Thank you very much ! I recently took IUL from Nation Wide . But after hearing Dave Ramsey podcast, i thought i got scammed by agents. This is an eye opener. Very thankful to you for making this video Doug Andrew .
just started chanting "Doug, Doug, Doug, Doug, Doug!" to myself- IUL specialist...Watched many of your videos when I first started and you are the guy who switched my focus from other Insurance products to IULs! Thank you for the knowledge and for your soothing voice
I'm a financial advisor and I'm grateful that someone smart enough can explain this instead of listening to that Dave Ramsey nonsense... I can't say enough how many of my clients are happy and not going through heart attacks to have an IUL with the protection they have against the down market... Thank you Doug
I'm from Singapore, and this is so valuable as the financial hub of South East Asia. We still mainly invest in the US markets, which are still subjected to US taxes. Some specific features differ from product to product, but the underlying principle is the same. Only found out about you recently, looking forward to more of your videos and books!
Great video, easy to understand for any one of “average” intelligence. Besides, not understanding exactly how electricity works-for example-does not mean that in the dark would be wise. As an investor, I know IULs work very well when properly written. Throughout the years, it has performed way better than my mutual fund investments.
I discovered you today and this is the second video I watch of yours, I am now a subscriber and loyal fan! Might I add, there's moments when you talk that remind me of the way Jim Rohn used to talk. :)
A wise man once said,,, invest in things that are easy to understand. Nothing about IUL’s are easy to understand. He’s struggling so hard to make it sound simple. Good luck all.
So what has your research and experience revealed? Was this a success or failure for you? Seems like those who found successes be lying by your take? Listening....
All of the negative replies are investment advisor reps and/or broker dealers/agents that are scared to death of losing clients to high cash value life insurance. He says it in this video, "the worst form of ignorance are those that poopoo on things they don't understand". Stupidity at its finest.
Thank you Doug for this extremely easy-to-digest explanation of the IUL Policy. Very well delivered. I just received my Laser Fund book and can't wait to delve in. Please keep doing what you're doing. You are providing so much value to seasoned and new financial professionals. Much appreciated. -Win F.
Watched the entire video. Exceptionally done. Oft times the Ramsey folks tend to lash out emotionally with extreme rhetoric when categorically dismissing ANY life insurance based strategy. Typically, emotional rants are a result of a lack of understanding, maturity, or the facts simply aren't on their side. In most cases, it is usually a combination of all of the above. Keep the great content coming, Doug! Thank you for this.
I have noticed over the years that "the Ramsey folks [including his following] tend to lash out emotionally with extreme rhetoric" at anything that deviates in any way from his-and only his-system, which is treated as incontrovertible diktats. I think _Total Money Makeover_ and _Financial Peace University_ are really good for what they are, but they are not the end-all be-all that they pretend to be, and the whole environment just gets a insufferable after a while.
I've been listening to the Dave Ramsey Show for over 20 years. I have heard his argument on this subject many times and it's not an emotional rant. He uses facts and logic. He knows more about it than most people who sell this junk. He has nothing to gain by telling people how different types of insurance work and recommending term life.
Started my IUL last year at 29, I don’t regret it. And my agent structured it properly and if I had any questions, he was there to answer everything in great detail
@@Casch44 I did my own research and kept asking questions along the way. My agent is awesome, he breaks down everything for me step by step so I can understand.
Thank you for this video! I am a life insurance advisor and I’ve helped so many retirees get a higher death benefit for the price by setting them up with an IUL instead of final expense. I was so confused when Dave Ramsey came out with that article. It felt like an article written by a troll instead of an intellectual.
I have learned so much from you Mr. Andrews. I truly appreciate your your knowledge and experience in financial industry. I hope to be half of the life producer that you are. Awesome!!!!
Wow!!! This was so dope. Thank you for sharing your knowledge about maximum payout IUL's in such detail Doug. This video was excellent!!! We might need to setup a petition to get you onto an episode of #EarnYourLeisure 🎓💰📈😎
Doug! You are a G for this! love the educational series and I'm a life license myself and you just boosted my conviction to be a part of this movement of IUL!
@@4020E Hi Eric, I see you haven't received a reply. I'm glad to help you set-up an IUL just as Doug is illustrating. If you'll click over to my channel, my contact info is in the image in my cover picture. I look forward to hearing from you!
