How Indexed Universal Life Insurance Works In 2023
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- Опубліковано 24 січ 2023
- Indexed Universal Life is one of the most commonly sold financial products on social media platforms. Sales pitches and use cases are full of half truths. In this video, I will cover EXACTLY how IUL works, where the risks are, and answer all questions regarding if IUL is right for you.
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📖 Chapter Timestamps Here ⏰
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VALUABLE CONTENT TO CONTINUE THE EDUCATIONAL JOURNEY:
How To Properly Structure A Whole Life Policy
• How to Properly Struct...
Indexed Universal Life vs Whole Life - Which is Better
• Indexed Universal Life...
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🤔 ABOUT LIFE180 😃
Chris Kirkpatrick launched LIFE180 as a solution to a problem. As the director of business development for a Fortune 1000 life insurance / broker dealer, he became disenchanted with the financial industry because of the lack of education provided to clients and how "financial advisors" were really just glorified sales people.
So... LIFE180 was launched to help give relevant financial education for people to create wealth. Along the journey, LIFE180 has evolved. Chris quickly realized he was passionate about not just helping entrepreneurs on how to leverage their money, but how to build their businesses.
Over the past 5 years, Chris has spent thousands of hours mastering the art of online business development for himself and clients. In 2020, LIFE180 morphed into a full service online business launch and development agency. If you need any help creating more revenue or generating more leads online, LIFE180 can help.
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*All content in this video is for educational purposes only and is not to be interpreted as personal financial advice.
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This was so informative!!!
I watched som David McKnoght 2
He is too scared to debate me
Show IUL policy examples of your claims!
Show examples of my claims? Go look at my videos... You must be a WFG or PHP agent
Hi Chris thanks for trying to make this stuff more clear for both clients and agents.
Great content. Thanks, Chris!
Great video! Hope you are doing good in DR! I live in PR and NJ. So I know how it feels being in paradise!
Amazing. Yeah, I love it here. Such a different way of life. And I'm actually closer to my business partners in FL than I was when I am at my place in AZ
Take care of you young sir!!
Yes, mom
what about chronic illness or LTC? IS it good to count on for that kind of coverage, if you don't use it for income, but just keep any cash value so you can use it for chronic illness?
Yes and no. You need to make sure it is funded to be sure the policy won't have any potential lapse issues.... If the policy isn't funded properly, those riders will be worthless when the policy lapses. Funded properly means funded far above target premium, which is what carriers tell you is acceptable.
I would look at the guaranteed assumptions and the midline assumptions. Split the difference between the two assumptions and you should be safe if you don't use for income and loans
What about the loses incurred during the GFC & what it takes to get back to even? A 50% loss takes 100% to get back to even. NO ONE in a retirement acct is Indexed to S&P 500 or Nasdaq only. Most Americans took 5-8 yrs to get back to even after 2008 crash. Even is not a performance number to gain returns. Also now inflation has been 40 yr highs so how does a normal retirement account offset inflation? IT can't unless someone has a managed account that is actively selling & buying instead of static 60/40 portfolio?
What about in an IUL when you are 10 years in retirement and have policy loan obligations because of the "tax free retirement" you used? What happens when the market does 0% but you lose 20% of your cash value???? Please explain that?
Yes I optimized my IUL.
How long have you had your IUL?
@@LIFE180 I will email you a copy. You can do a video on the policy and how we are managing it.
I know David, and Patrick Kelly and Doug Andrews
Becoming your own banker by Nelson Nash.
You Keep talking I will keep learning.
thanks!
Hi!,
Is there such things is a fixed I.U.L.?
Love the education and content thank you for spreading this information.
Fixed IUL is just traditional UL. All IUL'S have a fixed account option. If you utilize that option, your policy behaves like a traditional UL. Or you could just buy a traditional UL policy. I wouldn't recommend it, but it's an option.
Great information. What is the difference between IUL and a IVUL index-linked variable universal life (FlexGuard Life) policy?
