense of the policyholder.
Comparison with Managed Investment Fees: The video contrasts the total fees paid in an efficiently structured IUL policy against the fees for managed investments, challenging common perceptions about the cost-effectiveness of life insurance as an investment vehicle. It argues that when considered over a long period, an IUL policy may offer comparable or even lower fees than managed funds, with the added benefits of tax advantages, life insurance coverage, and protection from market volatility.
Empowerment through Education: By explaining the nuances of IUL fee structures and debunking myths, the video aims to empower viewers with the knowledge to identify and avoid bad financial advice. It encourages leveraging available resources, like the "Bad Advisor" ebook, to become more informed and make better financial decisions regarding IUL policies.
This summary encapsulates the video's insights into the complex fee structures of IUL policies, underscoring the importance of informed policy design and challenging common narratives about the cost and value of life insurance as part of a financial strategy.
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Having a properly designed IUL is the most important aspect of IUL designed for maximum cash accumulation. Understanding the fees can help you determine if your policy is properly designed.
Fees... I typically compare multiple companies, make sure I adjust their expected rate of return so they're the same and the same death benefit, then see which company leaves me with the most cash value at the end for retirement.
Some companies have higher initial fees but then outpace over time certain other companies.
can i pay you for a phone call to ask about what i did ? make sure I'm not been screw? thank you
What do you think about American National?
@@Aplscrz There are much better products out there if your goal is max cash and income. AMICO comes no where close to the top.
They put their money contribute to cash value, the fee take all their investment very crazy
This is the best explanation of fees in and IUL I've seen on the web. I especially like how you compared the long-term view of the fees of the IUL vs. managed money. As a series 65 advisor, I value the role that a properly structured life insurance policy plays in a great retirement plan. I believe life insurance is one of the most misunderstood AND under-utilized financial products on the planet--seriously. Bravo for your presentation!
Thanks brother!
What is your CRD#?
Thank you so much!! Just passed my exam and Im practicing how to design a policy, this truly helps.
This video is the golden nugget I've been looking for! Thank you so much for the breakdown! Makes a million times more sense now! Thank you good sir
"the right way" is the best way for the client. I have an increasing IUL so I can add extra income every year without breaking MEC. Once I reach a number in comfortable with I will level off the policy. The right way is the way the client needs it for their lifestyle and place in life.
Thank you for making this so easy to understand without all the jargon and controversy!
I liked the content and revisited after 2.5 yrs. well explained. I want to just highlight one thing: with the evolution of financial industry, the fees on self directed/robo advisor / financial adviser all came down. I would never think IUL best investment compared to low cost index fund with the same funding level, either short term (when considering the front loaded fees) or long term (limited cap and no dividend). But it has many good aspects such as tax free loan, life time protection etc. I think it has unique value in overall financial planning and assets class, I just hate it when agent makes the IUL looks prettier than everything else , the solution for almost everything and convince you to buy one. For investor with discipline, you don’t need surrender charge to make you do so, you can do good with regular DCA approach over time. Just make sure work with a fiduciary like Matt to give unbiased opinion, don’t be carried away by unrealistic expectations and understand what you were trying to accomplish most with IUL!
A fiduciary can't simply put someone in an SP500 index fund because one has to consider risk profile. The index account in life insurance has a much different risk profile than a mutual fund
IULs are LIFE INSURANCE first, investment second. These policies are typically only suitable as an investment in very rare circumstances. If your net worth exceeds $10 million and you have particular tax or estate planning needs, they might make sense. However, for most people, 401k is a better choice.
Source- my bf is a CFP for 20 years.
I am working on my Health and Life insurance license. This is very interesting to me. Thanks for the video.
I've been licensed going on a decade selling the most basic insurance products but recently I've been wanting to learn more about IUL's. This is the best explanation of fees I've seen thus far. I've been terrified of anything with a 'UL' attached to it but I want to learn how to properly structure this product so my clients will be on the right path towards retirement. Thank you!
Thanks!
