IUL Pros and Cons
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- Опубликовано: 20 ноя 2020
- Index Universal Life or IUL is not for everyone. First of all, it takes 12-15 years for one to build up a reasonable cash value, so it’s not recommended for people 65 years of age or older and is best for say 35-55. If you want detailed information on IULs, please watch my video below on Index Universal Life Insurance. If you are considering an IUL, you should understand what the pros and cons are.
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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 really love the pace at which you teach. This is awesome! I hope you will be able to do a video on the impact of CVAT and when it should be used when developing your policy. Thanks
You are phenomenal with your knowledge base and delivery of this information . I would be honored to attend a meet and greet with you, and take a class taught by you . God bless you. Seriously.
Awww.... thank you so much! You made my day!
@@WealthProtectionLadyI have an IUL I would love to have you look at it
I'm an broker/agent myself and this helped me out alot. I have plenty of insurance options for folks but it's hard knowing what is the best option sometimes. For clients who ask about these, I'll have a better way of explaining the pros and cons. Thanks!
If they are conservative, go with while life. Never go wrong with guaranteed interest.
She did a great job at explaining IUL's. simple and efficient
Thank you for laying out the facts without getting all hyped up. I can trust this information
Excellent run down. Really appreciate your insights!
Thank you so much for explaining it in a lay man manner !
Great video and explanation. Thank you.
This is a great explanation of an IUL!
Great video on IUL's! I will be watching more of your videos in the future!
Thank you!
Thanks for the explanation! You a very good at your job!
I appreciate that!
Thank you for the info neighbor
Thank you 4 this valuable information, good stuff !!!
Thank you, John!
Thank you for sharing your knowledge. I’m just getting started with a consulting company to sell these
Good luck, Olga!
great video, thanks so much for the info
Thank you, Eric!
This is very helpful!
Thank you for this information.
You are welcome, Nickole!
Pretty good information but this needs a few corrections. 1st, you said that if a person takes out too much money they will be taxed. That is true but most companies have rider called "The Over loan Protection rider" which tells the company not to exceed a certain amount so it prevents that from happening. The next correction is that you said if interest rates drop it could hurt the plan. The performance of the plan is NOT based on interest rates but the index the plan follows. If it is set to follow the S&P 500 & interest drop it could be good because lower interest rates are good for the stock market because investors think "why should I take 3% in the bond market when the market is running & I might be able to make 10% in stocks." 3rd. It doesn't necessarily take 12 -15 years to see a return. I've seen plans provide a significant amount in 8-9 years. Also, depending on the age of the client a higher death benefit may help the client because those living benefits are based are based on the death benefit. The higher the death benefit the higher the living benefits.
Awesome video!
Your honesty is AMAZING - thank you for teaching me about this!
You are so welcome!
Very helpful, thank you.
You are welcome, Veena!
Great video. It’s all about how you structure the policy.
Thank you so much for sharing your wisdom this was prefect to understand pros and cons. How would go about finding the right agent or Insurance company to commit to. Thanks again
If you would like me to prepare a preliminary IUL for you, please complete this application and I'll get back to you within 2 business days. This way you can decide whether or not this is something you want to move forward with. APPLY TO GET A PRELIMINARY IUL ILLUSTRATION: form.typeform.com/to/SNfW1IBA
Good video, gives detail on the IUL product. How the IUL is constructed by your Life insurance agent is up to the agent. How do you know if the agent is working in your best interest vs. padding his generous commission ? That is a bridge too far for me.
I'll stick with my portfolio of dividend paying stocks many of which increase their dividend every year. My heirs will get a stepped up cost basis on the stock positions. And at my age, early 60s the life insurance cost will go up every year. And that will eat into the cash value. I'm too old for an IUL.
New subscriber !
You are a great insurance communicator! Thank you!
Thank you, Harold! You made my day!
@@WealthProtectionLady as relatively new advisor I’ve always worked to hone my presentations. Ive seen it presented many ways. Until I discovered you I thought I was the best. 😂I like your style. Thank you for the amazing library you’ve created!
Interesting! This is an important topic, and not up my alley. So thanks for making it.
Great job explaining IUL's - many people don't understand them. Need to check other videos out on your channel.
Hello Laura🥰😊
I'm 33 and have some money I want to grow for my children and I think this information is AMAZING and so helpful!! Thank you!!