I vul still a vul product , has iul function as rider
Word
I always talk about whole life to me is one of the best life insurance that exist !!
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Whole life policy is a fixed rate policy which is of low risk and then low performance and poor accumulation. IUL is flexible, in average have high rates then better performance and potentially a high accumulation. Generally is less expensive than Whole Life Policies and in long term have much better accumulation making it excellent for retirement free of taxes. IULs flexibility helps inflationary times. A good guidance to buy an IUL is check its historical performance in percentages
Ok thank you so much for this great information. 👏
Can you please tell me if I want to buy life insurance for lifetime and i have no plan of investing my money and getting growth on it from insurance, is there any oyher option which will be cheaper than whole life or uls?
There are many options. It really depends on goals. If you want, set up a call and my team can walk you through all the options.
Calendly.com/_life180/claritycall
So who do you recommend a new agent works for?
Find an independent organization? We have an IMO that offers what I feel is the best opportunity. But I'm not sure what you're looking for. Go to LIFE180.com and check it out?
What about the IULs that have performed as illustrated or better?
Show me an illustration with the original illustration that is 10 years old and that has performed better than illustrated. Look up the #IULChallenge
Just submit with original illustration (which any good agent should have) and an inforce illustration matching the old illustration at a minimum.
That shouldn't be hard to do seeing how illustrations are "conservative" according to IUL agents and we just came through the greatest bull run of all time. For a product that promises "upside potential" EVERY IUL should have outperformed the conservative illustrations during the greatest bull market of all time. Yet, I have been offering $2000 to anyone who can win this challenge....and nobody has.
Maybe you're the one? You certainly seem confident.
Who are IUL'S ideal for and what ages?
IUL'S are not ideal for anyone. When you dig deep into WHY you are looking at IUL and WHAT you want, I think you'll find that a properly designed whole life policy is what you're looking for. That's why I shifted from IUL to whole life personally and professionally.
2.....but you're great 😊
thanks! But I don't see the other question/comment?
Sounds like the business to be involved in is selling S&P 500 Call option spreads. Put your cash into a high quality mutual whole life policy (Penn Mutual, Northwestern, etc.) then take loans against your policy to fund selling highly over priced S&P 500 using Call option spreads.
What policy would be best for someone who is young and wants to accumulate and fund a policy so it can grow as much as possible to make loans out against it tax free and put that money into real estate but at the same time keeping the cost of insurance and all fees level throughout the policy
That would be whole life. I wrote a book on this exact topic. Check out CashflowHackingBook.com and lmk if you have questions. Or you can look up Cashflow Hacking on Amazon
I’m in the whole life bandwagon right now, but getting to that point I had to constantly fight against people trying to compare the worst designed whole life policy compared to an investment in the S&P… I kept having to tell them to compare apples to apples - compare the best designed, high early cash value whole life policy compared to a savings account (not an investment account). You can’t compare a savings account vehicle to an investment vehicle - they are not the same and it’s a dishonest comparison.
With that said, I feel you’re falling into this trap by comparing the “typical” IUL policy (like the typical whole life policy - which is garbage for cash value) to the gold standard, perfectly designed whole life policy. Compare apples to apples. Show me the best way you could possible design an IUL (not assuming the best rates of return - but design) vs the best designed whole life product and let the chips fall where they may. You can (and should) point out the risks (poor market returns - low dividends). If the risks are higher with IULs, then people can make a truly educated decision. But don’t stoop to their level by comparing poorly designed products to an optimized product.
Keep up the good work! Love the content! Also, get some rest and recover!
Great feedback. Received! Thx!
A well structured IUL running Whole life assumptions (4.5% dividend) outperforms whole life, but the IUL still still has more upside potential, and more flexibility.
Have you seen every IUL product from ALL 70 companies?
All of them? No, but all the major companies, yes. There are a lot of smaller lower quality companies that I don't waste my time looking into. But all the big companies, yes
NLG has improved over the last few years with lower cost of insurance and higer par rates....etc.
