Universal Life Insurance Policy: Everything you need to know / Garrett Gunderson

[@donyemonroe4577]

So there's a difference between universal and IUL correct ???

[@GarrettGundersonTV]

Yes. Universal life has a fixed interest rate declared from time to time. IUL utilizes or is tied to an index and can fluctuate.

[@WWIIPacificHistory]

IUL’s are meant to be self insurance with all the inherent tax benefits. As long as you understand that and actively manage the Death Benefit to the 7702 minimums it’s a great and efficient product even in the later years.

[@GarrettGundersonTV]

Well. I have one IUL but prefer whole life and the guarantees. Finding it properly is absolutely key. But lots of levers that can undermine the value and return. Must look at non guaranteed side and what happens when you use the cash value.

[@killerinJP]

@@GarrettGundersonTV so the target shouldnot be teach more people how to drive the car, but not saying car is bad, we need to go back horse right?

[@trevorramos8616]

I don’t understand this because I just ran an illustration for a UL product with protective life and the premiums seemed level until the age I wanted the policy to end (95). I didn’t see anything about an increase in premiums. The catch was the policy had no cash value and if the customer missed their premium, they couldn’t rely on cash value to bail them out.

[@DustinWylie]

Fees in financial advising and Whole Life are high. A typical advisor makes 100% of the age 65 retirement account balance. AKA you have a 401k for 40 years, they make 1% per year and you end up paying them 6 to 7 figures, even if they lose your money. Also, in whole life, it truly is for high net worth people because it can be used for estate planning and cash value growth but the low COI in an IUL is better for low income peoples

[@GarrettGundersonTV]

The COI of IUL can be problematic based upon mortality, net amount at risk, and it is important to look at guaranteed costs to know the downside.

[@DustinWylie]

@@GarrettGundersonTV you're right. I always tell anyone older than 45 that the COI even at a 90/10 split. But unless the policy is horribly designed, it would take years or a illness to cause problems. But the living benefits covers the latter

[@killerinJP]

@@GarrettGundersonTV did you look for guarantee for 401K? Would you throw your iphone on the floor to test how strong it is? Did you really see some good IUL policy statement over 10-15 years? If you need we could send you a lot, not for living benefit or death benefit, but people who already start using money for years

[@wheredalambo]

SO what would be a newer policy that is more beneficial for young people? any resources?

[@DaveCraig1202]

There is an IULs that has no caps with a proprietary index that is well diversified to be very safe and has performed unbelievable in the last 10 years. They actually have raised the uncapped participation rate while other companies are lowering rates like you are referring. In addition, what about the fact that the cost of insurances is much lower and death benefit higher than a whole life to start. How about comparing the cost of insurance as a lifetime cost? The gains can very well offset that. Also, if you have a great company, that is a mutual company, their job is to keep the cost of insurance down. The same company that offers the best IUL also offers whole life.

[@astroman30]

I hate ALL trash value insurances including whole life and IULs. Yet, by all means, name your provider that GUARANTEES uncapped gains on IULs. I'll screen shoot your comments and send it to them to make sure you get the commission.

[@asterisk911]

You simply have to know what you're getting. A lot of investors in real estate syndications like to use indexed universal life policies as a place to park cash between real estate deals, and they explicitly compare those insurance policies to savings accounts, not to investment portfolios. If your goal is to benefit from long-term stock market gains, then obviously these guys are correct: eliminating the downside and eliminating the cap, i.e., by just investing directly in the stock market, would generate better returns.

[@brucepritchard7505]

If you were retired would you pick bonds over this vehicle?

[@brucepritchard7505]

The header is Universal Life Insurance. Not Indexed. No caps. From the perspective of a retiree the down side of the market is devastating. I would also like to have higher returns than can be had from a 40% bond portfolio. Plus Death benefit and no taxes. This video is shortsighted and biased. I lost my ass in stocks and bonds in the past 20 years. Yes there has been a couple of good years but a load of bad ones on a regular basis. Is it for everyone? These guys are calling it the devil. I think shortsighted.

[@brucepritchard7505]

By the way I bought in with very scary 500k of brokerage account. I sleep good.

[@429mas]

Ul wasn't built to maintain a high DB its meant to be structured using Max premium minimum DB doing so your really under paying for COI and avoid over paying as you age

[@financialownership]

11:36 Well when you take a loan on a policy you have the option to take a fixed loan say 3% and the company will charge you the same amount. You can also use a participating loan where you can get full exposure to cap and floor. It is much more flexible than whole life and you can get a fixed account just like whole life. The problem isn't the product its just how most agents structure it. It can be the best thing you own or the worst thing you own.