Thanks for the support! Make sure to check out our playlist "Does IUL Work?" for more information! ruclips.net/p/PLF8af6gsBLfnuEQPmmm-YUM2fsk1wp4Nj&si=11qaiik_VICXCQm2
I'm 30, Started my iul last year. My employer 401k already tanking but it's nice to see the iul growing steadily. I don't make much as construction is kinda slow but I'm glad to see the iul working regardless. Can't wait to utilize it a few years down the line as an emergency fund. Won't be caught empty handed like in 2020 ever again.
@@truckingwithab2411 easiest way to think about it is how netflix seems to be changing their basic subscription every two years the plans can do the same. The general rule of thumb is unless you are maxed out at your 401K and roth for tax advantage you shouldnt even be thinking about IULs. The tax deferring option with cash value due to buying "premiums" for life insurance does not outweigh a 401k and roth tax advantage. IULs make sense for people who cannot get group term life insurance through their job and can cram two policies into one but again after maxing out 401k and roth. For eexample I gave two group term life insurance from my job equalling to about 70 bucks a month for 2 million. IULs cannot give me such a deal for life insurance so fir me the life insurance portion means nothing. The argument here is that IULs carry over regardless of job situation but for me it does not apply since if I dont have a job I wont be able to afford the premiums of IUL. also in the back end you have to remember the agent selling you this policy the commission is tied to the premiums and not the cash value.
Hi Doug, I live in the UK. I wanted to know if this applies to the UK or strictly the USA, by the way, I tried applying for your book, and it will not ship to another country. Please kindly address this. Lastly, I want to say a big thank you for putting immense energy into explaining all this, this is an eye-opener, and the educational part of it all is unmatched, thank you!
Isn't the key here trusting that your agent knows how to "structure" the policy correctly? I'm guessing that most don't. I have a IUL that is loosing cash value as the cost of the policy has gone up. Am I missing something?
Read your book, study this stuff pretty often. Like the fire today and this explains why I’ve had such a negative reaction from financial pros on this subject. Feel like I’m just about at the point I could sell these products myself,ha.
@@ecaldwell9I work with FFL I make 110 percent comp. Best decision ever I am appointed with 8 different carriers I can sell FEX, IUL ,UL accidental Medicaid Medicare dental vision etc. go to any of your local family first offices I am currently not hiring at the moment but it can change your life for sure.
yes, thank you Doug .. because as i was listening to Ramsey conversation with the lady that call about the IUL pol. she got, she was dismay knowing/hearing the adv. of Davey that she was ripe off with that IUL.. He said cancelled it and buy index fund. So bad to hear that. Good for us to learn from you. I am an Ins. life agent and this give me a strong feeling whenever I will do the presentation. Thank you so much for bringing this to public for their on good. Most important to people with IUL policy.
Great great video Doug. I'm sharing it with my existing clients as well as prospects. I've recently started helping clients with IUL policies and they're surprised to find out about this wonderful opportunity to grow money tax free and with no risk. I work with 3 top rated companies that illustrate between 5.5 to 6.5%. You talked about 11 to 50% interest crediting. Very hard to find index options that are uncapped. Can you share which companies you work with? Thanks in advance
I'm a life agent as well and I love IUL's. They are pretty much my main focus for tax-free savings and/ or retirement. Unfortunately IULs get a bad rap from many others in the financial industry. So I'm grateful for your videos and I will use them with clients when appropriate.
I purchased a convertible term 500k policy years ago. Eventually it converted to an universal life policy with a face value of 100k. I’m about 65 years old and two of my insurance salesmen have died at an early age. The last salesman twisted my arm to buy it in the first place. I have about 5k of cash value, and pretty soon they will need to increase the premium just to keep the insurance in place. Pretty soon my cash value will be depleted to zero. How is that a good thing? Im thinking the insurance salesman was thinking only if his commission because in no way was it structured properly.
Thank you for this. I came here to see if it had any real people that could give their experience after many years of paying premiums. Sorry about your situation, but at least you can help others not make a poor decision
Hi Doug, you did an amazing job explaining this! I loved it and learned so much! I've had an IUL for 9 years now and see my money growing. I'm going to get your book to learn how to position it better. I would like to ask if the cash value in the IUL is added to the original death benefit in the end or is what David Ramsey says that we loose it true. Can you clarify or make a video about it? Thank you so much!!!
