How Life Insurance Works

[@laviniayale6255]

I've watched a bunch of videos on life insurance and I've gained almost twice as much info watching this video. Thank you

[@VCRrepairman]

Real talker

[@AntwioneCobb-c6x]

I am a new agent and this video is great! It a clear and concise video teaching me how Life Insurance Policies work, and there pros and cons. What a great way for me to learn! Thank you.

[@Merkanification]

Finally , found a real insurance professional, I really liked her presentation, very knowledable, informative with charts, and samples, excellent , I used to work for an Insurance Brokerage overseas and acquired my Insurance Producer certificate, I am now preparing myself pursuing my insurance career, very dissapointed working for diferent Insurance companies with lots of lack of knowlege about the Insurance business itself. Thank you !

[@McFie-Insurance]

@Merkanificaiton, thank you for the kind words! It is astounding how many people who sell insurance know so little about it. Best wishes to you on your insurance career.

[@Pepper212]

Nice content. The truth is, money is worthless until you put it to work. Successful people look for business to invest on and make more money.

[@don-dollar4830]

With the way things are going I honestly feel sorry for anyone without a passive income

[@dr.marie-leontinebarbier3995]

I thought of Investing in bitcoin around July Feb 2018 but was discouraged with the rise and fall of bitcoin. I don't know if it's still safe and ideal to invest now and what platform is recommended

[@besttime647]

Wow you really know expert Pamela...? I'm a living testimony of expert Pamela , she has been trading for me for months now

[@illustriousmiltonm.p1389]

@@besttime647 I'm one of her clients.... and I'm a living testimony of Expert Mrs Pamela . She has changed my financial status for the best, all thanks to my friend who introduced her to me

[@TheKarina-ns1ob]

She has been trading for me, her strategies are wonderful and she made me see binary and forex trade from a different dimension. I keep making profits weekly

[@travis1240]

So glad I haven't gotten sucked in to the cash value insurance world. I'd rather control my own finances.

[@rachelchan6658]

As a broker dealer, I never tell my clients which products in the market place are the best and tell my clients to stay away from them. Each product in the market place has its purpose and use. Most importantly is to understand our clients' goal and needs. Its all about affordability and suitability.

[@AlienAndHisCat]

Thanks for putting it so concisely.

[@publicrelations695]

Yeah she is very smooth but the lack of experience can be seen by a professional. She mentioned universal life and bashed it without mentioning index universal which is better and safer and more suitable to mist clients than the whole life she is pitching.

[@astroman30]

@@publicrelations695 IULs are garbage with their high fees/commissions.

[@nathancortez92]

@@astroman30 extremely high fees

[@lifeinsurancecareerfactsan808]

Agreed as a multi qualifying MDRT member, everyone is different, some people temporary is good, but UL is amazingly flexible (not to mention VUL wasn't mentioned) and yes Whole is a contract if guarantees but absolutely not for everyone. In one drinking the D. RAMSEY kool-aid maybe attracted to a minimum funding UL because it can be used as a longer term based solution. Still enjoyed her presentation

[@18steps]

In the process to get my Life Insurance and Annuity license. My boss never pointed out the actual bad side of UL rather he encourages us to sell UL and talks about the more good than the bad!

[@stewdiouspodcast]

The universal policy part put a pit in my stomach

[@ASalfity]

Brief Table of contents (screenshot points): 0:32 - Types of Insurance - Permanent -- Whole Life ( 16:40 ) -- Universal Life ( 3:52 ) - Term Insurance ( 2:34 ) -- One Year Renewable -- Level Premium (I might further update this later)

[@VCRrepairman]

Strong Jodi Foster from Lambs vibes from this one… This is a compliment to me…smart lady

[@joshuadavis1367]

You did an excellent job explaining Life Insurance. Thank you!

[@McFie-Insurance]

Thanks!

[@Fatcamp_tig]

I used to listen to my college lectures at 2x speed and pass exams. I’m extremely lost here and am going to have to take notes to learn this

[@Alice-ev9wv]

My colleague lecture is it a KZbin Chanel .that teach you about insurance

[@Arken2249]

If you really want to learn about life insuance, read "What's Wrong With Your Life Insurance" by Norman Dacey. Any permanent life insurance policy (WL, U, UIL, VL, VUL) is an incredibly ineffective way to protect your family or build wealth. Life Insurance is NOT an investment.