Hello, just cheking to see how you are doing. Did you start selling other types of life insurance?
I'm also a new licensed Life insurance agent but yet, to kick-off as salesperson for this particular product because of the complexity in the policy. So I decided to purse a while to learn more and more about this product, have better understanding comparison with the index funds, 401k and other retirement vehicles. Because the last thing I want to do is to be able to do a better justice for any clients I'm going to be selling the product too. You video gave me more understanding of how it's works together with other things I have learned from other information I discovered.
Thank you
Glad it was helpful! email us at info@leveragedwm.com if you want to learn more!
Personally, an expense ratio of 1% and 2% is way too high. Whoever's managing a portfolio with those expense ratio rates is clearly not using a sound investment strategy for retirement.
You dont compare what the wrong and right advisor did differently to get those difference in numbers.
I noticed the same thing. Watched that part a few times to make sure I didn’t miss it. That comparison is a key point in this video and was missed. Also, as others mentioned, the death benefit was not shared in each.
@@robertfernandez6763Lol Same bro, I watched it multiple times thinking I missed it.
Yea this video just begs the question.
1) The "Wrong" example he gave a high Death Benefit thus the higher cost and lower surrender value. More Death Benefit amount, higher cost.
2)The "Right" example he gave a low death benefit thus the lower cost and high surrender value. Basically, you over pay the premium so the policy will have more money to invest for your Surrender Value account.
He only told half of the truth.
@@lasereyes555 You are right. The "wrong" version's death benefit should be 1M, but "Correct" version death benefit should be 0.5 M. That is key point.
If you still need to pay those kinds of fees to a manager of a fund AFTER you start withdrawing in retirement, you're doing it wrong. You should already have your account setup to no longer need the constant rebalancing because the account should be all low risk.
Even paying a high fee to get the account setup that way would still end up costing less than your insurance example.
Or you can pay the insurance and maintain pretty great market upside without the risk.
Matt-
I posted on LinkedIn essentially the same thing about two weeks ago. I was more generous to the AUM guys and only had them charging 20 bps (obviously, lower than what we expect) to illustrate that IULs, when properly structured, are the most efficient way to save. I work at an FMO and we compute what we call the “Hurdle Rate” which is all of the costs in the first 20 years of the policy, annualized, and then divided by the illustrated account value at year 20. Similar to an AUM fee. We try to keep them between 100 bps and 150 for clients between the ages of 60 and 68. For older clients’ we have to typically add the death benefit stretch out to get there and sometimes even with that we come in around 170 bps.
Im interested in working with you/your FMO. I like what you mentioned about calculating fees. I am an independent agent.
When you show the comparisons from top to bottom to make the policy as beneficial to the client at 11:00. The way you did this was to decrease the death benefit correct? That is the only thing that changed right? Bottom one had less death benefit, so less fees. And the top one had more death benefit, so more fees? Or was there another variable you changed as well?
Looks like it? He should have shown the death benefit column also. That would have made the explanation more clearer
Awesome video! New agent, and I understand this better now because of your video! Thank you! BTW, do you have a preferred best list of IUL companies that gives the max. CV? Just want to be a helping hand than a greedy agent
I see these comments repeated, in terms of best companies for IUL's, and he never answers them.
He does a lot of company reviews on the channel.
nice explaination. just one question regarding the comparison between money manager fee and insurance fee. The most important for client is the account value after fees not the fees. The problem for IUL is that it's heavily charged in front comparing to MM and it delays cash accumulation.
This is true about the fees, but is also true about market crashes with a money manager!
What causes the fees in the top example to be so different from the bottom example now I know the basics of maxing out cash value and minimizing fees
wow! learned a lot. like the fact that you brake it down to educate those that don't understand the product fully. thank you!
a friend sold me a smart UL from Foresters. whats your opinion on Foresters?
Well..unfortunately I would never buy a cash building product from foresters. It's not their focus at all.