Your cash value is part of what your insurance company would pay out. So let's say your policy has to pay out $1,000,000, well that death benefit would be made up of your cash value + the difference between cash value and the death benefit, otherwise known as the net amount at risk. This is the insurance you pay for. Then if you have any policy loans on the policy that amount is subtracted from the $1,000,000 death benefit For example. You have the $1mm policy. It has $600,000 of cash value. So you'd have $400,000 of insurance your paying for. Then you loan $100,000 from your policy and then pass away. The insurance company would pay $900,000 to your beneficiary.
@@eldajpaz2103 Doug is describing an Option 1 level death benefit. With an Option 2 increasing death benefit the cash value would increase the death benefit. The carrier charges additional premium for that feature. David C. Phillips J.D., CLU
This is one of the best videos I've ever viewed in my entire life and I've worked in finance. Truth be told, even in finance there are things they just don't teach you. Thank you Sir.
I am so so glad you finally addressed this Doug. Me screaming at the top of my lungs doesn't work because I am not established. BUT oh my goodness. Dave Ramsey and team are hurting people by continuously bashing IULs. You bring the TRUTH and CREDIBILITY. If people are not listening to you they are foolish. But you are right. They don't know what they don't know. I just appreciate you so much. Thanks for doing what you do in the most professional and honest way possible. EVERYONE SHOULD BE SUBSCRIBED TO YOUR CHANNEL! #laserfund #IUL #DaveRamsey #SMH #DougAndrew #TrueProfessional
@@Osthebuilder do you have any specific examples of anything written that is not factual? (Also, I agree with the writer and I have a Bachelor's in Finance and the CFP®, so I am not sure what you mean by him needing "some school")
Im so very new to all of this but you made it all so very clear. You mentioned over and over how the policy must be structured correctly but also mentioned how most agents don’t understand how this works. How do I know if I get a “well-structured” policy?
Its not too complicated, just want to make sure it is max funded based on the death benefit you have. I am licensed and would be glad to speak with you and show you some correctly designed options for your case. Let me know if you would like to get in touch.
Hi Alicia, we work directly with professionals to train them on how to do this correctly. You can schedule a time to speak with one of them here: www.3dimensionalwealth.com/getstarted We also have other videos that cover this question specifically: ruclips.net/video/qS0xt_pfEo8/видео.html
One thing I didn't understand. What about the call option price? If the call option that: "can use $100/share to buy the S&P in the next year" cost $2. When S&P goes up by 8%, call options give you $8-$2 = $6/share, your $40k will become $40k*($6/$2) = $120k. You get $120k/$1M = 12% of return rate, indeed, just like in the video. However, If the call option that: "can use $100/share to buy the S&P in the next year" cost more than $2, say $6, then your call options give you $8-$6 = $2/share. Your $40k will become $40k*($2/$6) = $13.3k. You only get $13.3k/$1M = 1.33% of return rate. If the call options cost, say, $10 (very likely when everyone believes that the market will go up), then you get 0% of return rate.
I have the same policy with a value of $200000. If it is invested and made more than the policy. in terms of return, like more than million, am I be able to withdraw/received a million??? Thank you for this wonderful video, I learned a lot by watching this. I subscribed to the channel and dropped a 👍 on this video. This is superb!
Doug, thank you so much for this amazing video! I will order the book right now. I recently discovered the IUL, and I am super excited to open one. How can I get the answers to those 5 questions of yours? Would really want them:) THANK YOU!
Hey there, an IUL Professional can answer those questions for you. You can also find the answers in other videos on my channel. You can setup a time to speak directly to an IUL Professional we work with here: www.3dimensionalwealth.com/getstarted
MY BRAIN ISNT EVEN BUILT LIKE THAT ...ITZ COMING ON AROUND TO BE ABLE TO SEAT THRO & ETC ...THANK UUU SOOOOO MUCH !! DAT WAZ GOOD !!!!! I WILL BE GETN THE BOOK ASWELL !!!
I don’t know how educated people like Dave Ramsey can come up with these conclusions. I am a financial professional who has a max funded IUL and making 21% interest.
@@DavidRamseyIII hahaha - no living benefits, cash value stolen by carrier in the event of death of the insured, expensive etc are some of its characteristics
The catch all phrase... “Structured properly….” Can you please show a video going through a “correctly structured” IUL …where are they invested if not in the stock market? If I may ask.
Very broad explanation. Do I need to tell the insurance company to link the percentage earnings or they do it automatically?. I just got to know about IUL.
