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IUL for Dummies
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- เผยแพร่เมื่อ 23 ม.ค. 2021
- IUL has likely been a mystery to you and you probably have heard that it is a retirement savings vehicle and you’d like more information about it. One trend we have seen since the last big recession is using an IUL contract as an alternative to the 401k.
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DISCLAIMER:
The Wealth Protection Lady makes content available as a service to its customers and other visitors to be used for informational purposes only. While our best intentions are to provide accurate and timely information, you should always consult with retirement, tax, and legal professionals prior to taking any action.
I got licensed in January and have had many people explain this to me and this is the 1st video I understood. Thank you!!!!
I agree
The problem is that agents sometimes rambles and don’t explain it right. She explained it thoroughly w less minimum words.. I’m working on getting my license soon. Good stuff
You need a license to have this account?
you need a life insurance license to sell these accounts to clients. You do not need a license to have an account
How did you get a license if you didn’t understand what you need a license to sell
Out of all the IUL videos explaining these types of policies, this is by far the most elaborate and easy to understand. I was a property amd casualty agent and trust me when I say she is a real agent you can trust. I think that even if you don't make the 100k if you take a policy and use her example you can take a loan out against the policy amd invest the money on an ETF or brik amd mortar then repeat the process and within 2 years you will make 100k plus and apply for the zen policy she talks about and repeat the process once again. UIL or IUL is the way to go.
I just want to thank you for the great job you accomplished in presenting this subject in a very simple way. I can say I now know what I want to know. Many agents won’t let you know about their commission part. Thanks again
One of the most orderly and simplest videos to explain IUL’s. I could never have figured out the words to explain to my spouse. You made it easier for both of us to understand!
You're very welcome!
I agree this was the best explanation of IUL iI have seen. I will play this for my wife who has the look of disbelief in her eye.
Where is the best place to start a iul?
@@WealthProtectionLady I'm 54, will this work for me or am I too late
@@fost2uhi. I can be able to help that. I can introduce you to one of my best trainers. :)
As an insurance agent, I shy away from IUL's because my knowledge was not that strong. I feel I am a little more knowledgeable after watching this video.
You explained this perfectly and quickly. No wasted words or graphics
I can’t believe how much ground you cover in just 15 minutes. Well done!
Thank you, Paul!
@@WealthProtectionLady it's not fair. opened one up 13 years ago and they've decreased my cap so I haven't been getting the projections from the original sheet.
@@WealthProtectionLady if you take a loan on your money @ 4-5% and the market is down and you hit the 0% floor for 2 yrs like in 2008 aren’t you losing money at that point for the interest being paid on the loan and the index being @ 0% and depending on how much was borrowed couldn’t that possibly lapse the policy ?
I’m not an agent, and I like the IUL, however, I wouldn’t use the word “ criminal “ when describing traditional; because depending on the client, they may want the additional $500000 for their heirs, as apposed to an extra $130000 for themselves. Just a thought. Nevertheless, good job 👍🏼 on the video.
So glad I found this video. My husband was thinking about switching from an IUL to an IRA because it didn't seem to be beneficial to us. It was not explained properly to us and a lot of videos bad-mouth IULs instead of explaining how they can work for you. Thanks for your clear explanation!
This video has been by far the best video for explaining the living benefits out of a life insurance policy. I have came across multiple videos from self-called “gurus” on this industry and none of them have explained better than you. Thank you❤
Thank you for mentioning why Dave Ramsey says what he says about IUL’s.
One of the best and yet simplest video on IUL. You have covered everything one would want to and should know about an IUL product with such an ease. Greta job. I have always liked IUL but I am even more confident about recommending IUL to my clients after watching this video. Thank you so much.
Glad it was helpful!
I came here to say the same thing! I’m excited and more confident about sharing this with my clients now because of this video 😊
23 here trying to figure out my Life together. Thank you !!! you explaining make everything so much better into perspective.
Thank you for breaking it down. I'm getting ready to write an IUL for a client and will use this method to get the best rate for my client. I'm good with the lower commission. So glad I came across your video.