[@valeriamarrerodiaz1731]

i only have one opinion . she makes the video fun because she speaks fast 5:03

[@DenitaKuhlman-bd4cc]

Great explanation! 🙌 It's comforting to know that life insurance can provide peace of mind for my loved ones. ❤️

[@ChelsieGilhooley-cf3fs]

Insightful guide to securing your family's future.

[@armandodemichele1420]

I have changed my mind often since I started all this insurance policy stuff. At one point I was paying 600 bucks a month on different types of policies including "first to die " with my ex-wife. I have since lost my everything when my wife left me 2013 and am now technically homeless since then, due to many circumstances. All that I now have left since I started paying various policies is 1 surrender value of just over 5K. My advice to all of you, simple, buy an ounce of physical silver a week and keep it. I started this crap when I was 16 years young, now I am nearly 50, I have a daughter and 2 sons, and nothing left to show , not even nearly enough to put me in a cardboard box. Reality check, live life to the fullest, and keep your wealth to give to those you love, that is the best policy!

[@kimsloanlee2766]

Too bad to hear it Armando case $600 /mo for 2 or 3 policies ? What kind ins you bought ? from 2013 you wife left you ? is it she died ? You get nothing because you are not die -first to die if you are insurer

[@israelvalentin3031]

Good luck with everything. Silver is going up in value right now.

[@maynardmaynard5955]

@@israelvalentin3031 and looking better as we go.

[@investingmusician]

Excellent presentation, thank you for sharing.

[@RWStanfill]

I don't know her agenda, but she is not accurately describing properly designed insurance.

[@mikeross883]

I found it funny when discussing the maximum amount of coverage insurance companies will offer at any give age. When asked if anyone was under insured based on the income multiplier and I think one person in room put up their hand. In over 20 years in the business I have never come across a client before we met that had their full economic life value in life insurance, almost every time not even close. This happens primarily because financial planning is based on needs and goal setting and that always puts limits on clients full financial potential

[@Tammy-se2hu]

Thank you for this post. It cleared up some things for me.

[@mrebholz]

what have we learned so far: If you want to know the pitfalls of a particular product, walk to the competition to let them educate you about it.

[@Arken2249]

Excellent advice. Or read "What's Wrong With Your Life Insurance" by Norman Dacey.

[@Mustlovehim46]

Not to be offensive in any way to this agent but I have only been in the industry for 3 years and I know very well those policies where not structured right at all for UL, I don’t know how long she has been in the industry but maybe if she did more case studies it would help her understand how to properly fund a product so not only is the client isn’t losing money and after a certain time no longer needed to pay premiums but also grow the DB just off the CV.

[@joannryan560]

I agree I still sell UL. I have them on books from 20 years ago - cash value still increasing!

[@kabronex9877]

This'll help me be better prepared for my license exam.

[@McFie-Insurance]

Wonderful!

[@Arken2249]

If you really want to learn about life insurance, read "What's Wrong With Your Life Insurance" by Norman Dacey.

[@vcompro]

This is VERY WELL presented, but it's also very MISLEADING! Perhaps someone is on a mission to sell you a particular "Whole Life" policy instead of discovering what you the client goals and needs are, along with your financial means to pay for it. When a "sales Person" gives you half truths to justify their particular recommendation, there is a CLEAR PRETEXT to justify their recommendation. When agents work for a particular insurance company, their TRAINING is often skewed towards the main product that company wants to sell you. SAD BUT TRUE.

[@McFie-Insurance]

Isn’t it sad how many agents don’t learn about the products they’re selling before making the sale? We see this happening all the time especially when it comes to Universal Life products. I believe many agents either don’t know how the products work or are just looking for a way to make a commission and so they push whatever makes them the most money regardless of what the client’s needs may be. We are all about providing useful educational material for customers to review before, during and after their needs analysis consultation so that they will be able to make the best decision possible for their current and future financial needs. This video is one of our many educational pieces. FYI: We are independent agents representing multiple insurance companies. We do not have any “sales quotas” to meet, and will not sell the heavily promoted Universal Life products offered by the insurance companies we represent. The guarantees of Universal Life insurance products are known for their poor performance, and we want only the best for our clients.

[@VTala-ly4jb]

This video seems to sell you Whole Life policies lol

[@donnapuckett4992]

It all comes down to "ethics". In the long wrong, ethical agents will win in the end because their "reputations" as agents who truly care about their clients' needs will overshadow those agents who are only out there to make a commission and nothing more. I am naive as I think hat ALL agents are good people who can sleep with themselves at night. Quick! Someone hit me with a reality 2x4!

[@keirachel8005]

are you a non-profit? if not, all so-called education, comes with an agenda. the insurance companies you have contracted with probably are all whole life companies, who give you "education" commission. lol.