For more information, make sure to check out our playlists where we have many videos just for learning more about IULs! ruclips.net/p/PLF8af6gsBLfnuEQPmmm-YUM2fsk1wp4Nj&si=8aB8ZsQNQxN6NuPy I also recommend going to our website where you can meet with an IUL professional, get a copy of the LASER Fund, and do it all for FREE! 3dimensionalwealth.com/
Great one as usual Mr. Andrew the only request why at the end of every new video u asked 5 questions that you would ask one of the haters can u put new questions at the end? Thanks
Started an IUL when i was 18 now im 21 and have almost 5 k on my IUL i average about 10% interest its nice just that the cost of isurance goes up each year because you get older
Also a con too is you cant take your money right away until you have 6 years with your policy and i know because i called the company and told me i cant get my money till i have 6 years with the policy
@@Depto228 dont know much but the cost of insurance goes up like 20$ each year plus the 25$ fee q month and the company im with is national life group suppose to be one of the top companies for insurance and its not the best
@@ElCOMPAEDDIE like Doug said, it depends on what company. However 6 years is still better than 40 years (starting at age 20) compared to 401k/IRA Roth IRA.
IUL sounds tricky because it may not perform as sold by the policy due to a fluctuating market also insurance companies can change the terms at will. I think with IUL the specific policy must be back tested to see it average returns and checked how often the company changed the terms year over year.
They explanation was very clear and the IUL seems like a no brainer… for the ALREADY wealthy. While I make a decent living at $130,000. I still can’t afford the monthly commitment.
Love this information, I will definitely learn the ends and out of IUL. I have my life insurance license and I’m contracted with some of the biggest insurance carriers in the business. Thank you again.
It's a game changer for clients when you learn how to offer properly structured IUL's. Are you contracted with a good agency that supports you with product and business education? If not, I'd be glad to help you.
So about the options trading part, how much is allocated ? Say 5% , was it 5% of the annual contribution or 5% of total cash values invested and keep scaling ?
This sounds very good, but what if you are not into keeping up with the ups and downs of the market? Can the insurance Maximize your gains automatically or that’s not possible?
I recommend scheduling an appointment with one of the IUL Specialists we work with. You can schedule by visiting www.3dimensionalwealth.com/getstarted.
@@factshurt5362 I recommend scheduling an appointment with one of the IUL Specialists we work with. You can schedule by visiting www.3dimensionalwealth.com/getstarted.
So, what I am understanding here is that IUL has a fixed crediting rate of X% p.a. Whenever the customer chooses to link to the index, they would give up that X% for that year and the insurer will take that X% to buy a call option on the index. If the index goes up, the call option will be worth a lot and then the returns, minus the X%, will be what the customer gets. If the index goes down, the call option becomes worthless and the X% is lost. However, since the X% is just a year's interest on the principal, the principal amount has never been at risk.
I was told that I would have 2.5 million to borrow out of at 65 with IUL so I don't know how people are saying that it'll be better invest the 300 per month on just the stock market... if I would've done that I would lost money with the way the stock market is going in 2022 and 2023...
As a registered advisor, I could absolutely be wrong with this opinion, but this sounds way too good to be true. how could the insurance companies make a profit off of a product like this?
@@Zozq2345 a properly structued IUL policy is grossly overfunded to prevent the policy from lapsing on itself due to the exponentially increasing cost of insurance. It is definitely not free and will inevitably drain you out of your cash value.
@chrismaloney1402 structured properly , you are practically self insured keeping your insurance cost low..as policy matures the cost would decrease compared to most other vehicles...the cost of a cash valued IUL of $10mm properly structured IUL would be much lower than an AUM fee that avg 1.5%
Exactly!! Life ins companies are in the business of making money!! IUL is JUST GARBAGE!! Insurance agents just love the 3K commission they make when they sell a policy of $450 a month! 😂 well said Chris!!
It's more important that the policy is structured correctly, than which carrier you use. You'll want to work with someone who knows how to do that. If you need to speak to someone who understands these concepts, you can schedule a time to speak to an IUL Specialist we work with here: www.3dimensionalwealth.com/getstarted
Hi Doug Andrew! Great video! I am from Argentina, I don't live in EEUU but I am very interested in this... Do you have foreign clients? Can I access these well-structured insurances being from another country?
Thank you so much for educate us about IUL , I just order your book and I’m listening to the Audio book this week , I’ve learn so much and I can’t thank you enough to everything you do .Much love and respect ❤
I am an electrical engineer. This was super confusing. I am starting my research on this subject and have watched about 2 hours of content and it still doesn't make much sense. It comes off as gimmicky as "velocity banking". I am keeping an open mind but it would be good to see some real numbers and clear examples.