Yay!!! Good for you! You are doing the right thing, Carla!
@@WealthProtectionLady How do I find someone like Carla in my area that is willing to take a lower commission and structure a policy the is best for me?
Great relieve to know that there is people that teaches well and give hope to the working families ! Thx !!
What a fantastic lesson. You sound like a professor. I love this stuff.
Grateful to have found your channel at age 27. Thank you for teaching about IULs and making life insurance easy to understand!
I love how your graph shows the $100K of growth as if 100% of the premium goes to the investment... SIN of omission... also folks... she claims that you must keep this funding up for 12 plus years to see the benefit of cash value growth. I believe the average person cancels or cashes in their policies in that 10 -15 year time frame... plus as usual... if you die while this policy is in-force... the insurance company keeps your cash value... only the face amount less policy loans go to your beneficiaries... her illustration at the 8 minute mark is total fabrication because her poor smuck of a client is paying high premiums to keep this policy in-force... and those policy loans at age 65 and moving forward will cannibalize his policy in a compounded rate of reduction... a ticking time bomb...
Sean, you have no idea what you are talking about! My guess is that you were screwed by a bad agent in a bad IUL. Everything in your post is false.
@@WealthProtectionLadyWhat was false in the comment above? What are some sources we can use to verify the assertions are false?
Found your channel and love it! If anyone is wanting more information please seek this lady, she gives good thorough info!
Oh thank you!
I was introduced to this several years ago and was not interested and didn’t understood much,,,, put it aside it ,,, someone reached out to me and I decided to give it a go and joined got insured since I have nothing close to this product. I don’t understand the rest of the process but I’m glad I ran into your channel,.,
Holy crap, I have been scouring TH-cam for a simple explanation of this. You did a great job, thanks for the info!!!
Just learned about IULs yesterday and had a lot of questions. Your video was incredibly helpful, thank you!
I've personally been working with IUL's since the late 90's. Nice job!
Share your experience with us please
@@dolgov84 Are you a consumer OR a licensed professional?
Simple, concise, clear, and easily understandable. Thank you.
16:38 I am so grateful for this video. It was explained with great examples! A video I needed 20 years ago!
This is the simplest explanation I've heard of how an IUL works. Thank you greatly!! I finally feel like I understand it.
Please keep in mind, that there are other insurance policies.
I love how your graph shows the $100K of growth as if 100% of the premium goes to the investment... SIN of omission... also folks... she claims that you must keep this funding up for 12 plus years to see the benefit of cash value growth. I believe the average person cancels or cashes in their policies in that 10 -15 year time frame... plus as usual... if you die while this policy is in-force... the insurance company keeps your cash value... only the face amount less policy loans go to your beneficiaries... her illustration at the 8 minute mark is total fabrication because her poor smuck of a client is paying high premiums to keep this policy in-force... and those policy loans at age 65 and moving forward will cannibalize his policy in a compounded rate of reduction... a ticking time bomb...
This video was very informative. Thank you 😊. My thoughts are why would an insurance company structure the policy to benefit the customer/client rather than themselves. Most companies are about greed and their bottom line which is their profit margin being greater than anything else. We see that today in every facet, companies are deferring all major cost to the customer/client.
Hi, Orlando! If it didn't benefit the customer, they wouldn't sell it. Life insurance companies make loads of money.
The content of your presentation was great, but in particular, I liked the clarity and the illustrations during the presentation. Thank you.
very interesting
One of the most simplest videos on IUL I ever seen. I almost closed my account.. thanks
I've never heard of IUL so thx for the info. Vanguard also has some good options for retirement
This should be viewed by everyone, thank you for all your videos!
You're very welcome!
This wa awesome, i just got licensed and this simple explanations adequately sums up everything! Thank you for sharing
THANK YOU! THANK YOU! So simple!! I greatly appreciate the open and honest review of all the IUL options!
Thank you for simplifying it to a reasonable level of understanding
I like how you break things down in this video.
Thanks a lot. I will be glad and privileged to get an illustration from you. I will be forwarding this to my prospects. Thanks.