You are so welcome!
My concern with this type indexed product is the volatility of the market and performance risk. If I understood you correctly I should not be penalized if there is a downturn in the market. I was not aware about this type of product. Thanks for the breakdown.
Exactly! You get the upside of the market but if the market goes down, you don't lose anything.
Very insight! Had no idea about the details of this. Thank you for sharing!
Great video
Thank you. I'm glad you liked it!
Thank You
Thank you
Very thorough, measured, straightforward and objective. Nicely done to lay it all out for the consumer. 👍
Thank you, Paul!
I don’t know enough about these topics! Your channel will be very helpful. Thank you!
I appreciate how you expected the difference between pro and con.
This is insanely helpful! Thanks so much for sharing these pros and cons! :)
thank you so much
You're welcome!
Very helpful....Very nicely explained
Thank you for weeding out all the noise. All of this is so confusing and your video gives the tools to go into an establishment informed and prepared
Glad it was helpful!
Thank you for explaining what an IUL is! I didn't understand it prior to watching this
I'm very new to all of this, so I didn't understand everything but I understood enough to be even more fond of the idea of having an IUL. I appreciate you giving the age range for who would benefit most from an IUL on average.
love the honesty i am 41 i am trying to retire and live on dividends by 60, so I wont accumulate wealth quick enough
If you are interested in an IUL illustration, Minh, here is a link to the application to talk with me. .form.typeform.com/to/SNfW1IBA. Also, watch this video to learn more about the IUL I offer. ruclips.net/video/zB5f0XsClR4/видео.html&ab_channel=WealthProtectionLady
Buy dividend paying stock, reinvest dividends. Not through an IUL product.
I just found your channel and I think that you are Fantastic!!! Do you have a Master Class? I would Love to take it 🙏🙂
My master class is old. I should do a new one.
Very informative. I enjoy learning from you and the way you teach.
Great information and very important for people to understand different life insurance. Keep up the good work.
Hello Mellonie 😊🥰
Interesting I've never heard about this concept before. I've only been doing index funds.
You are better off doing index funds.
Thank you so much for this video! you explain it absolutely amazing!
Wow! That’s amazing, thank you so much!
how many years have you been doing IULs for?
Str8 to the point. I feel confident about the IUL policy I own now. Thanks!!!
I am so happy this helped you feel better about your IUL. Also check out my video on a properly structured IUL to help you feel even better: ruclips.net/video/Z_-WwU8uJ0Q/видео.html&ab_channel=WealthProtectionLady
Please give specifics on what the agent needs to put in a policy to make it better for me the consumer
The agent needs to structure the policy for the LOWEST death benefit the IRS will allow. That means the agent will get the LOWEST commission as well. That will maximize YOUR cash accumulation.
You explain it so well and I’m very simple terms. Thank you
Great job! Keep it up, Sue!
He visto sus tutoriales y son muy educativos, aunque me gustaria saber si las personas que tiene un income bajo no tienen éstas mismas posibilidades de IUL Gracias
Los bajos ingresos están bien.
Hi. Thanks you so much. This was very helpful. Can you please elaborate more on "the min death beneifit that IRS allows" mentioned in your video?
That is based off of your age, gender, health, premium, etc.... If you would like me ro run an illustration for you so you know what that exact number is, complete this application: form.typeform.com/to/SNfW1IBA
How can I set up a account through Kai-Zen and how can you explain a example
I don’t sell much Kai-Zen for two reasons: the lowest annual premium is around $21,000 and you do not have access to your money for 15 years.
If you would like to talk more about Kai-Zen and/or if you are interested in a “regular” IUL, complete the questionnaire through the following link, and we’ll find a time on my calendar. I would recommend you watch my video IUL on Steroids. application.wealthprotectionlady.com/
Very nice video. Do you have any video or more information about fees? Thanks
Hi, Kunal! I don't have a video on fees, but IULs are front-loaded with fees for the first 10 years. With the IUL I sell, watch IUL on Steroids, they reimburse you for your fees starting in year 11.
@@WealthProtectionLady Thank you for reply.
Would it be beneficial to put in a large lump sum upfront into an IUL?
