Whole Life vs IUL for Retirement Income
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- Опубліковано 28 вер 2024
- Why do I like IUL vs. whole life insurance for retirement? It's first important to understand that your tax rates are likely to be higher when you retire than they are today. My approach to retirement planning depends on accepting this so you can see life insurance through the right lens.
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what about the increasing term insurance costs rising with IUL with changing mortality and administrative costs are all subject to change. How do you handle that?
You structure it properly and use a company that guarantees their expenses.
@DavidMcKnight which carriers guarantee their expenses?
Read the Power of Zero years ago. And that was the reason why I purchased a Whole Life Policy. Did I missed read it?
The Power of Zero book is product agnostic.
I used to have about 500k in CV tied up in several WL policies where I had a GUARANTEED -1% arbitrage loan provision. About 8 years ago I 1035 exchanged all of that CV to several IUL’s where I have a GUARANTEED and FIXED participating/indexing loan rate of 5% for the rest of my life. After 10 years (2 more years left to go) I’ll also have a GUARANTEED wash loan option as well. I’ve been using that CV to ‘infinite bank’ 😱 and I’m overall positive on the arbitrage I’ve received to date. WL gurus love to talk about ‘guarantees’ while selling products with non-guaranteed and variable loan provisions…😅
Which company are your policies through, Allianz? Thinking of starting a policy through them- I see them mentioned a lot
I have a feeling that’s who David issues policies through as well
@@ptc3619 Allianz and Securian. I like both with a little bit of a lean towards Securian, but Allianz’s new IUL is appealing.
Yes who did you get yours through?
Neither, general account products give absolutely no investment control to the consumer. Cap rates and crediting rates can be changed at any moment at the discretion of the life insurance carrier. Variable life on the other hand gives the consumer the ability to have 100% control over their investment choices and it reduces risk by being able to participate in the separate variable sub accounts as opposed to being subjected to the balance sheet risk of one company.