Those are great graph illustrations! Thank you!
Thank you!
One of the main reasons to get a life insurance policy is to be able to take care of loved ones you leave behind. If this is the goal, doesn't the first option with the highest commision to the agent yield the greatest amount left to your loved ones (cash value + death benefit)? I can see how the 3rd option is the best if your goal is to establish the highest cash value for income at retirement. Since this channel focuses on wealth, I can understand the argument. Am I seeing this correctly?
Hi, Yia! If you want life insurance, buy term. It's cheaper. An IUL is not about the life insurance. It's about maximizing your cash value so you want the lowest death benefit the IRS will allow. This way, you're not paying for expensive life insurance within an IUL.
Thats where a term policy is added. Covers 10X your income incase of an early passing. This IUL structure is solely for retirement. It allows you to create wealth in later years and leave something behind when gone.
@@WealthProtectionLady thank you for the explanation
WOW!! You are incredible! My husband has been talking to me about this and has been trying to get me on board. I have been a Dave Ramsey follower, but now, i think I'm a Wealth Protection Lady follower. My question is what is my next step? In your video you say "If you know what you're doing".... I don't. Help!!
The best thing to do is to complete this questionnaire and then we can find a time to talk about your needs. application.wealthprotectionlady.com/. You definitely want to watch my video IUL on Steroids.
Great Job explaining! As someone who started in the financial services industry 1996, I really enjoyed the amount of info you covered.
Very nicely done video, I enjoyed the presentation, and how easily understandable you explained IUL's. You asked what line people would like to invest in, and I would be in the S&P. Looking at the climbs and falls, there is opportunity in those times. IUL line graph is a bit more level, but, it is also partially based on the S&P. It looses some of it's upward momentum because there are a few times where markets didn't show return, so upward options seem to have been useless. Many people don't like the idea of markets loosing money, but, it is in those opportunities that money is made. At the end of your graph, The IUL policy made about half of what the S&P did, for a few years. Looking straight at the numbers, IUL policy posted a higher number. The S&P is more financial power behind it's volatility.
@@harrymichellerobinson2011 people don't look at the math
So you’re saying to simply invest more during the downturns and you’ll come out ahead using the S & P?
@@mickleTpickle that is what previous math has shown, wether it continues is another story. It's not as easy as you say about buying more.
The chart she presents seems fake. If you just look at a chart like VOO you don't see drastic dips like she presented. Life insurance products aren't bought but sold.
Investing in good companies is like being part owner of companies. Good companies will continue to distribute profits back to shareholders in either price appreciation or dividends. Having a diversified portfolio will minimize risk. Speculation is assuming price will go up not based on fundamental analysis. If you invest in strong companies with good financials, free cash flow, price/earnings-to-growth ratio, and price-to-book ratio then you could make a prediction that the price will increase. The historical average yearly return of the S&P 500 is 10.05% over the last 20 years, as of the end of April 2023. This assumes dividends are reinvested. Adjusted for inflation, the 20-year average stock market return (including dividends) is 7.335%. Your profit will be taxed at the long-term capital gain rate, which is either 0%, 15% or 20%, depending on your income. Compared to recent returns of 2021 28.71%, 2020 18.40%, or 2019 31.49%, IUL has a lower return rate. Life insurance companies know this and that's how they can suggest safe returns because they give you a lower average and keep the difference. They just want to scare people that investing is scary and you can lose money. If you are unsure and need a plan then talk to a financial advisor instead of life insurance agent.
@@mickleTpickle There's a stragey called dollar cost averaging. You can't really time the tops or the bottoms but if you invest consistently then you will improved returns. There's a saying, it's time in the market not timing the market. In addition if you set up your investments on DRIP,dividend reinvestment plan, you automatically invest when prices are cheaper or higher but in the end it averages out.
This was wonderfully done! Thank you!