Will you choose getting a term policy or whole life at a cheaper price and invest your money in mutual funds? This IUL hasn't been around that long so I'm still looking for someone that can show they have been able to cash that policy and get their mo ey out 30-40 years later without losing mo ey or having to send a higher premium.just so they can keep their policy in place.as we age our premium starts going up so they start taking a bigger portion of your payments and put it on your policy this means less money is going to your cash value, plus the fees and everything that you would accrue as you get older. Isn't that risky?? Will really appreciate your feedback
I don’t recommend 1 strategy as the end all be all. You should have several different buckets of income. The IUL risks don’t scare me assuming the policy is designed right. That’s a big assumption...
You didn't show us how to do it the right way.
How is the illustration done on the wrong one vs the right one?
Thanks!
I think he just structured one with a high death benefit the other with a lower DB and max funded
Can you give us some advice on what to look for in determining whether our advisor is structuring the fees on our plan correctly? I don’t understand the mechanics of why your examples each result in the $70k fee difference. Thank you very much!!
Mariela, go take my really short quiz and get your policy reviewed for free!
leveragedwm.com/iul-review
you didnt say what you actually did to the policy to change the fees. Its the Face amount that you changed that affects the way the company charges fees. Is this correct?
Generally speaking, you are correct. Some carriers also give the option of what % of premium is commissionable.
So in order to minimize the COI charge in the future, is a level option of IUL (or option A in some carriers) is better than increasing death benefit (option B) due to the gap between the cash value and death benefit will be smaller over time? Please correct me if im wrong, thank you so much.
Start with B (using a min DB solve) switch to A after premiums are done being paid. Experiment with using option C all the way through (if available).
@@thegodpill9696 I'm confused here..I thought the more death benefits increased the more premiums increase as the policy and insured ages. With an increasing death benefits the current policy need to be funded to support that. I thought a level death benefits would have less fees since the cash value is growing which mean less fees as you stated about the subtraction of cash value from the face amount. Please help.
Which strategies did you use on the bottom example?
You didn’t seem to mention the death benefit on both. Are they the same?
i have same question
art kesh no
Very good explanation. Can you specify how you came up with the cost of insurance numbers in top and bottom in the example? Is i it based on death benefit (face amount)? i am guessing death benefit is high in top example and death benefit is low in bottom one. Is that correct?
I just started educating myself in the area
Nice!
Yes. I am selling these products in Los Angeles. Great products from Nationwide, TransAmerica and other stable insurance companies. Having worked as an Investment Accountant for insurance companies, I know insurance companies are better investors than banks and investment companies in general.
Insurance company paper is some of the most stable paper in the world. No one else is forced to have reserves like an insurance company. If I were you I would add to your stable of companies...
I have an IUL. But how do I know as a 41 year old smoker what fees are high and what are best possible? In year 4 of a fully funded IUL so I’m hoping I have done the right thing here.
Feel free to send over your policy to be reviewed for free! We also have lots of videos for simple things to look out for.
Here is one of them: ua-cam.com/video/XKgqA_mlHwc/v-deo.html
Question - Is it illegal for life insurance agents to talk about or sell an insurance policy as an "investment?" I've had FEG agents trying hard to sell IULs are an investments
The worst part of your comment is "FEG" I don't care how they phrase it.... I've yet to meet one that really knows what they are doing.
@@CashValueLifeInsuranceReviews
You are correct. The VAST majority of recruits are first generation from southeast asia, who do not have college/business degrees and with limited english. They trget a niche market of those older uneducated, nonenglish speaking adults (forget understanding business language).
I saw one guy promise 30% return on a product (100% certain it was IUL). He was selling it like an investment which we all know insurance is not an investment
RiverRuns NC these MLM companies that sell insurance remind me of the movie "boiler room". That scene when they kick out the kid who already has experience as a broker?
They kick him out because he won't buy their BS. If you've seen the movie... You know it doesn't end well.
@@CashValueLifeInsuranceReviews I saw the movie and know exactly what you're talking about.
its a good movie! and it's scary how comparable the situation is.