[@leosuarezjr8479]

Y'all never heard of a Roth IRA 12% ror with mutual funds playing the sp 500 ? Are people this dumb? Never listen to a boy with a man bun 😅😅😅

[@cobraralph]

A well-designed IUL is the key and is extremely effective in building tax-free wealth while also protecting your life, assets and health care cost. Make sure you have an agent that is a master at understanding the intricacies of an IUL and has sufficient experience in designing them.

[@astroman30]

IULs are garbage with their high fees/commissions and capped gains.

[@leosuarezjr8479]

🤡

[@limitlesscoker6669]

@@astroman30 Yours was not designed properly apparently. That or you must work for the guy who’s putting on this bullshit KZbin video

[@texasowl5356]

@@astroman30 lol they are less than whole

[@astroman30]

@@texasowl5356 both are garbage

[@jacobcollier9899]

Could you please make a video showing an IUL policy that was taken out at least 10 yrs ago? Then you could prove that it doesn’t work. I want to believe you guys, but put up or shut up. Not being rude. Just need to see it. Thanks.

[@GarrettGundersonTV]

It will be fine in 10 years. But what about 30? I have one IUL but many more whole life policies. I'm doing a video with illustrations and calculators, just requiring a lot of time.

[@alexmb88]

11:15 how do you not know the answer to this….? I mean it’s fine if you don’t know. But don’t make it sound like there’s some hidden scary thing behind it. And then on the crediting you guys are speculating without having done any of your own research. There are no cap strategies, participation rate multipliers, etc. you guys really need to do your research in 2022

[@yodhangzien]

Contribute more cash value!!!!

[@Visionary0001]

I'm a big fan of Garrett Gunderson, BUT I'm also an even bigger, loyal fan of DOUG ANDREW, and his proven methods regarding max-funded, Indexed Universal Life (IUL) insurance. I have reviewed Doug Andrew's case studies closely, and spoken to some people who have used them. It is my professional opinion is that Garrett's presentation of this topic is well-intentioned, but flawed. These two are saying the equivalent of if someone structures a real estate deal wrong and loses money, that ALL real estate deals are therefore bad investments.

[@stephengilstrap]

Doug Andrew is a fast talking scammer. Go ahead and get your IUL and then wait for 10 years and see what its doing. Doug Andrew has been sued multiple times for losing peoples money in his "investments".

[@astroman30]

IUls are garbage with their high fees/commissions and capped gains

[@Visionary0001]

@@astroman30 My friend, if someone encounters high fees + commissions, this is because the "design" of the policy itself (meaning how it is mathematically structured) was intentionally designed wrongly, and this was done by the individual agent who presented and sold it to you. He/she was too greedy, and not honest. About capped gains, the Laws of Mathematics don't allow for a vehicle that can provide ZERO possibility of market loss risk, while also having unlimited upside risk, in the same investment. Your investment would have to create money out of thin air, to accomplish this!

[@astroman30]

​@@Visionary0001Well Sport, over 90% of long term (5 years or more) good growth mutual funds have made money with NO capped gains. Keep in mind, very little (like none) of the cash value in an IUL is actually invested in the stock market. You can't even get a GUARANTEE from the insurance company that it actually gets invested. Most of the time, the client/victim receives about 2% ROI which is garbage. Hence, it's less than the rate of inflation. Also, with all the fees/commissions tied to this trash value policy, the cash value dries up leaving the client/victim out of pocket costs to cover the term policy that increases every year. So, you "ZERO possibility of loss" doesn't hold much water does it? Don't act like it's the agent's fault of this type of policy. We all have seen behind the curtain of OZ and KNOW how this nonsense operates. This is the way ALL of the policies are designed by the providers. I have NEVER seen an IUL policy that wasn't riddled with ridiculous high fees/commissions. This is why so many get out of it paying a "surrender" fee and cut their losses. Seriously, why would you ever want an insurance company to invest your money in the "stock market?" Try harder.

[@PK-ev8dp]

Well said! They are calling out without knowing full facts. If you do the math on 401ks, they are not designed just to benefit the client. They are designed to help the companies play with your money for decades and for government to earn huge taxes.