The problem with IUL the illustration on the reurns are not what agent think they are and the people who put money into them. Most agents use 6.4% and typically returns are half that and surrender charges are very long
The 6.4% you refer to is the maximum illustrated rate which varies by carrier and index. Not all IUL's are created equal. An IUL is all about the index, how it performs, what it guarantees and the loan provisions offered. The index I use (the 3-year S&P PRISM index) is the #1 Best Performing Index in the industry with an average annual return since its inception in 2018 of 17.04%. The combined participation rate is 335% and guaranteed at 100%. It is also the lowest cost IUL in the industry. At the end of the day, even a properly structured IUL in an expensive product which could be up to 10 times more expensive than the IUL I offer, will never make money. The problem is that most agents don't want you to know how much it's going to cost you, so they don't attach the charges.
I respect the transparency
This is, hands down, the easist to understand, concise and to the point video that i have seen on IUL's that explains it well. Others say the same thing: "that is has to be structured properly", but we, the layperson, don't know what exactly that means. This video shows that that means and illustrations are great. Thank you for this !!!
Hi, Bobby! You are welcome!
Thank you so much. Believe it or not your videos are saving people's lives. Very much appreciated. Clear, precise and straight to the point :)
Thank you Suhaie!
This is a great video! I’ve been seeing a lot of people bashing on IULs and I understand there may be some issues of concern (just like everything there’s a risk) but how can people pass on these types of benefits. I’d rather have my money grow even just the bare minimum instead of sitting in the bank, getting taxed on it while gaining only a few cents every month.
I am glad you took my attempt to explain a complex aviation theory and made the "dummy" learn! Doug Andrews does a nice but you took the cake and showed me what "hard questions" to ask the people offering me an IUL.
Cool, thanks!
Thanks for explaining IUL! Great job👏🏼👏🏼👏🏼
Thank you for this video. Great job on explaining IUL's .
Glad it was helpful!
Thank you, I'm a new insurance agent and I am learning from all corners.
Great video on explaining a IUL.
You actually explained it correctly. As an insurance agent, I thank you.
I have questions…do you have a email contact?
Good tips Sue
Best I've seen by far, great and easy to understand content.
Thank you so much for this information. Not sure why we don't learn this in school. I'm going to stop contributing to my 401 k asap and switch over. It is 2022 things have to change
I'm gonna stick with WL. Good video though.
Thanks for being clear and precise, while getting straight to the point.
I love how your graph shows the $100K of growth as if 100% of the premium goes to the investment... SIN of omission... also folks... she claims that you must keep this funding up for 12 plus years to see the benefit of cash value growth. I believe the average person cancels or cashes in their policies in that 10 -15 year time frame... plus as usual... if you die while this policy is in-force... the insurance company keeps your cash value... only the face amount less policy loans go to your beneficiaries... her illustration at the 8 minute mark is total fabrication because her poor smuck of a client is paying high premiums to keep this policy in-force... and those policy loans at age 65 and moving forward will cannibalize his policy in a compounded rate of reduction... a ticking time bomb...
Great clear explanation.
I'm a agent and this makes sense. I get lots of questions and was not trained on this policy.
Thanks so much for video! It's great to know that I structured my IUL to give me the most cash, although my increasing death benefit also shows a higher amount at the end compared to the regular structure.
Did you put your down payment more then 20,000 to start at a 500,000.00 policy
Thank you for the videos they're informative and you give alot of options to fund your retirement. Would you suggest the IUL for someone who's over 50yrs old or who started investing later in life?
Thank you, Kathryn! It takes about 15 years for an IUL to really start to take off because IUL fees are front loaded for the first 10 years. What I tell my clients who are older (I'm 61) is to consider a flexible premium deferred index annuity that is uncapped and has a 120% participation rate, which means...your account would be credited with 120% of the index gain. One of the biggest differences with an annuity is not getting a tax-free income. If you are interested in seeing an illustration for either the IUL or an annuity, just complete this application and we can go from there.
form.typeform.com/to/SNfW1IBA
@@WealthProtectionLady your videos are so informative! This question is really for my mom who is retired already and has both a pension and SS, it would be very difficult for me to translate all of this into lol, is there someone you may know or recommend that speaks Spanish to explain about this topic of discussion? I believe she has no kind of life insurance and this worries me. Thanks!!