Smh....NLG has consistently underperformed for 15 years with IUL. So...which IMO do you work with?
BTW I am an advocate for the people. I will never join forces with the dark sIde and become an agent. I just want the truth.
Damn dude... hope you're doing better were you vaccinated.. don't hate... your thoughts
There are IULs with volatily-control which have no cap...
Define what you mean by volatility control
Hey Chris
I appreciate you giving your knowledge and info on this subject. I am a life insurance agent who sells mostly final expense. What are your thoughts on using IUL for Whole life alternative for ages above age 65, Mutual of Omaha Express IUL to be exact. This would be for lower income individuals looking for guarantee on death benefit mainly. Please let me know your thoughts?
IUL for older people is extremely dangerous. I would use some sort of simplified issue whole life policy before doing anything with IUL....especially starting at an older age. The costs of the ART in the IUL will be horrible and unpredictable. Policy lapse rates will be through the roof
Theres IUL with extended no lapse provisions. Look into that and compare to whole life. Dont cheat your clients out of death benefit!
What happened with MassMutual?
ua-cam.com/video/eSbLzEceLwE/v-deo.html
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the WFG is actively selling that product aggressively in our area, are you familiar with that company?
Yes, I’ve done reviews about them. Check them out on my channel page
Option returns are not single digit; the difference between cap & option return, insurance company keeps.
Elaborate your line of thinking here for me
Hi Chris, I am wondering if I could contact you regarding my policy?
Sure thing. Email Chris@life180.com and we can connect
Hi Chris, I am wondering if I could contact you to go over my policy? Much appreciated
Absolutely, email Chris@life180.com and I'm happy to help
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Zinc, D3, Magnesium, 1gr Vit C with all its components, K2, fermented foods. Be safe!
Yes! Thank you!
Thank you so much for being ethical and moral, I 200% believe in what you educated me. When you step on someone else's interest, he, of course, has to come up with his argument. Otherwise, how is he going to face his belivers.
No difference in policy loan for a speculative passive investment vs policy loan for retirement income. Insurance carrier doesn't care what you do as long as thr policy stays in force until the DB pays out.
True. What's the point to that comment in this context? Elaborate for me?
@@LIFE180 point is whether whole life or IUL, the contract owner can use policy loans however they wish.
@@dailstancill720 sure. They can. The risk of increasing the chances of policy lapse during retirement is greatly higher with IUL. Plus taking loans early is challenging due to surrender charges.
500.00 a month for you age, gender, health (you look old) is not enough premium over the cost of insurance, expenses and fees.
are you saying I look old? Lol. You are such an awkward dude.
Probably Rated Standard....at best.....lol
You would have to pay a planned premium of 1500.00 a month or more with the best design possible.
I, with the help of my agent accept the challenge. I have the best design with the lowest cost if you can find a younger, healthy female client that would help cut cost.
@@LIFE180 all geniuses are award.
David McKnight? "Who the fook is that guy" -Conor McGregor 🤣🤣🤣🤣
HAHAHAHAHA
The Power Of Zero.
What about the Power of Zero?
Chris K: "You'll have to excuse me... I have low energy levels and have been sick..." Proceeds to talk for an hour and a half with more energy than I have on my best days. Baller.
🤣🤣🤣🤣🤣 idk...once I get on a roll, I can't stop...
Hello do you need leads
I am sograteful that i came across your video. somebody is agressively selling IUL to us. Somebody once told me that if somebody aggresively sells something.... run, walk away.... because something fishy is about to comeout from that.
why Wl is best but IUL don’t for 21 years old who want to build wealth and need to have low premiums
I've done a lot of videos on this lately. Look at live replay ua-cam.com/users/live4Dx4wWkl6cY?feature=share
Okay, thanks
hole life at the death of the owner those the foamily get the cash and death benefit
I already responded to you about this in another comment. Watch this video... it will help you understand how it actually works....
ua-cam.com/video/irMVae7qkbw/v-deo.html
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