You can do that but I don't necessarily recommend it. If you put down a large lump sum, you would have to divide that up into between 3-11 years. Your first year's premium would be paid and the rest of that money would sit in a Premium Deposit Account earning 5% interest. Every year's premium would be paid. The problem is you don't have access to the funds in the premium deposit account and I bet you could find a better place to put that money that would earn more than 5% interest -- probably realestate.
Sue thank you for sharing. However, I see that IUL is not available in NYC. Is this correct? How do I go about signing up for those of us in the NY area?
Unfortunately, because insurance is state regulated, the IUL I sell is not available in New York. I wouldn't even know who to refer you to.
Amazing. Really educative video. Thanks for this
Is there a surrender value on the policy?
There is a surrender period for all IULs of at least 10 years
What would be a good structure to look for from agents if he giving me a good deal or just getting Paid himself?
I just put out a new video on Friday called Evaluating IUL Illustrations. Here is a link: ruclips.net/video/QVAD79cdP5I/видео.html&ab_channel=WealthProtectionLady
I wanna learn more
Thankyou for the easy explanation though I still have no clue on how to go about it…I have a few basic questions though -
1) I have a 401k with my employer can choose not to continue with that and go for an IUL
2) Can have both does that hurt? I mean know I will have less in hand as I will need to invest in 2 places
3)If I chose to go with IUL and say transfer my existing 401k fund to IUL does that have any added benefit like less fees etc…does that give me any kind of boost/headstart in the 10-15yrs of period you mentioned it takes for the IUL to have any substantial funds?
Hi, Rahul! You can have both a 401k and IUL. You cannot fund an IUL with a 401k. An IUL can only be funded with money you've already paid taxes on. For the most part, fees on a 401k are very high vs. that of an IUL but not all IULs are created equal. Some have very high fees. Watch my video IUL on Steroids.
Thankyou for your reply, If I were wish to open an IUL how to go about it and do you provide/facilitate the process if yes let me know the next steps. Full disclosure - I do plan to open one for sure but starting March-April next year
Good day ma’am and thank you for the wonderful information.
I’m 33 years. Owner operator/. Truck driver
What the best policy to get to retire in 5-10 years
And take the funds and Start investing it into real estate in 3-5 years from now ??
Any suggestions please and thank you.
Single no kids no bills. Live in the truck. Goal to retire my parents in 10 years or sooner..
A lot of real estate investors love the positive arbitrage of taking Index/Participating loans in an IUL where you earn interest on the money you loaned yourself. You should watch my IUL on Steroids and Life Insurance Loans videos. In order to retire in 5 years, you'd have to put a lot of money into an IUL. IUls also need to be funded for at least 7 years.
I’m 30what computer would you recommend to buy this. Policy and which agent or broker will be the ideal one?
You can complete this questionnaire so we can find a time to talk. application.wealthprotectionlady.com/
Did you say on the set up of a IUL should be in a way that its for the lowest minimum death benefit available? purpose is to save on any fees or taxes? sorry trying to understand that part?
Yes. The way I structure IULs is for the maximum cash accumulation for you, the lowest commission for me and that is based on the lowest death benefit the IRS will allow. The reason is that you pay fees based on the death benefit, so we want it the lowest it can possibly be. If you need more life insurance, I can always quote you term insurance.
How long does it take to structure good policies? Day , few minutes???
It takes 5 minutes max.
should I borrow from my cash value or just make a partial withdrawal ?
Always borrow so you get your money tax-free. If you withdraw, you'll have to pay taxes on the gains.
Thanks sue
You are welcome, Susan!
@@WealthProtectionLady please i need help how can i reach you....
Susan, please email me at sue@wealthprotectionlady.com. I would be happy to help you!
@@WealthProtectionLady yes i emailed you
Atm I've been looking at all different types of storage for the money I have in my savings account so it doesn't just sit there.
I've looked at offshore banks accounts, IRA, ULA, ect places where I can earn high interest and lower tax possible tax free can you help.
I already invest 90% of my money just the 10% is just sitting there earn nothing with its low low interest.
Watch these videos to get a good understanding of how IULs work:
IUL for Dummies: ruclips.net/video/SY2WlAiwPK8/видео.html&ab_channel=WealthProtectionLady
Properly Structured IUL: ruclips.net/video/Z_-WwU8uJ0Q/видео.html&ab_channel=WealthProtectionLady
Life Insurance Loans: ruclips.net/video/eLiFSM1yaN8/видео.html&ab_channel=WealthProtectionLady
IUL on Steroids: ruclips.net/video/oZC1gXVS3TM/видео.html&ab_channel=WealthProtectionLady
Has anyone here bought IUL life insurance? If yes, can you please share:
1. Which Carrier?
2. How many years in the policy currently?
3. How is the Cash Growth compared to the illustration at year 0?
4. Is it recommended for Tax-Free Cash Value growth - Yes / No?
Thanks.