Thank you,for sharing this video!❤
Yes, more information
Great video!
I keep hearing about the structuring of these IUL's. For a client who knows nothing about these things, how would we be able to tell if it's structured the right way? Also, would an IUL ever make sense for a 67 year old with 30k in a savings account?
If you have a policy you are not sure is structured properly, I can take a look at it and let you know. An IUL takes about 15 years to build a decent cash value, so I wouldn't recommend it for a 67 year-old.
@@WealthProtectionLady I don't have a policy but I am studying to get my insurance license. I am just trying to understand how I can benefit my future clients. I have always had a negative perception of insurance agents and I want to be a part of a POSITIVE change!
@@D-Nasty The reason life insurance agents have such a bad reputation is because there are bad agents out there who will structure an IUL or annuity to get a bigger commission, which costs their client sometimes hundreds of thousands of dollars over the life of their policy. It's a shame because life insurance is so important.
@@WealthProtectionLady I agree.
@@WealthProtectionLady I do actually sometimes use these for a 67 year old.. not as a cash accumulation vehicle, but rather as a larger death benefit final expense product.
Thank you so much for explaining this in easy to understand terms & for getting right to the point. This was very helpful .
are you looking to purchase an insurance policy ?
@@ghostoferlock No I’m not I’m actually a new agent and I’m trying to learn how IUL’s work.
Might I suggest watching Doug Andrew. He has a lot of videos to watch
@@ghostoferlock I’ll check it out Ty.
@@pattydiaz6210 does your insurance company sell segregated funds ?
This was great, thank you so much. I just submitted an application.
Great!
Good morning thank you so much for sharing. I am a agent myself you made it easy understanding about the Iul I . Thank you.
Glad it was helpful!
Great video!! I really enjoy how you explain things. How is he getting 97,000 for a lifetime?? is that assuming that the interest rate received on his retirement savings (Or cash value) remains the same each year which is about 12% (Which would be almost impossible)?... maybe I'm wrong, could you explain, please?
I'm sorry. I would have to go back and watch my video to know what you are talking about. In any event, I input the information into a software program on the carrier's website and whatever algorithm it uses, I do not know.
Maybe no real reply as she is also providing her own service. But very good point. This is almost always way better than the average 401k, as money the worst that can happen is earn 0% yearly return
Good stuff here and I'm looking into the Kai-Zen financing. I believed in the IUL concept and sold a few of these to clients in their 50's , and some younger, starting @ 9 years ago. For safety, I linked the index to the S&P as an annual Point-to-point, got them good carriers with all 3 ADB's and used an increasing DB on all. I suppose they haven't been in them long enuf since right now the cash-value isn't something to write home about. Disappointing because the market was doing great for a stretch. I'm thinking, going forward, if I can get them to max-fund it would work better short term. Any views on that?
I would go with a volatility control index preferable rebalanced daily as opposed to monthly.
I the last 3 examples the Traditional pays out much more at 2.07mil, 2nd was 1.75 mil, and 3rd plan only paid out 1.29 mil, so I don't understand the logic even though the agent fees is greater....
Maximizing for CASH VALUE, not death benefit.
Incredible! Saving this to share with clients as needed.
Do you sell insurance? what company do you work for? I’m thinking about joining a brokerage that sells for national life insurance group living life benefit.
Hi, Aukai! Yes, I do sell life insurance. I am an independent agent and have access to practically any life insurance carrier out there. If you are a new agent, I would recommend you start out with a company that can train you. I am not a fan of captive agencies, but eventually, you can go out on your own. Good luck!
@@WealthProtectionLady how can I contact you ?
@@WealthProtectionLady ..I would to get a IUL ….How can we link up to get one started
I am a licensed financial consultant! I can help you!
You still lose money with IUL when the market is down even with a 0% floor rate because you still need to pay the COI and other fees.
Correct; however, not with a 2% floor.
@@WealthProtectionLady Can an IUL be customized with variable floor and cap rates? Example: Set even higher than 2% floor rate at the sacrifice of a lower cap rate?
