Why Whole Life Insurance is Better than IUL

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Күн бұрын

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@WWIIPacificHistory 11 ай бұрын

I 100% agree that IUL’s that are either not designed well or serviced well can be an absolute train wreck which is why they have developed such a bad reputation. However, IUL’s that are both designed and managed well can be absolutely phenomenal and are IMO significantly better than whole life, BUT they do need to be actively managed FAR more than whole life. So, if you’re not willing to put the time and effort in to learning about and self managing your IUL policy, then whole life is probably the safer option. BTW, I’m NOT an agent of any kind. I’m actually a Medical Doctor who’s now owned IUL’s for just my family for going on 10 years now and I’m in the process of buying more IUL’s for my immediate family. I have a phenomenal agent, James Barber, whom I work with hand and hand in designing my families policies and I for the most part self manage those policies as I’m pretty sure I know more about how to correctly design and manage IUL’s than 90% of the agents out there.

@TheOpinionSports Жыл бұрын

The people who say they sold IUL but then learned and don’t sell IUL anymore and only do whole life. They never understood the IUL in the first place. Someone who understands both knows there is a space for both products depending on what the consumer goals are.

@Seccheus 5 ай бұрын

Right.

@PraisingGOD1129 4 ай бұрын

If you don’t use tools correctly then they might seem less useful. If you don’t max fund an IUL and service it yearly it will not perform but if you’re intentional it is robust. But youre absolutely right. People should not be selling IULs if you do not plan on staying in the industry and working with your clients long term. They need to be managed.

@RachelNewton-g8f 2 ай бұрын

Love your videos, Caleb! Please host that debate!

@Keto_Mike 3 ай бұрын

What about Doug Andrews who says it has to be properly structured IUL?

@LIFE180 Жыл бұрын

At 14:00 .... sadly companies have already gotten around AG49B. Its craziness.

@AndAsset Жыл бұрын

True we recorded this back in February, so now knowing AG49 “amendment” which actually called like AG 49-A1 is out blessings to the industry.

@thebryanpereira 9 ай бұрын

I was waiting for you to comment chris lol

@DallinBunnell Жыл бұрын

Interesting to see your more neutral and positive stance with IUL. I agree, both products can be great depending on what you want them to do. I would generally agree that IUL is a great income tool (geven that it's set up and funded the right way). It is an options strategy, but it works at reducing market risk but still participating in the growth of the US economy. Say, you've already committed so much to market investments, this takes some risk off the table while still providing equal or more income in the end. I know you mentioned arbitrage in a semi-negative light, but it is a feature of the product, and since WL often doesn't have the same arbitrage , Whole Life doesn't provide as good of an income solution IMO. Whole Life has fewer variables and makes sense in thy way you described it. I also see it as a bond alternative with more options and flexibility. I see people supporting infinite banking with IUL, and while you can leverage money in IUL, it doesn't work the same way. If you've over-leveraged in IUL, it could lapse or your premiums could increase. In Whole Life, as long as premiums are paid, it's not going to lapse (generally speaking, making sure you manage any loans still). IMO, WL is better suited as a savings/banking alternative like Infinite Banking. But both can be excellent based on what you're wanting the product to accomplish. If you have the debate, bring in Matthew Decker!

@ashleytaylor994 Жыл бұрын

Whole life for infinite banking

@BetterWealth Жыл бұрын

Agreed!

@vangustia 10 ай бұрын

Dom you can't reduce the caps when designing iul. You can choose a strategies to have lower caps.

@chuckcarr9323 4 ай бұрын

I have an Indexed Universal Life (IUL) policy and am considering a 1035 exchange into a whole-life policy. What should I be aware of before making this switch?

@Paka6267 Жыл бұрын

Don mentioned that both IUL and Whole Life have their risk. What are the risk with Whole Life ?

@mrstinky2421 Жыл бұрын

Underwater in early years. Less upside than other "investments". Expensive cost of insurance.

@LIFE180 Жыл бұрын

IUL is certainly much easier to sell to an uneducated consumer. Yes I am watching 🤣 I would also add, the IUL has upside on paper...however, once again, that's why I created the IUL Challenge....IUL'S provided no upside in the greatest bull run ever...so I don't care what someone wants to sell me...I can more about ACTUAL results. That's why I choose whole life. I also agree with you that too many agents hype whole life too much (which may sound weird coming from me). But it needs to be a key piece in your financial puzzle.