I heard Allianz has the best language
I can help you with IUL from Transamerica or Pacific life. Am a licensed agent
Thanks for the video - How to reduce the fees?
You always want the lowest death benefit the IRS will allow. That way your maximizing cash accumulation and the agent receives the lowest commission thus reducing fees.
Just wondering, If I finally read the fine print and find out fees are high but still want my policy what can I do? Can I also restructure?
If you realize your IUL was not structured properly for the lowest death benefit the IRS will allow, and you're paying fees on a death benefit that is too high, you can call the carrier and request to have your initial death benefit lowered. Chances are they will only allow you to lower it 25% per year.
Great educational video I totally agree with you that atmost care needs to be taken while designing the policy. I am an IUL producer too can you pls clarify below ? Money taken out from IUL during retirement is taxable unless in following scenarios 1) Withdrawals done until your initial deposit (FIFO) 2) Taking the money out as policy loans. Any withdrawals done on the growth is taxable.
Whenever you access funds from your IUL, you will always take it in the form of a loan. That way, it will always be tax free.
Do you design the IUL or you work with specific companies and agents ??
The IUL I sell and design is Securian's BGAII with the 3-year S&P PRISM index because it is the #1 Best Performing Index in the industry with an average annual return since its inception in 2018 of 17.04%. It has two participation rates (115% + 320%) and both are guaranteed at 100%.
My son is graduating from high school, can he get an iul or would the monthly cost be too much for a minimum wage employee?
Hi, Daniel! There are no age restrictions for an IUL. IULs are a better choice than a 529 plan where you can lose money.
When you say “take retirement income” do you mean to say, take a loan in that amount?
Yes. Whenever you access your money, you will always take it in the form of a loan. That way, it will always be tax free.
What is a surrender charge? and how much does the insurance charge you for it?
When you purchase an IUL, you are signing a contract saying you understand you are in this for 10 years and if you want to get out of your contract before the 10 years is up, you will pay a surrender charge. You wouldn't want to get out of your policy before 10 years unless you got stuck with a policy that was structured for the agent to get a big commission. The surrender charge depends on your premium amount and your age, health, gender.
I've had a IUL for 5 years When should I switch from Option B to Option A?
Hi, Will! It really depends on the performance of your policy, your overall goals and if you are at a point where you are ready to take income. The catch is that you can go from option B to option A, but not from option A to option B (most carriers). So, switching the death benefit to option A is actually a point of no return. My advice is to call your life insurance agent and schedule an annual review, since I am not familiar with your policy. Thank you for your comment!
Typically you switch when you start taking income in retirement age. Some policies only let you switch once during the life of the policy so just make sure you want to do it at the time you switch.
I have questions about currency that I may be getting can I put that in my iul for retirement
If you are referring to living in a foreign country, it's difficult with an IUL.
What are your thoughts on buy term and invest the difference?
Watch my video "IUL on Steroids." You always want the lowest death benefit the IRS will allow because an IUL is not about the death benefit. It's about maximizing your cash accumulation. If we didn't have to have the death benefit, we wouldn't, but it's the only way to get benefits that seem too good to be true. The participation rate has increased with the product I offer, so now, you would be credited 265% of any gain in an index that has an average annual return of 17.95%.
what product do you use that's getting 18% on IUL's?@@WealthProtectionLady
Hi, I think your information is very helpful. I would like to know more about Kaizen. Are you able to help? how much do I have to contribute per year for the first five years, and do I have to continue contribute after the five? Thanks
Hi, Vinh! The least amount you can contribute is $21,350 annually. After 5 years, you are done with contributions. You can start another Kai-Zen plan after that if you like. If you are interested in learning more, here is a link to my application.
form.typeform.com/to/SNfW1IBA
@@WealthProtectionLady Hi, I recently found your channel. Where can I learn more about the 5 year Kaizen plan mentioned here? Thank you!
Been trying to fill out the application is not going through.