[@travis1240]

The "commission" section of this presentation is also very misleading. There is a reason agents try to sell you whole life over term and it isn't because they earn less commission on it than term. Sure it may be less commission by percentage of monthly premium but not in actual, real, dollar amounts. Not by a longshot. The premiums for whole life are simply much much higher, so a 5% commission on whole life would still earn them MUCH more than a 10% commission on term.

[@1-7-0-1]

Absolutely Fabulous Presentation, Wonderful Just Perfect! 🌄🙏🌄 Many Thanks Dean

[@McFie-Insurance]

Thank you for your nice comment, Dean. We love hearing this!

[@tovrtovr2063]

She explained this so well!

[@navashree_patil]

really nice lecture ..that girl has so much interest in insurance she teaches very well...amazing it was .... her character is also pleasing

[@RennyEdelson]

Great job explaining the differences between life insurance types to Dummies. This helps me explain and advise my siblings start on the right path. Thank You

[@RestAtMe]

Excellent explanation. The best I have heard so far. Thank you.

[@Lifeontheshelf]

She was amazing...I've made notes and will be speaking to my insurance agent on monday

[@McFie-Insurance]

Glad Gracine's video was able to help you. Your always welcome to call us at 702-660-7000

[@dprestons0318]

​@@McFie-Insuranceon. N😊

[@nikkily9771]

The agent who designed IUL policy did not not design policy correctly for the client.

[@estebanvela7976]

You are Definitely an Amazing Professional, the level of knowledge and experience just Radiates From Her. Thanks for the information

[@godwininsurance]

¹1¹1¹1ò0

[@jjf1058]

She is selling her fish.

[@Arken2249]

@@jjf1058 and it is rotten!

[@Noname86-k6x]

Excellent video / content.

[@antonjames8405]

why is the DB at zero at 9:23 ?...it's a UL..the premium has been paid , the policy still in force so DB should still be available ? what am I missing ?

[@McFie-Insurance]

You're right that the premium has been paid, but the guaranteed values were not enough to keep the policy in force so the UL policy would lapse at that point and the DB go to 0. Even on non-guaranteed values the DB goes to 0 at age 70. I don't think you're missing anything. Not a very good deal is it?

[@j.zapata74]

At $1 mil for $400 seems like he was paying just min. All of rhe premiums were going to the cost of insurance.

[@ZanderOKC]

This wasn't explained very well in the presentation. The reason that there is no death benefit, no surrender charge and no cash value is because the cost of insurance goes up every year and the policy has spent all its accumulated cash. This gentleman purchased a $1mil policy when he was 45. He's now in his 60s and it gets more expensive to insure him as he ages. If you don't fund the UL cash value properly and allow for it to grow in its early years when cost of insurance is less, you'll eventually run out of money with increasing expenses. The cash value is depleted by the high cost of insurance in later years. Like J. Zapata said in the comment above, its possible that the agent that sold the client this policy was bare-mimimum funding, which means it wasn't designed, from the very beginning, to retain cash value into his elderly years.

[@joshuafootman1593]

@@McFie-Insurance I wish you wouldn't bang on IUL when you clearly showed a terribly designed policy where the client bought way to much life insurance with his policy. Also he bought the policy with a option A where his cost of insurance was just to high, if he had decreased the amount to $500,000 increasing he would be in a better situation. I hope you know new IUL's can get same fixed guaranteed rates like a whole which is 3%-4%. There is no such thing as a bad insurance product just bad Agents who over hype the product to shame others .

[@joshuafootman1593]

@@ZanderOKC well said my friend!! Thank you !!

[@adamm8005]

So basically you're saying all life insurance policies and the companies are pretty much pieces of dogshit?

[@Vickyewong]

She reminds me of Susan Dey of the Partridge Family

[@jinyangzhou5936]

I have 3 IUL(index universal life) policy for my wife, my daughter and I. Thus I don’t trust life insurance company. They will try to destroy your policy when you get older and eat away your premium. So you will end up nothing if you don’t put more money in. Btw when you get old, your monthly premium Is a magic number, it’s up to insurance company to whatever they want to charge you. What can you do? You can’t do anything, it’s written in the 50-100 pages policy contract. Buy these policy based on your goal. It’s definitely not a investment. It’s a liability that you have to put money in every year to keep the policy active. I am putting money in my wife and I’s Roth IRA try to make it up my lost that these policy is going to hurt me in my 60s. Hopefully cash value doesn’t run out in my IUL policy that I would need to withdraw money from my Roth IRA to cover the shit that IUL’s premium.

