What is the Difference Between Term, Whole Life and Universal Life?

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  • Опубліковано 11 жов 2024
  • This is episode one of a twenty-one episode series entitled "Secrets To A Tax-free Retirement". If you are ready to generate an extra million dollars, this episode is for you! In this video, I will talk about why universal life benefits the living and discuss the difference between term, whole life, and universal life.
    To your abundance!
    Doug Andrew
    Key Moments In This Episode
    ========================
    01:35 Learn how to accumulate income - tax-free
    03:32 The concept
    04:40 The variations
    06:12 Single premium life insurance
    09:50 The five parties
    11:39 Insurable interest
    What To Watch Next
    ========================
    How Does a Max Funded IUL Compare to Whole Life?
    • How Does a Max Funded ...
    Did you love this video?
    Want to learn more wealth and life empowerment lessons from Doug?
    Here are some next steps!
    ========================
    How to Diversify and Create the Foundation for a Tax-Free Retirement
    laserfund.com/
    How to Lead Your Family/Business from “ME” to “WE”
    entitlementabo...
    Visit Doug Andrew’s website:
    dougandrew.com/
    Music
    ========================
    Song: LiQWYD - Glow (Vlog No Copyright Music)
    Music provided by Vlog No Copyright Music
    Video Link: • LiQWYD - Glow (Vlog No...
    ========================
    Video by Nate Woodbury
    BeTheHeroStudios.com
    / natewoodbury
    #DougAndrew
    #3DimensionalWealth
    #AbundantLiving

КОМЕНТАРІ • 36

  • @aracelitalks
    @aracelitalks 4 роки тому +14

    YOU MAKE THIS INFORMATION EASY TO UNDERSTAND! THANK YOU!

  • @ellaestaterealty
    @ellaestaterealty 4 роки тому +9

    My boyfriend is in insurance. I'm going to be able to understand his conversation so much better. Thanks for the information. Excited for the series!

    • @missedfortune
      @missedfortune  3 роки тому +1

      If he is interested in learning more as a professional, please look at my new training and tools: www.iulinsiderpro.com/training-registration

  • @Just_forfun9140
    @Just_forfun9140 3 роки тому +2

    You are very good in teaching the differences, i.e. if they listen to you without blinking an eye and without a wandering mind ! However, one can replay the recording if they missed anything.

  • @Traslashuellas07
    @Traslashuellas07 2 роки тому +2

    Thanks for sharing this powerful information Doug, Im your fan and you are my mentor. I’ve been a year in a half in this industry, started offering IUL to my clients.
    Houston Texas
    God bless

    • @missedfortune
      @missedfortune  2 роки тому +2

      That’s great! Thanks for watching!

    • @LuxeprivaeMedia
      @LuxeprivaeMedia 3 місяці тому

      Congratulations 🎉
      which IMO do you work with?

  • @karthickentrepreneur8615
    @karthickentrepreneur8615 6 місяців тому +1

    Sir, This information is great. Absolute gold

  • @remzu12pd85
    @remzu12pd85 2 роки тому +4

    Wow, this is gold informations ! thanks

  • @pheotonia
    @pheotonia 4 роки тому +2

    I'm on Chapter 8 of the LASER FUND book!

    • @missedfortune
      @missedfortune  4 роки тому +1

      Awesome! Thank you for reading. I hope it gives you some great financial clarity and direction!

    • @pheotonia
      @pheotonia 4 роки тому +1

      @@missedfortune Oh I understand what's going on, your are filling in the blanks for me! I used to have a Life Insurance Sales License in California back in 1995. But life took me into another direction and I let it pass away.

  • @arturovalladares3174
    @arturovalladares3174 Рік тому +1

    So nice

  • @Just_forfun9140
    @Just_forfun9140 3 роки тому +1

    If life insurance is used for retirement purpose only for income or pension (by giving up a chunk of money up front ), and have no beneficiaries to pass it to, and the owner is self, is it possible to get a bigger monthly check from it? In other words is it better than an income annuity.

    • @missedfortune
      @missedfortune  3 роки тому +3

      Yes, when structured correctly it will not only add more each month but will give you much greater flexibility as well!

  • @UnaVidaSinExcusas
    @UnaVidaSinExcusas 2 роки тому +1

    How can one put $100,000 into the policy when the insurance company will not let you do that. I really want to know.

    • @ejbarraza
      @ejbarraza 2 роки тому +1

      1035 exchange a large upfront lump sum.

  • @christitunal3772
    @christitunal3772 2 роки тому

    Would this be a wise thing to do for my children? Get them a whole life policy right now so that they have a high value as adults? I am more concerned about setting my children up for the future

  • @treesamichael3779
    @treesamichael3779 3 роки тому +2

    Andrew, you are forgetting the fact that very few 30 or 40 yr old have 200000 or even 100000 or even 50000 to pay a single premium.

    • @missedfortune
      @missedfortune  3 роки тому +5

      If you are younger, you can get a max-funded IUL started with $500 per month.

    • @raquelrosmaninho9212
      @raquelrosmaninho9212 2 роки тому +1

      Well, that’s the main issue in the world- lack of financial education. If people had that since they were kids, by the age of 30 they would already have a small fortune. Also people don’t want to make any sacrifices. You have to save at least 30% of what you earn. If you can’t save that much try 20% or 10% but never spent all you make

  • @Anonyme67
    @Anonyme67 2 роки тому

    Thank you so much

  • @abdulsalambasit8146
    @abdulsalambasit8146 3 роки тому

    Andrew can I get this book in Canada

  • @braydanforestell6884
    @braydanforestell6884 3 роки тому +2

    Great video here, something for you to remember is to always implement term insurance because you don’t need insurance forever. The goal is to be financially independent not live off of your insurance policy that most likely will lapse before you’ve even got time to use it.

    • @sashas3362
      @sashas3362 3 роки тому +3

      No offense but you don't know what you are talking about. Term doesn't give you all of the same financial benefits people are sometimes looking for. You obviously aren't paying attention to what this guy is saying.

    • @markcassara
      @markcassara 3 роки тому +1

      Dave (Ramsey) quit trolling!!!

  • @eduardonazareno9155
    @eduardonazareno9155 4 роки тому +2

    Let's get deeper!!

    • @missedfortune
      @missedfortune  3 роки тому

      If you are interested in learning more as a professional, please look at my new training and tools: www.iulinsiderpro.com/training-registration

  • @priscillajimenez27
    @priscillajimenez27 4 місяці тому

    According to AJ Sheff, LASER Fund isn't the best way to go.

    • @missedfortune
      @missedfortune  4 місяці тому

      To learn more and determine for yourself how the LASER Fund strategies will work for you and your particular set of circumstances, check out our website. 3dimensionalwealth.com/getstarted

  • @anilo1
    @anilo1 Рік тому +2

    You lost me on 1 of 21.

  • @firstlast3192
    @firstlast3192 Рік тому +1

    What is the difference between indexed universal life and a fixed indexed annuity (FIA)? They appear to be the same.

  • @TD_t_dickens
    @TD_t_dickens 2 роки тому +1

    My accountant tried to get me into that insurance. I thought it was a scam or she gets big percentage off of me, setting me up. How can I assure I’m doing the right thing and not getting scammed?