[@prodson8310]

So I have just invested hours upon hours of my time trying to figure out if bank on yourself and infinite banking system is good for my family. I thought I had it figured out. Why should I believe this video? You said you understand the way it works therefore you don’t have to focus on numbers daily. I have subscribed to your channel but I never understand you. You seem to always talk in circles. What is the answer to wealth for a broke family of 6. It seems that you just keep talking

[@PK-ev8dp]

Everyine has opinion on what may be bad but nobody seems to tell you what is good

[@zanru6897]

There are quite a few industry agents that have started policies with as little as 100 dollars a month, some even less, when they were essentially broke. But really an IBC policy isn't going to magically fix all your monetary problems fast, especially not with low investment, it might show some use in a few years certainly, buts its not a get rich quick scheme. Its part of mindset and habit changes that further build the groundwork for financial stability that then leads to wealth. Realistically if you're in a broke family of 6 then there's probably several other problems, mindset changes, and budgeting issues you're going to need to address in tandem, and its very difficult to know what or how much this option will help you when all that is known is "I'm broke". These kinds of policies are not one size fits all, they need to be catered to you and your needs/situation.

[@GarrettGundersonTV]

Plug financial leaks. Invest in yourself. Grow your income by adding more value. Create more certainty and less risk. Invest in alignment with your investor dna.

[@Simonsaysboxing]

Good video but neither of you said anything about an income rider included in an IUL. Hmm..

[@LIFE180]

in fairness, the income rider ONLY comes into play once you start pulling income. I see that sold by IUL agents as if it is some amazing thing, but I have seen TOO many IUL's blow up before the Income Rider has a chance to be used....

[@Simonsaysboxing]

@@LIFE180 that's only cause the agent doesn't know how to structure it

[@LIFE180]

@@Simonsaysboxing I would argue that it's because they are after the commission 🤔🤔.

[@Simonsaysboxing]

@@LIFE180 that would be correct. Low character agents yes

[@astroman30]

@@Simonsaysboxing IULs are garbage with their high fees/commissions and capped gains.

[@in_our_60s]

If Set properly to benefit the client, it does not Fail , its just a smaller commission for the Agent

[@Unplugged704]

I hear and see this response all over YT… “If structured properly” What does that involve, how is it structured to benefit the owner/beneficiary? And to date.. I have not seen that answer…

[@ghostoferlock]

@@Unplugged704 You see those words without an answer because people say something to try and attract views without knowing what they are talking about. Agents like to sell a policy to make a commission, and talk about certain things in a policy. IF structured properly, in here goes, a policy that accumulates equity purchases units in sub accounts. Those units can also be sold to pay for insurance costs. Problem is that money if put in at a market high, and taken from that same equity when unit values are down, it takes more units to pay insurance costs. Buying high and selling low. Putting money into a daily interest account in the policy, along with the more aggressive sub accounts can make a huge difference. A daily interest account doesn't climb or fall, putting enough money into a daily interest account each time to cover insurance premiums, will remove this problem. Investing the remaining amount into sub accounts will help money increase in value. No units would be sold, just bought, you would be dollar cost averaging into the policy, and holding the units for years. If you look at a policy illustration, see that premiums are 20 or 30 years. A decent policy won't try and load money into it within a few years. To put more money into a policy within a few years, a benefit needs to be higher, and if the benefit is higher, the commission is more. Agents like to try and sell the idea of a paid up policy in 8 years. That might mean 2 or 3 times the benefit, meaning higher commission. Looking for a policy that includes benefit and account values when paid out is an option. Looking at final plans is a good idea, most people can save lots of money by beginning to pay on them.

[@pavolpatriot]

@@Unplugged704 The basic gist is you want to pay the maximum premium for the minimum initial benefit. This way there is less insurance cost, less expenses, etc.

[@rukiddingmeNJ]

@@Unplugged704 Many “advisors”‘say that but most of the videos I see on YT, they don’t know what they’re talking about.

[@prodson8310]

Oooohhhh I just saw your ad for your wealth factory. So I have to purchase your product. That makes sense now

[@leenaparwani1718]

Lower risk comes at cost and we see all kind of clients.... Some who understands and willing to pay for guarantee cost and some sees lower premium. UL is way better then index UL. We also have to look at what is less bad for clients ....as most UL product do come with one or the other hanging risk ....

[@Unplugged704]

And high risk also comes at a cost.

[@marilyngardner2332]

MY DAD DEVELOPED UNIVERSAL LIFE!!!!!!!!! Would LOVE to get in contact with you to see if my dad would be willing to discuss this product with you. Since he developed while working for EFHutton in the 80’s. Send me a message here

[@GarrettGundersonTV]

What. That's crazy. I'd love to discuss. [e-mail].