Maybe clear your browsing data and/or cookies. Nobody has complained about this before. If it still won't go through, email me with your basic information --state of residency, annual income, health, etc... sue@wealthprotectionlady.com
How do I find the best insurance company for the iul
If you are interested in an IUL, complete this application. I have access to an uncapped IUL with a 2% floor through Minnesota Life. form.typeform.com/to/SNfW1IBA
Would u recommend this with someone making less then 40k a yr ?
Yes! Absolutely!
Thank you so much. Very informative and I got absolutely no sense of bias or a sales pitch!
You are so welcome!
I applied for IUL but was not qualified because I didn't pass the medical exam. Is there other ways I can still apply without going through a medical exam?
I am so sorry! I can completely understand your situation and how disappointed you must be. Did you get any message like you could re-apply in 90 days? Unfortunately, life insurance is all about risk, so they avoid taking risks on health issues. You are welcome to schedule a time to talk with me. You could consider an annuity if you are looking for a safe place to grow your money. Here is a link to my calendar:
calendly.com/suecunningham-1/60min
Why not advised for people below 35? You stated it takes about 15 years to make significant returns, isn’t then better to join at early age and earn more returns for longer years?
IULs are great for any age except for those over the age of 65 because life insurance gets more expensive the older you get. Most of my clients are families -- mom, dad and the kids.
How do we know if we will qualify for Insurance or not (medically speaking)?
If you have medical issues, we may not know until you go through underwriting.
Well it sounds like fee's are the con here just how does someone fine a company with resemable fees
The Securian BGA II IUL I sell is the lowest cost in the industry partly because they begin reimbursing you for your expenses in year 11. National Life Group, John Hancock, North American and Allianz are expensive products.
Hello,
Is get 50,000 IUL POLICY PAYING 30 DOLLAS MONTH A GOOD IDEA?
CAN I DEPOSIT 5, 000 INTO THE POLICY THREE MONTH IN? sorry for all cap😊😊
Based on your $30 per month premium, your illustration would give you a Modified Endowment Contract limit. Depending on your age, you may not be able to contribute an extra $5,000.
If you are single 56, no kids, no spouse...should you get this policy?
Absolutely! An IUL is not about the death benefit so we want that to be the lowest it can be.
@@WealthProtectionLady What is an example of the lowest and the benefit for me?
Great information, new to this
How do I reach you
Complete the following questionnaire: application.wealthprotectionlady.com/
I want to open a IUL but I’m unsure if it right for me
Watch these videos to help you make up your mind: IUL for Dummies: ruclips.net/video/SY2WlAiwPK8/видео.html&ab_channel=WealthProtectionLady
Properly Structured IUL: ruclips.net/video/Z_-WwU8uJ0Q/видео.html&ab_channel=WealthProtectionLady
Life Insurance Loans: ruclips.net/video/eLiFSM1yaN8/видео.html&ab_channel=WealthProtectionLady
IUL on Steroids: ruclips.net/video/oZC1gXVS3TM/видео.html&ab_channel=WealthProtectionLady
How do find a good person to structure
If you would like me to structure an IUL for you, you would first need to watch my videos on Properly Structured IUL, Life Insurance Loans and IUL on steroids. Then you can complete this form to talk with me: application.wealthprotectionlady.com/
Can one over 65 open an IUL?
I don't necessarily recommend an IUL for those over 65 but it depends on what you are looking accomplish. If it is saving for retirement and you want to retire in 5 years, you would need to contribute quite a bit to make it worth while.
How can one get in touch with you for a consultation ?
Go to the following link: application.wealthprotectionlady.com/
So, if I have an IUL for $100K, and it's pegged to the S&P500, if the S&P goes up 8% in a year, does that mean that I earn 8% of the $100K?
Yes, but if the S&P went up 15% and there was an 8% cap, you would only earn 8%.
@@WealthProtectionLady
I understand.
I believe with the IUL that I have, it has a 12.5% cap.
I just purchased this IUL.
But I've been an avid stock and index investor for about 4 years.
I couldn't believe that IUL could earn that much.
The S&P averages 6% to 12% year-over-year.
Seems like a way too easy way to make money.
@@samueleuresti3 There are fees with these IULs, many of them hidden. No free lunches.
Your account shouldn’t be pegged to just the S&P pick the Global Index