@@WealthProtectionLady how often do these zero years even happen? And wouldn't the loss be just the administrative costs on a zero year? From what I understand, the CV seems to be largely unaffected by said costs, unless there's something else I'm missing?
Thank you!
Somethings I see that aren’t addressed: cost of insurance as you get older. The client has to plan to pay more in premium as he goes along or it comes out of his cash value. The other thing is risk. This is using insurance as an investment and the risk moves from the insurance company to the client. As along as someone knows these facts about IUL at least he can’t say he wasn’t warned.
IULs can look really good on paper, but it's all about the index and the performance of that index and what it guarantees. The fees on some policies can eat you alive, So many people don't even know what index/es they are invested in.
@@WealthProtectionLady can you roll the funds in your Roth IRA into an IUL? If so, any fees
Thank you Sue for explaining it so nicely and patiently.. i learnt new thing today.. never knew this.. thank you so much..
awesome video ! simple and clear explanations on how it works and answering many questions the masses have !
I am 66 yrs old good health is there an IUL program for me . Very interesting. Thank you for your explanations.
I don't normally recommend an IUL for anyone over 65, but it just depends on what you want to accomplish.
Oh my, thank you 👏 👏 thank you! Finally, someone is giving a full detailed explanation!
You're welcome!
Would I contact Kai-Zen to set this up. Can you help?
Thank you.
Very informative. Thank you for sharing.
Super helpful thanks so much!
Thank for such a easy to understand video on IUl definitely the best video out there THANK YOU!
I like your explanation and see some of the additional benefits of the IUL's (if structured correctly) v's traditional investments (if also done correctly) but with the additional risk. But from the other side of the coin, If you set up a Roth 401k or even a normal investment account and add 20,000 a year for 21 years with only 5.65% average growth you get a very similar cash value. But with the Roth 401K, you will get the compounding effect of dividend reinvestment, etc over 20 years which could substantially be a lot more value. It's not that hard to double your money every 10 years or so with a good stock that increases its dividends every year to help with that process. Hence I'm sitting on the fence deciding what to do.
An indexed product is ALL about the index -- how it performs, what it guarantees and loan provisions offered. The S&P PRISM index that I offer is the #1 Best Performing Index in the industry with an average annual return of 17.04%.
Great video! I finally think I understand IULs!
What’s a good and trusted company to invest for IUL’s. New to this
Thanks and great video!
I use Securian's Balanced Growth Accumulator II with the S&P PRISM index, but it is by invitation only. Other than that, I would go with Nationwide or Allianz, but Allianz is expensive.
This is a great video. I am a new agent would you please make a video showing how to structure an IUL properly. For example do a video of a TransAmerica FFIUL illustration using the myTransware.
Hi, Erik! I don't sell TransAmerica. Sorry.
Thank you
Thanks....Great job explaining!!!!
Great explanation. Thank you!
Insurance is actually tax-exempt according to Sec 7702 vs tax-free……big difference….
Thanks great explanation
Be wary of Proprietary Indexes...basically created by insurance companies to make the IUL contract "Look Good"
explained very well!
Yes
thank you for his information
YOU ARE AWSOME!!! Love your explanation. I'm a new agent and so happy I've found you. Did you used to be a teacher?
This is a great video and explanation!
Excellent Video and perfect graphics to hit homes those points. Can you please tell me more about the Living Benefits. Specifically when do they actually kick in and for what amount of the Face Value. Thanks again for a great video!!!
If you are diagnosed with a chronic or critical illness, there is a 90-day waiting period on accelerated death benefits for chronic or critical illness. You can choose between a 2% or 4% payout for chronic illness to cover monthly expenses for LTC, nursing home, home healthcare, etc....
@@WealthProtectionLady Thank you for getting back to me. I was asking at what point in the policy is the policy holder able to access Living Benefits??? I'm sure it's NOT from day 1. I imagine it is after several years. I just can't remember how many years it takes for a policy holder to be able to tap into those Living Benefits. When I learned it was after a significant # of years I jokingly said they should be called "almost dead benefits" rather than living benefits. If you find out please let me know. I will do some digging myself.