[@ljrockstar69]

I hate insurance, I have more returns into a good ETF, guaranteed!!!

[@GarrettGundersonTV]

Do what works best for you. ETFs May have a rough ride for a bit and would have earlier if it wasn't for quantitative easing. Protect your downside. Focus on cash flow.

[@russdenney]

Ya well...when you've delivered a few life insurance death benefit checks and saved families from utter financial ruin, you might see things differently. My own wife has had 3 brain tumors and is totally disabled. I have the same plan in place on her as I do with my clients - she never has to work another day in her life, her life insurance is now fully paid for, and increases in death benefit every 3 years regardless of her health - and the insurance company is paying the premiums on the increases. These products are first and foremost life insurance - and should be sold to people who need it.

[@billy-boy8]

Well done guys.. i think eventually iul would probably be outlawed. Too many suckerz

[@davea221]

Hmmm too many different opinions! Some say Good and some say bad who is lying?

[@GarrettGundersonTV]

Or who is most misinformed. Time will tell

[@caros4279]

No risk? Bernie madoff

[@GarrettGundersonTV]

?

[@rukiddingmeNJ]

I can’t believe the amount of false and not so true information here. Here is a fun fact, the target premium that the commission is based off of is the least when the IUL is designed correctly for cash accumulation. At the end of the day, DONT PUT ALL OF YOUR MONEY IN JUST ONE THING! The advisor that promises a percentage, run away!

[@GarrettGundersonTV]

What about the options budget, caps, rising cost of insurance (M&E)?

[@rukiddingmeNJ]

@@GarrettGundersonTV You’re talking about these things as if they were new or some kind of trick. Caps are nothing new and the fees are front loaded and over the course of the insured’s lifetime it equates to approximately 50-60 bps. IUL isn’t perfect however, if done correctly can be a great bond alternative. I normally reroute about 5% of investment income to premium depending on retirement plan goals.

[@GarrettGundersonTV]

Why not just use whole life...agree that is a great fixed income alternative with less risk.

[@rukiddingmeNJ]

@@GarrettGundersonTV There’s nothing wrong with WL. I’m an independent advisor and I use term, GUL, IUL, WL and life/LTC hybrid. The only life product I DON’T use is VUL. I am an IAR however, permanent life is usually a part of a comprehensive retirement plan that I recommend.

[@arthurandrews113]

They contradict one another. At 10:09-10:50 they discuss the danger of market volatility then at 14:44 admit the volatility nets more in the long run 🤨 It you don’t understand just say that smh.

[@IntheEndAhNevermind]

The market can stay irrational longer than you can stay solvent. Bad downturns can destroy a model.

[@arthurandrews113]

@@IntheEndAhNevermind Sorry, I don’t understand your reply. Define irrational, staying solvent and financial model in the context of ULs and other market based vehicles, if you would lol

[@IntheEndAhNevermind]

@@arthurandrews113 Irrational meaning, stock prices not matching true value. Solvent meaning, not having money to pay liabilities (insurance payouts for example). Insurance companies develop financial models, price probability estimators, for the underlying risk factors. In this case, stock prices and health of their customers.

[@arthurandrews113]

@@IntheEndAhNevermind Well over the long term the market corrects back to some parity with intrinsic value, but yes there’s always irrationality. The solvency of Ins companies as I understand it more a function of them acting as a bank. Similar to fractional reserve lending. They only need to be solvent (liquid) to cover near term liabilities, near term deaths, and predicting death is what they are experts at. As far as financial modeling goes I’m not very sophisticated in that. However my intuition is that the death benefit models are more dependent on age and premiums as variables than market forecasting. Because insurance companies’ revenue is stable and held long term, as opposed to brokerage accts which suffer from drawdowns and inconsistent contributions, ins cos don’t need impressive returns to maintain solvency.

[@jasonvansteenwyk5984]

@@arthurandrews113 Look up "sequence of return risk."

[@tonystorcke]

The arguments against Universal life don't hold water. As long as you know what you're getting, enjoy your universal life.

[@elninosabe]

Thank you for this video !

[@GarrettGundersonTV]

You are welcome.

[@429mas]

Insurance company's don't have the ability to change the COI as their based on CSO tables

[@moneymaverickstv]

So regular UL is better and safer?

[@astroman30]

No...all trash value insurance is garbage. Buy term.

[@moneymaverickstv]

@@astroman30 why?