@TheOpinionSports Жыл бұрын

@@LIFE180 I’m not an uneducated consumer and I have IUL.

@AndAsset Жыл бұрын

@@mrstinky2421 this is solid 💪🏽

@AndAsset Жыл бұрын

@@LIFE180 this is why I appreciate you Chris!

@XRPeakyBlindAR 9 ай бұрын

Ok. One thing I really think might be doing kore damage than helping is saying “one person…retirement income…calculator” not gonna happen. Without naming them or offering a seat at the table to discuss it. Makes things very difficult to wade through. I am listening to Donnell stidham. They have a retirement income strategy. Calculator. Etc. Is this the one person? Because all their numbers make sense. But when someone kind of references sideways other people and doesn’t directly highlight what is wrong with their strategy it puts a black cloud on everyone. Perhaps you and Donnell should have a chat Woukd be productive. I understand that information notes are created amongst those who are knowledgeable in their own field. But someone such as myself who listens to all kinds of peoples shared informstion. Such as you, donnel, Naugle , and many others. It opens so many uncertainties and adds less conviction to any decision Vs what should be created… understanding. How does one wade through everyone’s opinions and get to the fact has proven challenging. So far stidham seems to be the method im gravitating towards. But sure would like to hear a debate. Or rather a conversation. Thabks for all the information though for sure. This is a rabbit hole.

@WWIIPacificHistory 11 ай бұрын

You guys should collaborate with James Barber at Oregon Cash Flow Pro who’s my agent and IMO is super honest and knowledgeable. He sells and designs both WL and IUL. He’d be great to have in a debate as well.

@cwall216 Жыл бұрын

This was a good discussion. Thanks for sharing

@BetterWealth Жыл бұрын

Absolutely man!

@toddstephens3912 4 ай бұрын

If you have an IUL is it possible to convert it to WL or do you just have to kill the policy eat the surrender charge and take what you can from what remains in cash value?

@BetterWealth 4 ай бұрын

You can convert a universal life insurance policy to a whole life insurance policy through a 1035 exchange. There are some things to understand about this though that we can make a video about explaining!

@trevormaxwell3703 7 ай бұрын

Neither is just plain “better”…each one has its own advantages. The real problem is that agents who only sell one or the other either don’t know how to properly utilize the other, or don’t care.

@thomasgibson2392 Жыл бұрын

My IUL has outperformed my CVWL 10 fold. No two IUL’s and no two carriers/companies are created equal. A policy that cots $0 that’s linked to a well performing index will undoubtably do better than a dividend paying whole life. End of story. You just haven’t found the right product. A “universal life” policy usually results in a garbage policy that eats itself in the end. Not to be confused with an IUL. My two cents.

@michaelmiller6848 9 ай бұрын

How can there he so much confusion about the creditably of a investment tool ?

@jdubb1987 Жыл бұрын

What “service” from an agent standpoint is required to maintain a client’s policy? …. Maybe we should be re allocating assets if the index is not preforming? Also we can do a Fixed allocation in an IUL. Isn’t that just as good as the WL policy?

@samsciascia4004 Жыл бұрын

When the client needs to go from increasing to level, and you're not there, good luck with them remembering. Just 1 example.

@jdubb1987 Жыл бұрын

@@samsciascia4004 if “your not their” I’m sure it wouldn’t matter at that point… but some carriers allow agents to design the policy to go level after you start pulling income at a certain age.

@JoeC5050 Жыл бұрын

what is the cost/fees in a max funded IUL? 10-20% range?

@TheOpinionSports Жыл бұрын

It even close.

@jdubb1987 Жыл бұрын

What do you think about the FIA for income in retirement? Does this funny business go on in annuity world too?

@LIFE180 Жыл бұрын

Why use a UL? GUL or even a single pay MEC IUL can work

@AndAsset Жыл бұрын

Would premiums be cheaper on a UL vs GUL? GUL you also have absolutely zero CV. This is more of a conversation to expand good dialogue more than a statement. I actually agree GUL makes a ton of sense to me.

@fitology112 Жыл бұрын

@@AndAsset the statement of Cv only matters based on client, but the internet space is cv only. some folks dont care about that, but majority are broke so they do.