[@relic4948]

Very insightful...she knows what she’s talking about.Thanks for sharing

[@royaltylifestyleofficial848]

Hmmm... Interesting, but not completely true! Some of her points are very misleading! Of course, her narative is to try and push and promote whole life policies! An agent should tell the client the pros and cons about each individual types of insurance and help the client make a better decision. Unfortunately most people don't know which option is best for them, nor do they have any interest to learn about it when it comes to life insurance in general. That's when insurance agents take advantage by keeping a nice smile on their face. No wonder why insurance agents are the most hated "sales people" when it comes to sales! If you're looking for a life insurance policy, and would like an unbiased point of view, feel free to reach out!

[@cocopuff6810]

Question: what would be best policy for single mom Grown kids but one special needs. Own no property, a lil amount of money in bank 50yr old woman who smokes cigarettes

[@enriquezpalaciosassuranceg2532]

Great presentation and yes is true after age 60,Universal Life gets to expensive,because of the RTR, I have seen people loose their shirt om Universal Life. But it all depends on premium affordability. I would rather buy Term,if I can not afford Whole Life...

[@samuelhart5580]

Is insurance a good course to study in the university?

[@breathingabundance7754]

very well put together and great delivery! thank you for this presentation I feel so much more confident about buying insurance now!

[@McFie-Insurance]

I am so glad this was helpful for you. We are licensed to sell life insurance in all 50 states. We would be happy to help you: www.life-benefits.com

[@mainengmoua]

King Ra uugoiBg. Cvvvvcvvggggvvvgghhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhhghhhhvgggg. Srather

[@adambrent4076]

Wow! She’s great! Thank you!

[@irenelee1357]

Hi I have an Index universal life policy for 3 yrs now ,paying 400 per month for 33 months ,don't know what to do to cancel it or

[@irenelee1357]

W

[@irenelee1357]

What

[@thir671]

is depende how old are you and why did you get it, also the amount of it

[@McFie-Insurance]

Hi Irene, Before being able to make a recommendation either way we would need to look at a copy of the inforce illustration. You can get this either through your agent or by asking the insurance company directly. Once we have the inforce illustration we'll be able to look it over and give you a complimentary insurance review of your policy and show you what's happening so you can make the best decision for you. Please email your inforce illustration to: [e-mail] and we'll reach out to you to schedule a time for the review.

[@arifurrahman9809]

Nice content.

[@VTala-ly4jb]

The information on Universal Life is misleading and also some info like minimum and maximum premium allowed are not displayed. We don't know if the client was contributing at a minimum premium. For a $1M plain UL, I would expect more than $400 a month to sustain it. Plus not all ULs are built this way, some companies' COI stops at age 90 others are continuous thereafter. Also why go plain UL, what is the goal? Universal Life is good but it depends who you to talk to!

[@Veedalala]

Great presentation and explanation on how life insurance works. Great job!

[@SuperGreatSphinx]

en.wikipedia.org/wiki/Life_insurance

[@joshuafootman1593]

No she explained this terribly wrong she is selling you that whole life is King which is false . It's a expensive conservative insurance product with guaranteed death benefit and premium payment.

[@lashandajohnsonjohnson7632]

Wow... I’m under insured going off personal and I hv Universal. I wished I would’ve found this before purchase.

[@bithibithi4989]

Amazing vedio

[@lmarcu91]

As a life insurance agent she is definitely wrong on term paying the most commission. Whole life typically pays the agent the most. Could be why she is selling it harder on stage.

[@ZanderOKC]

Agreed. I've seen some companies pay over 100% commisions on whole life plans and paying less than that on term plans.

[@jemilagulston7742]

I agree 100

[@lmarcu91]

@@ZanderOKC late reply, but yea I pay my own agents well over 100%

[@armandogrijalvaiii3547]

Hello where did this information come from I'm trying to be coming up insurance agent please help me out with this decision I'm making and what do you recommend me do so I don't get the Clint the wrong insurance policy I know you explained from the video where can I research this claim her with this claim Insurance name so I can know not to get it on universal insurance policy

[@kimsloanlee2766]

If you can afford IUL in 20 years buy IUL

[@pamelaferguson6463]

A big thanks to Africa billionaire on KZbin for introducing me to mutual benefit assurance plc, I was able to build a house and bought a car with one of their policy, am so happy.