[@astroman30]

@@moneymaverickstv Cash value insurance costs waaayyyy more than term. In a CV policy (such as whole life) the cash value is kept by the insurance company. Scam.

[@theelephantroomltdnetwork]

If iul are so bad why haven't they been banned bared or outlawed

[@marilyn8700]

UL policies are just awful. So glad we are not offering them anymore. I have to explain to customers everyday why their policy is not going to reach maturity unless they increase premiums or lower face value after they have been paying into this thing for 20 yrs. Highly faulty poorly designed product.

[@paulmargani7103]

UL is not a scam so, you are lying in misleading the public #garrettgunderson. If you really knew about how it worked or about finances would not be saying that about UL insurance. Reason i will not listen to your advice on a UL since, a well structured one is a great wealth-generating builder to a tax free wealth product. I am in the industry and listen to proper mentors on it.

[@limitlesscoker6669]

You should actually tell the truth. The way you’re describing this is a badly written policy. You have to go to someone who really knows how to write an IUL Properly. I couldn’t imagine you guys don’t know the right way to write one it’s just you’re wanting to sell some of your stuff. People be where do your research these guys are not telling you the truth.

[@GarrettGundersonTV]

Sell what stuff exactly? Wouldn't you agree this is longing out what many of the pitfalls and problems could be?

[@chuckpugsley759]

30 minutes of bias? ... duh

[@juanvelazquez5569]

If it's an indexed/participating loan then the NAR does not increase, it's like the loan never happened. Standard loan will decrease the DB by the loan amount so the NAR would be the same.

[@spideyguy3454]

The classism displayed here is kind of crazy

[@GarrettGundersonTV]

Tell me more?

[@laughatmewithmebymeornotla9328]

the IUL and the Maximum funded IUL insurance contract are the same or do they work differently??? Can you have an IUL tax-free...??? all the way around...???

[@smart_money_makes_money]

IUL does accumulate and is distributed tax free.

[@oliviasummers9512]

Wow good one thank u

[@alexmike3145]

Universal OR Whole Life can not, has not and will not outperform Mutual Funds. People who sell this two products do it because of Bigger Commissions, PERIOD!!!

[@ricardcluter4765]

How many years did it take the S&P to recover to the highs of 1999, during the tech crash? (7 years) How many years to recover to the 2007 highs, during the 2008 crash? (5 years) What if your clients need income during the market lows? How much of the principal, will your clients take as income (at market lows); thus, reducing their future investment income? Will your clients bail on the financial plan, after LITERALLY YEARS of being down? Mutual funds aren't the "be all / end all". Diversify your strategies. Make them work together as a unit. And above all, develop a plan that will allow your clients to remain committed to it, despite market turbulence.

[@financialownership]

A properly structured IUL has a long term cost about the same as mutual funds and there are plenty of examples that it can. Probably not whole life nowadays thou because interest rates are low

[@alexmike3145]

@@financialownership It doesn’t matter how your structure it, the Cost of the Insurance goes up EVERY YEAR. Just look at your own policy cost of insurance page, go to age 60-65 and you will see that the cost is the same or more than the monthly premium, which means that $0 goes to the Savings account. And when the cost goes higher than the monthly premium, the insurance company will take the negativity from the savings to cover the cost, until the savings goes to $0. That’s why this policies SUCK.

[@financialownership]

@@alexmike3145 the reason your wrong is because you can change your policy to level and as your funding it your net amount at risk goes down. Do some more research on it and you will realize there is more to it. Not leveling your IUL past age 60 makes no sense

[@jeffreykamke]

You're missing the point 6of you think that's the argument being made. A properly structured whole life policy is not just for a growing cash value but it does so many other things with the living benefits and the policy loan feature.

[@MartinTWaters]

Thank you Garrett and Todd, I could listen to another 8 hours on this topic! Being a life insurance agent myself and have sold some IUL's including my own. I'm finding these policies are unbelievably complicated as you both agreed and the contract expenses are incredibly high with some being 3 to 4 times higher than the policyholders indexing credits. I'm scrambling to explain how this is a good deal for them and when I call the insurance company to inquire about why, the answers are quite comical but not in a good way. Any other resources you could provide would be greatly appreciated as my skepticism with these policies is growing stronger everyday. Keep up the great work!

[@om3179]

Martin, as a new insurance agent I have decided to only sell TERM insurance to people. It's a product that i believe in especially that many carriers now offer living benefits with term, so i think its a no brainer to me.I like to sleep good at night. How is your career going so far ? Any tips for new agents like myself?