Glad you reached out! See how the LASER Fund strategies can work for you by visiting our website (I3dimensionalwealth.com/getstarted) and setting up a meeting with an IUL Specialist. You can then begin to determine for yourself how these strategies will work for you and your particular set of circumstances.
That’s a great question! We would need to have a much more in depth conversation about your situation to see what’s possible. It depends on what types of health issues you’re facing. Good health is obviously preferable. You can request a time to meet with an IUL Specialist here: www.3dimensionalwealth.com/getstarted
Amazing video! Max funded IUL is the best vehicle to compound your money all while saving all your principle due to market declines. Some index credit strategies offer 200+% participation as well! with no cap and 0 spread. other than a FIA it’s the best plan to have!
If your annual gain is 12% and you pay 33% of gain taxes then your actual annual gain post taxes is 8%?!?!? (timestamp 6:30) You pay gain taxes once, not every year!!! A 100$ investment with 12% annual interest for twenty years will result in 964$. After 33% gain taxes you are left with a net of 679$, which is a 10.05% annual interest and not 8%!!! Didn't you learn math in high school?
Great information, interesting topic. In Dave's defense, he's broadly speaking to folks who are just beginning to get their finances and debt in order. When someone is drowning you don't try to teach them a butterfly stroke.
We can actually minimize the costs through a concept called self insurance. By decreasing the net amount at risk, the amount of renewable term decreases, which decreases or offsets the costs of the term itself. So a policy should only get better over time. Its all about getting it structured correctly.
Amazing Video!! Thank you!! I have been researching this IUL for the past few months. Never heard of it until it became popular on social media lol. Doug, Do you suggest any specific company's that know how to properly structure this?
Thank you so much I've watch about 10 of your videos in the past few days. I've been doing as much research before I start a life insurance policy, what are some of your recommendations for the best life insurance companies?
Great question! More important than the carrier is having it setup correctly. If your IUL Professional doesn’t set it up correctly, the policy will suffer. If you need to chat with someone, you can speak with one of the IUL Specialists we work with here: www.3dimensionalwealth.com/getstarted
I’m not a Ramsey fan except on debt. Most I his ins advice is bogus. I have a client who was once a Ramsey preferred divider insurance agent. I asked how he become one. He said I just asked and sent in my money. That was it. No interview, no vetting no nothing. What he did do was pay for leads that Ramsey doled out to him. That’s his game. He makes money for referring listeners to agents that pay for them. It’s a marketing ploy and nothing more.
His debt advice is helpful for those who have more "month" left at the end of their money. Once you've got the money, its a different game. Thanks for your comments!
Thank you very much ! I recently took IUL from Nation Wide . But after hearing Dave Ramsey podcast, i thought i got scammed by agents. This is an eye opener. Very thankful to you for making this video Doug Andrew .
just started chanting "Doug, Doug, Doug, Doug, Doug!" to myself- IUL specialist...Watched many of your videos when I first started and you are the guy who switched my focus from other Insurance products to IULs!
Thank you for the knowledge and for your soothing voice
Thank You! You're Welcome!
I'm a financial advisor and I'm grateful that someone smart enough can explain this instead of listening to that Dave Ramsey nonsense... I can't say enough how many of my clients are happy and not going through heart attacks to have an IUL with the protection they have against the down market... Thank you Doug
You are most welcome!
I'm from Singapore, and this is so valuable as the financial hub of South East Asia. We still mainly invest in the US markets, which are still subjected to US taxes. Some specific features differ from product to product, but the underlying principle is the same.
Only found out about you recently, looking forward to more of your videos and books!
Great video, easy to understand for any one of “average” intelligence. Besides, not understanding exactly how electricity works-for example-does not mean that in the dark would be wise. As an investor, I know IULs work very well when properly written. Throughout the years, it has performed way better than my mutual fund investments.
I discovered you today and this is the second video I watch of yours, I am now a subscriber and loyal fan! Might I add, there's moments when you talk that remind me of the way Jim Rohn used to talk. :)
A wise man once said,,, invest in things that are easy to understand. Nothing about IUL’s are easy to understand. He’s struggling so hard to make it sound simple. Good luck all.
Agreed. If its too good to be true theres underlying underwriting that will screw you
So what has your research and experience revealed? Was this a success or failure for you? Seems like those who found successes be lying by your take? Listening....