[@wtfu812omg]

Can anyone explain why my life insurance company has sold my policy to another company and is that normal? I’m supposed to get the whole payout it back when I hit 65 anyway or if spouse dies . I just find it strange that another company now holds the policy and we were never informed that it could happen when the broker came to the house

[@ZanderOKC]

Company or 'book of business' was probably sold to a company that either services the policies or the previous company went bankrupt and were forced to sell those contracts to another company. This is not rare, but also not common.

[@danktankdragkings7117]

is this compliant to share on social media?

[@McFie-Insurance]

Yes, you are welcome to share on social.

[@obethdavila7024]

The example on the IUL was a bad example to show, that clearly was a greedy agent looking out for his own interests and not the client. You get an IUL for the cash value at the end, and needs to be overfunded. You DO NOT get a IUL for the face amount. He would've ben better off getting a $750K term and an IUL for $250K and spend the same money per month, while having totally different results.

[@jeremyhull7916]

Use 1of the 4 big mutual insurance companies to start IBC.

[@feliciamoore5180]

Where and when does Term life pay more than whole life when whole life is higher in premium???

[@anthonycaretti5107]

I said the exact same thing Replayed it twice to make sure I heard correctly New to me

[@kadenarguello7679]

Because with term you have to renew. Well when you're 80. You are now uninsurable and now guess what? All the money you paid towards the term insurance. Isnt covering you anymore AND you domt develop cash value with term on whole. Whole life is more but in the long run, it's worth it. Imo. Now there are way more details that are involved

[@kadenarguello7679]

Only whole*

[@kadenarguello7679]

THAT BEING SAID, I AM NOT AN EXPERT JUST LEARNING. BUT I AM NOT A FAN OF AN UL.

[@j.zapata74]

Term pays more because it is not permanant and just pays out a death benefit..

[@harrisont.griffin4654]

Whole life 16:20

[@nopeace3689]

Can you use the Universal Health Insurance for a company I use the company as a beneficiary and can you cut it off around the age of 40

[@sarojthapa4218]

Could you please make a video of Index Universal Life Policy (IUL) too?

[@licenze2killu927]

I work in insurance. I actually get paid more for whole life insurance. I dont think all companies are as bad as she is saying. I am required to do a needs analysis before suggesting how much life insurance a person should get. If someone is covered properly I do not make a sale unless the person just really wants our product or wants to add more coverage and has money to use for something like life insurance.

[@McFie-Insurance]

Your username: "licenze2killu927" doesn't inspire trust, but we are happy to hear you say that you are not selling people on unnecessary insurance! Kudos.

[@AT-wx2bw]

No Subsituttes out there, Very much Educational!

[@thir671]

i send universal life here in panama and anythign can be change after you purchase the policy

[@PoetClbrown]

Loved this. Very informative. Something I've always wondered. If you purchase a term policy. Say a 20 year policy and you outlive those 20 years, what happens then. Does the company pay out the policy one the term ends, renew the policy for another 20 years , pay you a percentage of the policy? What?

[@McFie-Insurance]

Glad to hear you enjoyed the video. If you purchase a 20yr level term policy and you outlive those 20 years, one of two things can happen: 1. You can choose to continue the policy at a much higher rate that increases every year 2. You can stop paying the premiums and the policy will expire Term insurance is a temporary insurance, so the insurance company will not make a payout unless you die while the policy is inforce (term policies stay inforce with premium payments). If you are still in good health when the level term period ends, then you will have the option of starting a new level period. The new level premiums will be based on your current age and health. If you are in good health, opting to start a new level period is always less expensive than continuing the original policy at the increased year-by-year rate. Of course, there is an age limit for purchasing life insurance, so if you continue to outlive the level term period there will come a time when renewing the term insurance will no longer be an option due to age restrictions. Some term policies have a "return of premium" feature. These types of policies tend to have higher premiums. If you have a 20yr "return of premium" term policy and you outlive the 20 years, then the insurance company will refund the premiums you've paid (or a portion of the premiums you've paid).

[@PoetClbrown]

@@McFie-Insurance wow! Thank you. Sounds like Term is a sure bet at losing money unless you're expecting to die

[@christiantdavid]

How much do you get out of your auto insurance policy after 20 years? How much do you get out of your health insurance policy after 20 years? How much do you get out of your homeowners insurance policy after 20 years? How much do you get out of your cell phone insurance after 20 years? How much do you get out of your term insurance after 20 years? If your car insurance company said hey instead of paying us 1000 a year, give us 10,000 a year and will build you a cash value would you do it? Would you do it with your health insurance? Would you do it with your homeowners insurance? No you wouldn’t. So why would you do it with your life insurance? There is no good reason. Commissions on whole life insurance are far greater than those on Term. And whole life insurance is far more profitable for the companies to sell than term insurance. Term insurance is WAY less expensive than whole life insurance. So with the money you save, you could put it in a IRA, 401(k), that invests in a great mutual fund and you will be far far better off.