[@scootchieandboo7475]

So more confused than ever

[@Unplugged704]

Just buy term and invest the rest in ETF or mutual funds!

[@k-jamzzz2423]

So what kind of policy should we get?

[@michaelleesrvideos1628]

Please check out Curtis Ray MPI, he has the best plan for retirement income!

[@adrianlewis1775]

Term

[@astroman30]

Term and invest the difference

[@PK-ev8dp]

I like how everyone is forgetting, there is risk in investments too. Everyone look at your 401k losses right now. It will take good 5 years to go back to where you were, forget gaining anything. Diversification is the game. Have 401k, IUL, stocks, etc...

[@Unplugged704]

What I don't understand with UL and WL, is all that cash value built up and the beneficiary does NOT get it when the policy pays out, only the original death benefit. Example...Buy $500K WL for years with $200K cash value. Insure dies, but the beneficiary receives onky the $500K..not the $200K. Am I wrong?

[@alexpinto4103]

Did you ever get an answer to this?

[@astroman30]

In some ULs there is an "Option B" where the beneficiary receives both the CV and DB. Yet, it would require a raised premium or rider.

[@dq7143]

@@astroman30 correct!

[@pavolpatriot]

Yes, this is correct. That's why it's often referred to as the "surrender value". If you surrender the policy that's what you get and the benefit diminishes.

[@bryceplumb9169]

The cash value is a living benefit, the death benefit is a death benefit. Also, the death benefit is an umbrella that allows the cash value to grow tax free. The umbrella will always be bigger than the cash value.

[@Ryanw1213]

A lot of good points/questions. However, there are several things you guys say that is not necessarily true as well. Can't really label the video "Everything you need to know" if you if you personally don't know everything about it. Also, it really comes down to the industry. It's not the product/company, it's the agent that sold it. There was a time where whole life left a bad taste in everyone's mouth too. A lot of people have been "screwed over" by whole life agents as well.

[@danielfehr-krahn5774]

One of the clearest discussions I have heard looking at product from GG. I am always Looking to price risk. What is the premium(extra) I must pay to remove risk. Many times a WL beats UL head to head so the premium is negative. Term wins in the first third. UL wins in the middle third and whole life wins in the last third plus a day.

[@bobby_ewan]

Full of misinformation

[@lesinaondemand528]

Thank you!!! This is why I dont agree with it also. I was really beginning to think may be I might be crazy. so i search for iul and loved this

[@krisvaldez3923]

Love your videos! I'm curious what made you get a IUL?

[@Unplugged704]

Talk to another agent and he’ll say IUL too is a scam! Haha

[@acacia1967-g6u]

you guys don't know what you are talking about. Such misinformed folks like blinds leading the blinds.

[@WealthWisdomFinancial]

I’m really worried of the sequence of returns risk and the increasing cost.

[@mardelascott7936]

So good.

[@kennethsarita]

Hi, I have very superficial understanding of what you guys are talking about but I hope someone can help answer my question please. Currently, my advisor offered me Canada Life's Universal Life insurance. It's 20 years to pay for almost $100/month and coverage is 100K. My understanding is that the moment I sign up, and for example, I die the next day (knock on wood), my beneficiary will get the 100k coverage. Is that correct? Based on my understanding on your video, it seems that's not the case????

[@LIFE180]

If you have a $100k death benefit then you are correct, if (sadly) you died tomorrow, your beneficiaries would get the $100k. This is more of a conversation about cash accumulation inside the policy and if you are indeed using it for that purpose, IUL's sales practices are deceptive.

[@FastLifeInc]

What about whole life? How would a whole life have to be setup so it pays out both the death benefit and cash value to beneficiary? Is that even possible?

[@LIFE180]

@@FastLifeInc it’s absolutely possible. If you structure the policy properly, the death benefit will increase as the cash value increases.

[@johntonguecruz2404]

@@LIFE180 are we talking about sum insured and sum insured plus accumulated money?

[@amandathompson9347]

This guy does not understand the need for insurance. What is his option buy term and invest the difference? What happens to your term policy if you live into your 60s? Easy it becomes 7 times more expensive and you lapse the policy. Then you have no life insurance protection. If you get a smaller IUL policy say 250 k it is very easy to pay until you pass away. This guy is pretending to have knowledge he does not have.

[@livingaboard]

You should be able to have enough wealth where you don't need insturance in your 60's and on. Ridiculous

[@nycholasburns5631]

IUL, scary product!