I believe you get to adjust your face amount after year 3. If you decrease the face amount (To reduce the monthly cost) does 15 years surrender value limit starts from 0 or continue counting over 3 years?
It shouldn't, but we can't speak for every carrier.
Fantastic video. I take it in that first example the top was Level DB and bottom was Increasing switched to Level once premiums stopped?
Humm.. You are not showing the true impact. Example at the first year of the managed fund you have the $30,789 contribution plus interest of 6% =32,600 less $326 at 1%.. you only have 27,616 working for you in the IUL. The end of the second year $65,500 less $655 = $67,156 in the manage fund compared to only $56,500 in the IUL
Wait. You should the fees for the tactical amount but not how much money the tactical account would have assuming the same rate of return.
You might pay more in fees but the account could also have a lot more money??
I didn't show it because that's not the comparison I was making.
@@CashValueLifeInsuranceReviews true. You're just big on transparency and not showing the full picture is kind of not being fully transparent lol. Great videos though
@@victorespino5650 It's relevant to the overall picture, but not to fees in an IUL. I've done other videos on the subject.
Thanks for sharing this. You mentioned in your video that you have created a document for us to download for the notes but I cannot find it. May I know how I can get your notes on fee?
Subscribed for all the useful information
Where do i find your Bad advisor Ebook?
15:48 the cost of insurance is cheaper than a MN charges 1% and the cash in the IUL taxed free.
How much are the death benefits for those two policies?
Dude. Transparency. Thank you. I can send this to the agent's I'm training. I should give you a % of business forever, haha! We're the #1 distributors of National Life Group. Thank you!!
Thanks brother!
You with PFA??
No.
Matthew Decker not you the other guy lol
Man, if you are going to compare fees in a 50 years span, you have to do net present value not simply sum it up.. front load of 5000 the first year worth’s several times of that 50 years later
You are certainly welcome to.
So what’s an asset charge? Is it include in the additional expense? If yes, so how can the asset fee is going down year by year since the accumulation value and cash value is growing every year. If the asset charge is not include in the addition charge, so where we can look for it. And I think, You should have run the illustration longer, we might see a lot difference in a longer term and you should have show a death benefit too.
how can you make it happen when you compare the same company and the same insurance product and ends up with different cost. I guess the bottom insurance face value is less than the top one
What is the rate of interest for this projected illustration shown in the video. It would help me to understand better with the values I have. Also while explaining the costs in The later part between money manager and iul why did you choose the 30000 per annum ? Any specific reason?
Great video. What is the death benefit for the policies? it was not stated
Hi did you use a YRT or level cost insurance? Also what rate of return? Thanks.
In a UL you don't have a choice. Its all built on YRT. But the YRT rate is based on net amount at risk (which should be a decreasing number). Rate of return was the historical rate for the carrier. I believe between 6-7%, at this point I don't recall specifically. Rate of return has little to do with the fees other than influencing net amount at risk.
I think it’s suitable to compare fee schedules between an index fund and an IUL as long as you compare the end results as well. Obviously the IUL is not exposed to downside risk, and any down year could drop a IF’s assets by 30% and throw things off for a long time, damaging the rate of compounding. In this case you are certainly able to compare the two (just as you did between the IUL and the MF) because they are primarily investment vehicles at this point. By structuring an IUL in the proper way one is basically opening the doorway to secure compound growth, while there’s an extra cost of insurance that increases annually. The bottom line is that they’re both investment vehicles with different advantages and disadvantages.
Hi Matt, why is the cost of insurance is slightly higher on the RIGHT policy at age 66 compare to the WRONG polish? You said that the cost of insurance is determined by age and risk class, can you compare the cost of insurance for different risk classes for a 50 yrs old male?
If the life death insurance is 300k coverage, we don’t need a 200k fee charge, money traps,
They have cash out all cash value don’t feel safe with the fee charge ..,
$30,789 x 14 years =$431,046 Surrender value @ age 69 $595,955 = $164,909 (gain) divided by $431,046 =38.25% growth divided by 14 years = 2.7% average rate of return. Very low rate of return! USA Male life expectancy is 78. When do you plan on withdrawing these funds? If this is being left to the family there are better programs. The author is saying this is great accumulation, please explain? What is the DB for this example?