[@mdsumonmahamud7951]

Nice video

[@beckyelliott2871]

So, based on comments below, WHO AND WHAT CAN WE TRUST TO TELL US THE TRUTH????

[@sherminkazemkhani787]

Of course not a person who is clearly biased towards a specific type of product and putting down the others! What we do as financial educators is to define the basics and show them benefits and together decide which one suits better. She is so biased

[@michyarreola8029]

What happens when you outlive a term policy ? If you don’t convert it .

[@McFie-Insurance]

When the level period of term insurance is finished, the premiums will rise to an unaffordable amount. If the premium is not payed the policy expires.

[@kimsloanlee2766]

example after term 30 years ,you didnot buy other term, or convert you lost all money .Why do you buy term ? because it s affordable it s cheapest

[@beamerz9398]

What happens when you die and miss payments and they cancel your insurance? can your family reinstate it?

[@McFie-Insurance]

Hi Beamer Z, once the insured dies, the policy's death benefit is paid out. A policy can not be continued once the insured dies.

[@beamerz9398]

@@McFie-Insurance thanks, because I checked dads mail and it showed he had some unpaid instalments after his death and I was thinking his policy might have gotten cancelled.His lawyer is handling it now.

[@ricardocruz2329]

I wish she can tell that to Dave Ramsey .nothing better than Term insurance .

[@nancyketchum359]

Am 62yrs old when I get ready to retire from my job do I roll over my401 I through my work or you

[@Arken2249]

Never roll over an investment into a permanent life insurance policy. Life insurance is not an investment. Life insurance agents do not need securities licenses to sell life insurance. Life insurance companies are middleman who take control of the investment to make profit for the company, not you, and charge you a ridiculous percentage of your investment. Find a good licensed investment advisor for rollover options to real investments.

[@alexandramcgonagle5251]

Life insurance is not an investment at that age. I am a licensed agent specializing in Medicare and retirement planning. You can look me up on the Texas Department of Insurance and find my info. I am here to help :)

[@ummehumayra7539]

amazing for video

[@TheInsuranceDudes]

GREAT EXPLANATION!

[@milesesprit7601]

Thanks for the very informative video. Learnt a lot and I'm relieved to have whole life insurance but wish I could pay what ppl in huge countries pay a month.

[@Arken2249]

Permanent life insurance policies are very ineffective ways of protecting your family and building wealth. Do yourself a BIG favor and read "What's Wong WithYour Life Insurance" by Norman Dacey.

[@thevipgurlz2802]

How wonderful now we have a clue ..otherwise if you wouldn't know which questions to ask

[@jjf1058]

Whole life insurance is the best because pays better commissions to the agents. Never buy a whole life insurance, always go to term life insurance.

[@theforce5191]

You don't know what you're talking about. It all depends on the policy that's written. The higher the commission, the more the customer pays but in some cases its not best for the customer.

[@LorcanaMomma]

Great explanations, thanks!

[@thir671]

the real problem in univeral life is .as flexible primium program is pay below of ther risk primium , my advice is pay the right one for your age , amount etc ,sorry about my english

[@nooriyasafi]

Whole life pays fat check to agents not term

[@McFie-Insurance]

Commissions are paid based on the type of insurance, and the amount of insurance you buy. Commissions can fluctuate greatly based on how the policy is designed, an agents persistency rating (ratio of policies that are kept in-force to those that are canceled), and their production volume. This video is a good insight into how much commission is paid on a well designed Whole Life Insurance Policy: kzbin.info/www/bejne/oXLWgI2lqs13etE

[@abhaypuri4765]

universal life insurance good

[@McFie-Insurance]

Are guarantees important to you? If they are, why would you say that universal life insurance is good?

[@milesesprit7601]

So whole life insurance policy is the best? I'll go to the office and ask to review my policy to ensure I have the right one.

[@akangell]

If designed poorly this is true. If designed strategically, the commissions are cut by about 90%, and the vast majority of the premium you pay goes directly to cash value on day one.