@@kane551014 failure the premiums are locked in for 1 year only and no guarantee of lower cap in underwriting
Took a lot of scrolling to find a comment from someone who wasn’t an insurance broker 🤣
All of the negative replies are investment advisor reps and/or broker dealers/agents that are scared to death of losing clients to high cash value life insurance. He says it in this video, "the worst form of ignorance are those that poopoo on things they don't understand". Stupidity at its finest.
Thank you Doug for this extremely easy-to-digest explanation of the IUL Policy. Very well delivered. I just received my Laser Fund book and can't wait to delve in. Please keep doing what you're doing. You are providing so much value to seasoned and new financial professionals. Much appreciated. -Win F.
Watched the entire video. Exceptionally done. Oft times the Ramsey folks tend to lash out emotionally with extreme rhetoric when categorically dismissing ANY life insurance based strategy. Typically, emotional rants are a result of a lack of understanding, maturity, or the facts simply aren't on their side. In most cases, it is usually a combination of all of the above. Keep the great content coming, Doug! Thank you for this.
Thank you Brad!
I have noticed over the years that "the Ramsey folks [including his following] tend to lash out emotionally with extreme rhetoric" at anything that deviates in any way from his-and only his-system, which is treated as incontrovertible diktats.
I think _Total Money Makeover_ and _Financial Peace University_ are really good for what they are, but they are not the end-all be-all that they pretend to be, and the whole environment just gets a insufferable after a while.
Being from Tn. Dave Ramsey did hold a life and health insurance license. He had ownership in a magor insurance firm
I've been listening to the Dave Ramsey Show for over 20 years. I have heard his argument on this subject many times and it's not an emotional rant. He uses facts and logic. He knows more about it than most people who sell this junk. He has nothing to gain by telling people how different types of insurance work and recommending term life.
@@BC-jv8lq not true. He was a member of Primerica for a very short period of time. He didn't own an insurance firm. Get your facts straight.
Started my IUL last year at 29, I don’t regret it. And my agent structured it properly and if I had any questions, he was there to answer everything in great detail
Awesome!
How’d you decide where to go to start a IUL and Howd you know the agent was going to structure it properly?
@@Casch44 I did my own research and kept asking questions along the way. My agent is awesome, he breaks down everything for me step by step so I can understand.
Hi, just wondering what insurance company you used?
Which insurance company sis you choose
Thank you for this video! I am a life insurance advisor and I’ve helped so many retirees get a higher death benefit for the price by setting them up with an IUL instead of final expense. I was so confused when Dave Ramsey came out with that article. It felt like an article written by a troll instead of an intellectual.
Whoever wrote it clearly misunderstands the entire concept.
you may want to read an article by The White Coat Investor called "Debunking the Myths of Whole Life Insurance" (would post the link, but i can't)
So your selling trash
Preach! I'm learning so much from you. Thank you!❤
Thank you, Doug, for this great information.! I love the fact that you are going through this page by page to show how IUL's really work.
I have learned so much from you Mr. Andrews. I truly appreciate your your knowledge and experience in financial industry. I hope to be half of the life producer that you are. Awesome!!!!
Wow!!! This was so dope. Thank you for sharing your knowledge about maximum payout IUL's in such detail Doug. This video was excellent!!! We might need to setup a petition to get you onto an episode of #EarnYourLeisure 🎓💰📈😎
I am am a HUGE fan of Doug now after watching the interview I saw with him talking about an IUL. Great Job Doug and please keep posting videos...
Doug Andrew explains everything fully in this video! IUL is one of my top products. My clients love them and what it earns for them SAFELY as well
Doug! You are a G for this! love the educational series and I'm a life license myself and you just boosted my conviction to be a part of this movement of IUL!
Thank you Charles!
@@missedfortune Doug can you set up my IUL? What insurance company do you reccomend?
@@4020E Hi Eric, I see you haven't received a reply. I'm glad to help you set-up an IUL just as Doug is illustrating. If you'll click over to my channel, my contact info is in the image in my cover picture. I look forward to hearing from you!
Been waiting for Andrew to bring this to light. I never followed anything Ramsey said when it comes to IUL's...
Thanks for the support! Make sure to check out our playlist "Does IUL Work?" for more information! ruclips.net/p/PLF8af6gsBLfnuEQPmmm-YUM2fsk1wp4Nj&si=11qaiik_VICXCQm2
I'm 30, Started my iul last year. My employer 401k already tanking but it's nice to see the iul growing steadily. I don't make much as construction is kinda slow but I'm glad to see the iul working regardless. Can't wait to utilize it a few years down the line as an emergency fund. Won't be caught empty handed like in 2020 ever again.