Your math is bad. It’s about 4.797% if you are looking solely at accumulation in 14 years.
You quoted life expectancy at birth (age 78). As people make it to a later age, their life expectancy increases. It's probably mid to late eighties at least.
Your excluding the premium load in the fee is incorrect and misleading.
Adam what’s a premium load? And what are fees associated with it?
What if your Death benefit is an increasing policy does the cost of insurance stay the same?
IUL will never make 10% a year over a long period of time.
Doesn’t need to.
Would the fees be far less if u front load the policy with a large sum of money and set the death benefit to the same number as your cash?
Great video!👍
If you are a 42 year old preferred smoker, are the fees going to be much higher?
This is shady- the total fees comparison doesn’t take into consideration the total value of the persons portfolio which would be significantly higher then the cash value of the lUL.
Weak! And speaks to why life insurance reps are known as shady.
I dont see the ebook for bad advisors???
Took it down for compliance reasons. I was too hard on some Broker Dealers.
Cash Value Life Insurance Reviews Is there any way we can access it? Or maybe just parts of it?
Do Mutual Funds work better then IUL?
Esequiel Barragan certainly for some things!
@@CashValueLifeInsuranceReviews ha ha sending you off
@@janetl4 Thanks for the send off!
Prudential is very transparent. I wish all IUL illustration shows all the fees and cost.
Yo Big Sexy, most companies will separate out the costs for you.
So what did you do to come up with the WRONG numbers vs the RIGHT numbers? I’m a licensed agent and I want to know how to set it up the right way. Thanks
Left is likely a higher death benefit. Its the only reason insurance charges would be more.
Good Idea Sir
???
IUL = What option you want?
How the rider cost?
Good information
Could you explain how the interest credited is calculated from the illustrations you showed?
interested is crediting on the ACCOUNT VALUE after fees (typically)
Cash Value Life Insurance Reviews its an ilustration haha those numbers are never real. As a financial planner i always see people lose money on this.
Are the commissions (sales) higher for P&C or Life/Health/Annuities etc? Thank you
well...It's totally different. P&C pays you every year. No idea on health. Most Life/Annuity pays one time.
What is the Death benefit on both polices? I don't see it
It is not listed on the videos, but by viewing the cost of insurance charges, you can see the death benefit is lower on the correctly designed policy. Thanks for watching!
Feel free to take a look at other videos on my channel that highlight the death benefit amounts.
I'm a Life Insurance Agent and this shit confuses the fuck outta me.
How are you doing in the insurance industry currently?
if a policy is designed to age 120 and you live to 125 are you stuck with a tax bill???
No. thanks for watching!
@@CashValueLifeInsuranceReviews so what happens. I've heard of whole life policies that are designed to 100 and people living over 100 and ending up with a tax bill.
What happens when you die? Does your family keep the cash value + death benefit or is it one or the other
The cash is included in the Death Benefit column.
Aren’t there fees in most accounts? Those other accounts don’t have the feature of never losing money
yes
Hmmmm....I thought commission is based on the first year TOTAL premium paid?🤔
incorrect
Can you help me and look at my policy?
yes I can.
Ok great! When would be a great time for you?
@@hillrobert889 Sunday or Monday. Do you currently have an IUL policy?
Yes
Ok what does it look like for you Sunday or Monday?
In your opinion, what companies have the best IUL products?
I'm more concerned with the products being structured the right way. There are 5-6 that you could make a case for. I hesitate putting what I think in the comments because things change. Quickly.
DM me matt@leveragedwm.com and I'll give you my thoughts.
Cash Value Life Insurance Reviews thank you!
Question your thoughts on National life group?
Sorry just noticed you mentioned great death benefits riders. But bad because of the snp500 that they allocate? but the fact that they have the 'no loss o yield' isn't bad right?