[@frankrekas5511]

This is NOT an accurate explanation of how "permanent" insurance works. That Universal Life example is unfortunate because the advisor who sold it, sold it at the minimum premium. That's not how you fund a universal life policy. Too many advisors take the path of least resistance, and show the minimum premiums. She is also wrong about commissions. The problems that are created by agents are that many of them don't have the proper training, and many of them don't know how to sell any of these products. Also, I didn't hear her say that dividends are not guaranteed. And the lack of flexibility of whole life premiums. There's different policies for different people. There is no one size fits all. If sold properly, any of the various types could be right for the client.

[@RK-zs5j6]

Thank you very much. Great presentation and well explained.

[@giandavidpanetta3638]

@Life Benefits Aren' t Universal Life policies based on interest rates, not investments. Investments are in the Indexed Universal Life NOT Universal Life.

[@donaldcooper3156]

Why are her premiums so high? I pay 125 a month for 250k whole life and she has 300k at almost 1000 a month in premiums because she said it was over 12k a year. Am I missing something?

[@McFie-Insurance]

There are many variables which will determine the premium to death benefit ratio; Age, Sex, Health, Financial history. The cost will also vary with policy age and design. For example, a whole life policy will cost more initially than it will after it is 10+ years old. And if the policy is purchased for high cash value growth from the beginning of the policy, the initial cost will be higher, but so will cash value growth. Whole life policies with low premiums may mean low cash value growth as well.

[@donaldcooper3156]

@@McFie-Insurance how does one go about buying the right policy? I have a IUL with Mutual of Omaha but I’m not sure if it’s constructed right . I’m assuming I need to request a copy and go over it but not sure exactly what I’m looking for because I know sometimes it can look good and not be . For example have a promised 1% bottom but charge you 2% for participation so in that case you actually lose money . I’m guessing the 10k premium is the annual amount and they are maxing out basically each month. From what I understand it’s usually 4 times your monthly premium? Do y’all help with policies or sell polices as well. Iv been watching all of y’all’s videos lately and sharing with friends.

[@McFie-Insurance]

@@donaldcooper3156 Yes, the first step would be to get an "inforce illustration" of your current policy from Mutual of Omaha. Usually they can prepare it for you in a week. Once you have this illustration we would be happy to look at it with you and show you how it's designed. If it's a good policy we'll let you know. If you can do better we'll let you know that as well. We design and sell life insurance in all 50 states. If this sounds like it would be helpful, please email [e-mail] or call us 702-660-7000 to schedule a good time for the review. It would be a pleasure to assist you.

[@MegaYoungday]

would the IUL work if the client takes out a very small DB from the beginning to let the cash increase bigger for years before using it to pay premiums? Maybe they add a level term with a higher DB to cover them in younger years. I know it's still no guarantee that the investments will do well; I just think the guy got screwed because he overused the "flexibility" and took to large of a policy out when he couldn't afford it in the first place. (Really the agent's fault)

[@McFie-Insurance]

You bring up a good point. If death benefit on an IUL policy is minimized and cash accumulation maximized, there can be a chance of keeping guaranteed value in the policy. You would probably still want to keep at least the required relation between Premium, Cash Accumulation and Death Benefit to keep the policy under the taxable MEC limit - which limits how low you can go on the death benefit. And either way you still have to deal with all the conditions in the contract that the Insurance Company can change along the way. These "flexible conditions" written into IUL contracts are some of the biggest risk you would take own as an IUL policy owner. As owners and proponents of Participating Whole Life insurance, we prefer the solid guarantees with 0 market exposure and the ability to share in the profits of the insurance company which only come with Whole Life.

[@McFie-Insurance]

Another thought: If you like the prospect of investing in an index, you might be better off buying a smaller amount of whole life and term insurance and then investing the rest directly in the index of your choice? After all the way an insurance companies guarantees a minimum rate floor on IUL values is by hedging their position by purchasing options on the index, so you could do the same if desired and take out the middle man. Our thinking = Get your guarantees as guaranteed as possible with solid whole life insurance rather than trying to mix in an opportunity for gain which comes at the expense of less protection and more unknown risk in IUL.

[@lizadowdell3151]

Well nlg have a min of 1% on the cash accumulation and no cap on the iuls. 100% participation

[@arulkarthi6503]

The sad part is she didn't explain what will happened to the saving potion. The insurance company keeps the saving and pay the coverage.

[@sheronbarlow7549]

Facts

[@donaldcooper3156]

Can you explain to me please?

[@christophergc2021]

100% right. And the rate of interest is awful. It’s better to put money on a savings account and write a will for who should be entitled to that

[@livly9]

I’m confused I thought the surrender amount and the cash value was the same?

