Whole Life Insurance vs Universal Life Insurance: Which is Better? | Wealth Nation
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- Опубліковано 30 чер 2024
- Whole Life Insurance vs Universal Life Insurance: Which is Better?
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The views expressed are educational in nature and not intended to provide investment advice. Should you have a question, it is always best to consult with your financial or tax professional. The discussion with Andrew represent general thoughts and not specific to any particular situation.
The name “Prevail” references independent services offered by Prevail Innovative Wealth Advisors, LLC (Prevail IWA), Prevail Strategies, LLC, and Prevail Alternative Assets, LLC (PAA).
Prevail Innovative Wealth Advisors, LLC, is a federally registered investment advisor. Registration with any securities authority is not an endorsement of the services offered by the investment advisor. Fixed insurance products and services are offered through Prevail Strategies, LLC, a licensed insurance agency. Prevail Alternative Assets, LLC, was formed to provide real estate investment opportunities for high-net-worth individuals looking for diversification.
Prevail Innovative Wealth Advisors, LLC and Prevail Strategies LLC, and Prevail Alternative Assets, LLC. are affiliated because they are under common ownership and control. Prevail Innovative Wealth Advisors, LLC, Prevail Strategies LLC, and Prevail Alternative Assets LLC, do not provide tax or legal advice. You should always consult your CPA or tax professional for decisions involving tax implications present and future.
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⏰ Timecodes ⏰
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00:00 Introduction
01:00 Setting the Foundation for Indexed Universal Life Insurance
04:56 Borrowing From Universal Life Insurance Cash Value
07:00 What is the Cash Value For an IUL?
09:51 WL vs IUL Guaranteed Cost of Insurance
13:48 Selling IUL with Simulated Illustrations
15:48 Understanding Indexed Universal Life Returns
25:08 Understanding Simulated Returns
28:56 Life Insurance is NOT the Growth Asset Class
30:55 Who is Indexed Universal Life Insurance For?
37:52 Conclusion
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This video is very basis tbh. I have a IUL and the avg return for 3 years now for me is 6.5.
I’m the greatest bull run , you only averaged 6.5??? Imagine in a down market? Sheesh that policy is set to fail..
@@JonathanAguilera-fz3vx i said the avg. It's hit well over 7 for two yrs. 2022 wasn't great for most.
Love this! Such a good explanation of the differences between whole life and IULs.
This was awesome. Thank you for breaking it down - it really helps to know in detail what you are choosing between!
This is excellent information! Thank you very much. 😊
Needed this. Thanks WN
This was a great breakdown. I needed to hear this.
Participation Rates...Spreads...Cap Rates....Complicated return calculations just like and indexed annuity
Too many Analog knobs to be adjusted to make me comfortable
Excellent!! Thanks!
I sincerely thank you Andrew, Carmen, and Darius for assuming my understanding of these products
True.. Both IUL and Whole life have their use cases. It’s not one that’s better than the other. 18 years in the industry. The challenge every agent must overcome is poorly designed policies that are written in favor of the agents commissions.
genuine question... have you seen IULs that are older than 10yrs where the client is happy and the policy isn't eating itself up or anything?
thanks if you respond!
@@_blackturtle_5734 Yes. I have many clients with policies that are older than 18 years. My 1st client doesn't qualify for an 'upgrade' 1035 exchange into a new policy because of alcoholism and criminal records he suffered 7 years ago. The company I placed him with back in 2006 when I was a rookie was with the notoriously high fees WRL, now known as Transamerica. He has what was called the EIUL back in the day. You would be surprised to know that his policy is doing exceptionally well. He has consistently funded it, the death benefit has been leveled off so cost of insurance isn't eating up the policy cash value. My go to companies for IUL are currently low cost providers. I also utilize Whole life where ever possible. Both are great financial tools. I believe for liquidity needs, debt elimination etc.. Whole life would be the best way to go.
What case is IUL for ? Who is the target audience ?
I would like to see if I could qualify for a whole life insurance policy
So, who is IUL for ?
How can I get that report on ' The induvidual IUL return for the past months and years'.
I keep hearing IUL is not guaranteed what is guaranteed about whole life, the dividens?
When you try to bring down something. That means, that something is above you. Looks like IUL is better than Whole Life.
I really appreciate your videos but i think your guest was more biased on the IUL products unless he is talking on a poorly structured IUL. I've sold and own a series of IUL policies and havent noticed what he is talking about..I didnt get him talk about the down floor protection..As an Agent, I would never advise my client to borrow cash/take a loan against your DB and let your cash value keeping compounding.
genuine question... why wouldn't you let ppl let CV keep compounding after borrowing against it?
@@_blackturtle_5734Thanks for your question. Suppose you have compounded 50k as cash value in your 250k DB policy after 8-10 yrs. In the eleventh year, the unexpected happens, or you want to buy a house that demands a down deposit of 30k instead of going to the bank and taking a loan of 30k with an interest APR of 24%. I would say leverage cash value as your bank with an interest of 2.5% takes a loan to avoid paying taxes; secondly, if your cap rate is 7%_12% minus 2%. Your 30k will still keep making money at 5%. I hope this helps you. DM if you need further help
@@_blackturtle_5734 My message got deleted😂😂
Is there any fee to take money out from cash value in a whole life insurance? If so what is the average of interest?
If you get a loan from your policy we’ve seen anywhere between 4-8% simple interest.
Hi, I'm interested in IBC. I had a video call with someone from Prevail a few weeks ago. I thought i would be working with Wealth Nation. How do I work directly with Weath Nation?
Hello! Thank you for your note. We are excited to work with you. Prevail is our client servicing partner, they write and manage all Wealth Nation policies. If you want to email info@wealthnation.io we can reconnect you with the team.
I appreciate your video but he was very biased towards an IUL. As long as you structure it properly (index options) your accumulated value will grow. I work with over 20 different insurance companies as an independent agent and each IUL is different depending on the company. Meaning the interest rates for companies are not all the same. So you have to educate your client. It’s all about education…
Why not term life and invest in a fund?
Cause they get paid more commissions to set CV.. index funds will crush both products
Isn’t an IUL safer than a 401k?
If you’re referring specifically for retirement needs, then a 401(k) would be the “better”option. However, you should absolutely consult with her retirement specialist before making any decisions.
How do I 1035 my IUL?
Why don't you ask Doug Andrew to make the comparison?
I'm so ,confused, I need more info
What is confusing?
I would like you to set up my policies 🙏🙏🙏🙏
Great!! Thanks for thinking of us. Click on the link in our video description to complete your application.
Bring a IUL expert not a whole life expert for a real conversation. Unbelievable.
They all say product is better. Reality both about the same
Biased sales pitch wonder how much commission they’re getting when this guy writes a whole life policy for someone