Can this be viewed as a better option of a IRA let's say with Vanguard? For the intention is to create a type of investment option?
Many thanks!
Dude your example at 14:28 is crazy, why dont you only run the numbers until 70, when you have to start withdrawing? This skews your data because at 70 you would have only paid 51,121 for the 1% and double that for the 2%, but in the IUL you would have paid 108,509.
I have the fees for all years listed. The IUL is front loaded...I'm not sure I understand your point? The IUL will always have more fess short term. That's the nature of a front loaded solution.
Where do you download the Bad Advisor ebook?
Maybe he was referring to this book: www.amazon.com/Bad-Advisors-Identify-Them-Avoid/dp/0984230858
From the illustrations you showed, it looked like the premium load went away after ten years, just like the additional expense charges. Is this common or was what you showed an exception? Or, was I imagining the whole thing.
You pretty much got it. Most will go away after 10-12 years (expense charge). Premium loads typically exists as long as premiums are paid (there are a few exceptions).
What do you think of FEG....Freedom Equity Group?. I've recently contracted with them and they do sell primarily IUL's. I'm not sure yet how they structure them yet. I prefer the Efficient way for my future clients. I want to be a Good trusted advisor. Thanks for your Video.
I think they are terrible. Good sales process, but typically lesser educated agents that don;t know what the are selling. Don't drink the kool-aide
I agree as I was approached by them and their philosophy as well. Just make sure you do your due diligence on the company, and make sure their beliefs align with yours.
I suggest you attend the trainings and their IUL university. You will learn a lot, including COI and charges, investments, etc. You will be more empowered, thus structuring the best IUL strategy for your clients.
I've had agents from FEG try to sell an IUL policy to me, BUT they spoke more of the "investment" than the life insurance. Talking about floors if market go down and my account won't lose value, promising 8% annual returns.
Forgive me for asking - isn't it illegal for life insurance agents to talk about or sell an insurance policy as an "investment?"
@@pywifishingandoutdoors Yes.. lots of Hmongs and Laotians are all on board will Gillis, misrepresenting or misleading the hardworking Laotians/Hmongs because they barely speak english let alone insurance and investments.. SMH!!!
I mean even with a "higher commission" the end game for example 1 still pays out $610,590 more than the customer had to begin with... that doesn't sound too bad or am I missing something?
More of a good, better, best scenario. Why give the agent more commission at the expense of the client?
Gotcha thanks for the response and I agree. I don't think profit should outweigh customer needs
@@CashValueLifeInsuranceReviews So how much should an agent get paid then? Agents need and deserve to get paid, but clients need to have a reasonable premium and a policy that works for them. Where is the happy medium?
Depends on what the goal of the product is. If the goal is max cash accumulation, the agent should get paid the absolute minimum that the IRS requires. This rarely happens as most agents are extremely greedy. They think they "deserve" to be paid more. Really? How about the client DESERVES to get the best deal?
It's such a "no-brainer" to me.
The average person dont have 31000 in premiums per year to invest in whole life ins. please use a more resonable amount per year that way the great mayority of people can get into the game of life insurance. Believe me use 3000 to 5000 to get your point across per year and i bet you the great mayority of males and females understand a lot more about life policies. Use the 30000 or 50000 when you talk to the rich.
I am talking to high earners.
Its better when you sow the right number.it will increase the entusiasm in people like me.
plesase dont@@CashValueLifeInsuranceReviews
@@rodrigomontoya9370 Thanks for the feedback. I respectfully disagree.
understood. thanks@@CashValueLifeInsuranceReviews
This comments section is juicy!
Hello, I love the breakdown of the UIL, I am considering on becoming an agent with National Life Group, what are your thoughts on this company?
Why be captive? Go independent and write whomever you want.
Omg thank you
Welcome!