That’s amazing!
Who do you use? I met someone this weekend who told me about IUL , and I’m going to talk to his advisor soon..I’m skeptical
You do understand that your premiums are dicated by the company can change. Essentially its a subscription plan hidden under the term 'premiums'
@@Tkh21209 can you please explain a little bit more what you mean by this . Thanks
@@truckingwithab2411 easiest way to think about it is how netflix seems to be changing their basic subscription every two years the plans can do the same. The general rule of thumb is unless you are maxed out at your 401K and roth for tax advantage you shouldnt even be thinking about IULs. The tax deferring option with cash value due to buying "premiums" for life insurance does not outweigh a 401k and roth tax advantage. IULs make sense for people who cannot get group term life insurance through their job and can cram two policies into one but again after maxing out 401k and roth. For eexample I gave two group term life insurance from my job equalling to about 70 bucks a month for 2 million. IULs cannot give me such a deal for life insurance so fir me the life insurance portion means nothing. The argument here is that IULs carry over regardless of job situation but for me it does not apply since if I dont have a job I wont be able to afford the premiums of IUL. also in the back end you have to remember the agent selling you this policy the commission is tied to the premiums and not the cash value.
Hi Doug, I live in the UK. I wanted to know if this applies to the UK or strictly the USA, by the way, I tried applying for your book, and it will not ship to another country. Please kindly address this. Lastly, I want to say a big thank you for putting immense energy into explaining all this, this is an eye-opener, and the educational part of it all is unmatched, thank you!
Started my IUL at 40. I wish I started earlier. MAn you’re good. Thanks so much for your video.
Thanks for tuning in!
I’ve been doing my research about getting a IUL. Just curious which company did you go through?
Hi how long have you had your policy?
@@AuthenticleatriceI’m gonna sell through WFG until I create my own brokerage
Good video Doug. Im a fellow financial rep 35 years.
Thanks
BC
Isn't the key here trusting that your agent knows how to "structure" the policy correctly? I'm guessing that most don't. I have a IUL that is loosing cash value as the cost of the policy has gone up. Am I missing something?
Whaaaat how is it losing cash value???
Read your book, study this stuff pretty often. Like the fire today and this explains why I’ve had such a negative reaction from financial pros on this subject. Feel like I’m just about at the point I could sell these products myself,ha.
Right on you for getting educated. There's no one more interested in your success than yourself!
@@missedfortunethank you
This makes absolute sense to me and why I think to provide nothing but IUL as a cashflow generation resource.
I have a dual license, start my interview with farmers on monday, thanks for being the research that I need at this moment, master level
If u have a dual Lic - why not work at one of the firms he mentioned in this video?
@@ecaldwell9I work with FFL I make 110 percent comp. Best decision ever I am appointed with 8 different carriers I can sell FEX, IUL ,UL accidental Medicaid Medicare dental vision etc. go to any of your local family first offices I am currently not hiring at the moment but it can change your life for sure.
yes, thank you Doug .. because as i was listening to Ramsey conversation with the lady that call about the IUL pol. she got, she was dismay knowing/hearing the adv. of Davey that she was ripe off with that IUL.. He said cancelled it and buy index fund. So bad to hear that. Good for us to learn from you. I am an Ins. life agent and this give me a strong feeling whenever I will do the presentation. Thank you so much for bringing this to public for their on good. Most important to people with IUL policy.
Great great video Doug. I'm sharing it with my existing clients as well as prospects. I've recently started helping clients with IUL policies and they're surprised to find out about this wonderful opportunity to grow money tax free and with no risk. I work with 3 top rated companies that illustrate between 5.5 to 6.5%. You talked about 11 to 50% interest crediting. Very hard to find index options that are uncapped. Can you share which companies you work with? Thanks in advance
I'm a life agent as well and I love IUL's. They are pretty much my main focus for tax-free savings and/ or retirement. Unfortunately IULs get a bad rap from many others in the financial industry. So I'm grateful for your videos and I will use them with clients when appropriate.
Thanks for tuning in!
What companies do you contact for these types of insurance
@@josec.santana9642 If you're asking which carriers I use for IUL's, usually F&G.
@@terryhypnogurl8511 Can this company structure the policy the way Doug Andrew explains it?