@AndAsset Жыл бұрын

@@fitology112 true!!!

@jasonpham80 Жыл бұрын

Which one have more fee? Or unknown fee ? Does fee change beside insurance fee change for iul?

@DrizzyD670 10 ай бұрын

Not sure why you called this a debate. More like "Former IUL sales dudes warn of dangers of IUL." Y'all eluded to there being advocates, and that they've improved since inception...but no solid points were made in favor of IUL. While plenty of time was spent praising whole life. Good video fellas. Very informative; but please don't use the word "debate" without equal representation.

@BetterWealth 9 ай бұрын

Thanks for your feedback! I'll have my team make the proper changes!

@robertschriber7343 11 ай бұрын

What about premium finance iul for infinite banking?

@christopherlewinski1301 Жыл бұрын

Sounds like IUL needs to be sorted through, from the right policy. Nothing to jump into with. Whole Life looks to be the default.

@jordangrow362 Жыл бұрын

Are you guys familiar with the flex method? I’m a fellow financial professional and I’ve really enjoyed your work, thank you!

@samsciascia4004 Жыл бұрын

What's the flex method?

@Mateo-dv8kb 6 ай бұрын

hi, we have a guy who call iul a laser fund...

@vangustia 10 ай бұрын

I have clients in their iul for 15 years.

@timothythompson4036 10 ай бұрын

Do you have any clients in their IULs longer than 20 years? I don't know any!!

@thebryanpereira 9 ай бұрын

Have their policies performed like the illustrations you showed them and would you be willing to prove that?

@Seccheus 4 ай бұрын

Take 30 to 35 years of funding before you should start taking income. IULs have only beem out 27 years.

@vangustia 10 ай бұрын

Caleb you have only been in the business for 5 yrs?

@TheTruthseeker707 Жыл бұрын

So is Doug Andrew lying or not telling the whole story? Honest answers please.

@BetterWealth Жыл бұрын

I think it’s fair to say Doug Andrew’s and I see differently when it comes to life Insurnace. I would love to host a debate with him and maybe some one like Chris Kirkpatrick to flesh out the differences.

@TheTruthseeker707 Жыл бұрын

@@BetterWealth I say you try and make that happen. It would be a debate that would be very valuable to this issue and industry as a whole. God bless and thanks for answering.

@theforce5191 Жыл бұрын

@Valentin if we're being honest here, I wouldn't trust Doug ou his sons. They've had multiple lawsuits against them. I can't remember which of the two got his license revoked.

@denko44 17 күн бұрын

Doug is a good marketer. I haven't seen him say anything remotely negative about IUL. To me that's a red flag to me. He's selling a dream

@michaelmiller6848 9 ай бұрын

Seems to me this old argument cld be solved easily Lets talk to those who its worked for

@vangustia 10 ай бұрын

You need to be knowledgeable about both and not have a bias on one vs the other.

@sunsetmcg Жыл бұрын

Far too much "off the subject" talk. EXPLAIN why WL or IUL is better and when. COMPARE the two. IMO, there wasn't a single minute of meaningful talk here. I know you can do better!

@TheOpinionSports Жыл бұрын

Also while I do appreciate you saying people should not get insurance if they don’t understand it. Why don’t you make a video advocating people getting IRA’s or 401k do the same thing. You wouldn’t believe how many people don’t understand the 401k, they just put their money in cause they were given it by their company. Now when will that conversation be had?? Let’s keep the same energy all the way around.

@BetterWealth Жыл бұрын

I really appreciate the comment! I will make a video addressing this for sure 🙏

@tommymodec Жыл бұрын

I 100% agree - consumers should understand wherever they put their money. In most cases, I am not a huge fan of a 401(k) plan beyond the employer match. That said, I cannot recall reviewing a 401(k) Summary Plan Description for a client that was even close to as complex as an IUL. Let's "keep this same energy" for all the folks selling IULs on TikTok who bash 401(k)s and IRAs and don't understand them themselves.

@TheOpinionSports Жыл бұрын

I think there are plenty of folks who have already called out the Tik Tok IUL sellers on their take of the 401k, Dave McKnight being one. However nobody out there calls out folks for just jumping into a 401k when they don’t even understand the rules regardless of it being less complex. Heck most can’t tell you the index their 401k money is going to.