[@McFie-Insurance]

These terms are very similar...and synonymous some of the time. There is a technical difference which is probably what seems confusing. Cash Value is like your "equity" in the contract. Surrender value would be what you get if you cash out the policy altogether and walk away. Surrender Value will sometimes be slightly higher than Cash Value in a Whole Life policy, but pretty much synonymous for practical purposes. Surrender Value in a UL contract can be lower than Cash Value if there is a surrender fee on the contract. Hope this helps.

[@johnm.3279]

@@McFie-Insurance Having been in force for over 15 years the UL shouldn't have any surrender charges. A more likely explanation for the difference is the owner borrowed from it and there's policy loan outstanding.

[@chumkiisrat3065]

Wonderful

[@nationalbrokerage4639]

Great video

[@joshuafootman1593]

Lord this lady has no idea what she is talking about with Index Universal life , that guy bought wayyyyyy to much life insurance. He should have got $500k with option B increasing.

[@keirachel8005]

seems like a rookie in her field.

[@lashandajohnsonjohnson7632]

I just purchased a IUL and nervous now? I feel that I’m paying way too much for little coverage and following the speaker’s example, I’m screwed.

[@joshuafootman1593]

@@lashandajohnsonjohnson7632 I'd reserve those feelings , IUL is designed for you to over fund and get returns in the market. WHOLE LIFE is a product that's like a CD. Conservative and small returns .

[@kimsloanlee2766]

@@lashandajohnsonjohnson7632 ARE YOU LOOKING FOR CASH VALUE ? YOU DONOT NEED BIG AMOUNT DB

[@jewelsoncagakit771]

This presentation is an eye- opener. But what are the basis of those "Red Tags" clipped on the sample UL policy? Does it posed a variety of risks that the policy owner made in his life? I guess the question need to ask is, what insurance company offers you a better one?

[@McFie-Insurance]

The red tags clipped on the UL policy are visual markers highlighting clauses in the UL contract that gives the insurance company complete authority to change the policy contract without requiring additional signatures or permission from the policy holder. These red tags are not tied to the risks a policy owner has made in his/her life, but rather the risks a policy owner assumes when purchasing a UL policy.

[@mdshahajan2466]

Nice

[@janicesimms6542]

Great presentation for Dummies😂😂

[@akterhossain9567]

So good

[@johnm.3279]

Your analysis of the UL is poor. That policy was grossly underfunded from the start (the agent that sold it to him that way should be horsewhipped), but the illustration shows it lasting about another 7 years, not 1. The "guaranteed" column shows the 1 year, but that's only if the insurer raises the COI (cost of insurance) component to the maximum amount allowed by contract. That's highly unlikely as they can't single an individual policy out, they have to do it for the entire risk pool. The best solution for that client would have been to explore a life settlement. Based on his health, the policy could have been worth a LOT more than the surrender value.

[@Kellysboyle]

watch Wealth Architect, he will explain why IUL is the best out there for many people. You are incorrect but yes the policy you present was not set up correctly. I agree with many of the other people who said the same thing.

[@wolfenstien13]

So many insurance providers hating.

[@brianstokowski2399]

As broker with nearly 20yrs experience, I appreciate the detail that is factual, however, this is completely subjective. It a sales presentation, not education on the pros and cons of each product. Get educated, sit with a professional.

[@theforce5191]

What was subjective?

[@abmhasan5924]

Better keep the money on checking account. Not in saving account . Checking account money bank can’t invest for their own interest. It’s always available for the account owner

[@tsciproperties7619]

is converting the term that easy? Doesn't he need to pay a lump sum from his original age?

[@McFie-Insurance]

The first step would be to complete the conversion application. The insurance company doesn't ask any health questions, but they do have financial and lifestyle questions to be answered. Once the conversion has been processed, there is usually some type of premium credit to be applied to the new policy. If the term policy has been paid annually, a portion of the unused annual premium will either be refunded or transferred over to the new policy as premium credit. If the policy is paid monthly the premium credit will be much less. The new policy's premium will be higher than the term policy for two reasons: 1. The new policy is permanent coverage and permanent insurance always has a higher premium than level term coverage. 2. The converted policy matches the insured's current age. The policy owner does not have to come up with a lump sum to catch up premiums from his/her original issue age on the Term policy.

[@ethanmasters]

Anne Perkins?

[@btc1m654]

Ethan Masters exactly my thoughts she looks the same!

[@renzvizconde7093]

What is the safe interest cap that guaranteed return from investment?

[@gustavomachado6340]

Hey Renz, connect with me at [e-mail] or [phone]

[@jessicaacosta5639]

I got all of that