So is IUL worth it or it’s worth putting money in Roth IRA and term life Insurance
And also have u heard a company world financial group and wats ur opinion on them
@@salvadorsalgado222 He said WFG is bad, that he spoke to 100's of agents. He says Pacific Life is expensive, Transamerica sucks, no answer on Nationwide and about National Life Group (who I never heard about), "it depends on what you're looking for". Does that make sense?
I am wondering who can afford to put $30,000 in IUL every year.
JINYANG ZHOU many people
Obviously this is a product for wealthy people. But the problem is financial advisors sell this to anyone and of course when you don’t put this kind of money ($30,000) the returns are horrible. Most of the time these policy lapses by retirement age. I’haven’t seen any decent IUL policy. If you would invest your money in an IRA it would have a way better return! There are too many fees involved on the IUL. !!!
Susylu M you’d be surprised. A lot of people who just make decent money and are sole providers of their family but maybe have a risky job like construction, will do this to make sure their family is taken care of in case of an unfortunate event. A lot of people also get insurance around 40+ so usually financially established with savings, really case by case, depends on your risk, insurance company, and state provisions & agent like the guys in the video said. Do your research forsure, at least talk to multiple agents to weigh your options. Health insurance on the other hand is different but kinda a risk worth investing sometimes considering hospital bills without insurance can put many in debt. It’s really a choice at the end of the day, insurance is just a transferring/sharing of financial risk and one that shouldn’t be chosen blindly.
Where can I get a good policy? This guy from WFG is trying to sell me an IUL. I want the best cash value I'm not to concerned with the death beni
Stay away from WFG. They are probably recommending Transamerica? you can email me if you'd like to see some options. matt@leveragedwm.com
@@CashValueLifeInsuranceReviews , what's wrong with WFG, or Transamerica?
I've talked with hundreds of WFG reps. yes, hundreds. They seem to be some of the least educated in the industry. Which results in clients getting poorly structured policies. Transamerica has a second rate product. It's not even close.
Don't get WFG or Transamerica. There are better products than what they're selling. :)
@@kchrisph , what products are those?
Fee is free they get it free is fee
What do you think about national life group
Hi Cindy. Depends on what you are looking for. Great living benefit riders, but they have bad loan provisions and are more expensive than others. Plus nearly all their strategies are tied to the S&P no real diversification.
Matthew Decker if not the S&P 500 then who? Just asking. I thought the 500 was good but let me know.
It is good. Why not have other options on top of it? Especially if better carrier offer more options.
@@CashValueLifeInsuranceReviews You look like you put a lot of effort into being responsive with your viewers. Thank you for your effort! Can you explain what you mean by bad loan provisions? I watched your video on accessing the cash value and I have matched it up with what I see in the NLG Flexlife II Product guide - Standard Loan, Participating Fixed, and Participating Variable. What am I missing?
@@kenyie8080 what happens to the money if you choose a fixed par loan?
how caN i coNtact u???
Leveragedwm.com/iul-review
I couldn't even finish this video!! 😂🤣 cash value agents are ridiculous.... "the frees vanish" Umm no the 500 dollars. Just BUY TERM INSURANCE & INVEST THE DIFFERENCE INTO A ROTH IRA
I actually did a video on that. Feel free to check it out. I recommend a ROTH IRA.
The illustrations show that my policy - the guarentee colon is 50 years old but nonguarentee colon is 120 years for death benefit , so if i die after 50 years can i get death benefit face amount? please i want to know
I would need to see a copy of what you are looking at.
Get rid of your IUL and get a term policy and invest your money somewhere else... You’re going to get screwed overtime.
Raul, thanks for the comment. Even though its ignorant.
Get teen it’s cheap. Lmao these people sound brainwashed. At least do your due diligence first know how both term and IUL work but people don’t do that they lazy. You just buy a car probably and not read the truth and lending portion and you’ll say no. Foh You gotta read first at least
Right on.
if the premiums were smaller, I bet the mutual fund fee will be less
With a lower premium ALL fees would be less for nearly any vehicle on a dollar amount basis. Correct. The fee as a % would be almost the same.
Mutual fund fees are proportionate to account size. I'm not sure what you are going for.