@@PastorScottHinton Yes, absolutely.
I purchased a convertible term 500k policy years ago. Eventually it converted to an universal life policy with a face value of 100k. I’m about 65 years old and two of my insurance salesmen have died at an early age. The last salesman twisted my arm to buy it in the first place. I have about 5k of cash value, and pretty soon they will need to increase the premium just to keep the insurance in place. Pretty soon my cash value will be depleted to zero. How is that a good thing? Im thinking the insurance salesman was thinking only if his commission because in no way was it structured properly.
seems like the amount you had to dedicate to this instrument was not sufficient and you should have likely just had that in a roth or IRA
Thank you for this. I came here to see if it had any real people that could give their experience after many years of paying premiums. Sorry about your situation, but at least you can help others not make a poor decision
Yeah, well you got scammed! This is just a big scam...
Hi Doug, you did an amazing job explaining this! I loved it and learned so much! I've had an IUL for 9 years now and see my money growing. I'm going to get your book to learn how to position it better. I would like to ask if the cash value in the IUL is added to the original death benefit in the end or is what David Ramsey says that we loose it true. Can you clarify or make a video about it? Thank you so much!!!
Your cash value is added to your death benefit if you dnt borrow it
Your cash value is part of what your insurance company would pay out. So let's say your policy has to pay out $1,000,000, well that death benefit would be made up of your cash value + the difference between cash value and the death benefit, otherwise known as the net amount at risk. This is the insurance you pay for. Then if you have any policy loans on the policy that amount is subtracted from the $1,000,000 death benefit
For example. You have the $1mm policy. It has $600,000 of cash value. So you'd have $400,000 of insurance your paying for. Then you loan $100,000 from your policy and then pass away.
The insurance company would pay $900,000 to your beneficiary.
@@missedfortune Is this for a level or an increasing IUL?
@@eldajpaz2103 Doug is describing an Option 1 level death benefit. With an Option 2 increasing death benefit the cash value would increase the death benefit. The carrier charges additional premium for that feature.
David C. Phillips J.D., CLU
Oh boy
This is one of the best videos I've ever viewed in my entire life and I've worked in finance. Truth be told, even in finance there are things they just don't teach you. Thank you Sir.
Yes, me too.
You are welcome!
Leverage without liquidity is stupidity! This is where so many go wrong - great quote
Thank you!
I am so so glad you finally addressed this Doug. Me screaming at the top of my lungs doesn't work because I am not established. BUT oh my goodness. Dave Ramsey and team are hurting people by continuously bashing IULs. You bring the TRUTH and CREDIBILITY. If people are not listening to you they are foolish. But you are right. They don't know what they don't know. I just appreciate you so much. Thanks for doing what you do in the most professional and honest way possible. EVERYONE SHOULD BE SUBSCRIBED TO YOUR CHANNEL! #laserfund #IUL #DaveRamsey #SMH #DougAndrew #TrueProfessional
you may want to read an article by The White Coat Investor called "Debunking the Myths of Whole Life Insurance" (would post the link, but i can't)
@@blakepokley7 whoever wrote that needs some school .. lots of sky is falling talk that are not factual !
@@Osthebuilder do you have any specific examples of anything written that is not factual?
(Also, I agree with the writer and I have a Bachelor's in Finance and the CFP®, so I am not sure what you mean by him needing "some school")
It's overwhelming and it's hard to make money without any to start 😢
Ramsey talks about getting out debt consumer debt that is. This is new level. And that is why rich get richer. Thank you for the value.
This video is packed with valuable information. I had questions and this video answered them! I am definitely get the laser fund book!
Glad it was helpful!
Hey there, you can setup a time to speak directly to an IUL Professional we work with here: www.3dimensionalwealth.com/getstarted
Im so very new to all of this but you made it all so very clear. You mentioned over and over how the policy must be structured correctly but also mentioned how most agents don’t understand how this works. How do I know if I get a “well-structured” policy?
Its not too complicated, just want to make sure it is max funded based on the death benefit you have.
I am licensed and would be glad to speak with you and show you some correctly designed options for your case. Let me know if you would like to get in touch.
Hi Alicia, we work directly with professionals to train them on how to do this correctly. You can schedule a time to speak with one of them here: www.3dimensionalwealth.com/getstarted
We also have other videos that cover this question specifically: ruclips.net/video/qS0xt_pfEo8/видео.html
Anyone who wants to go forth an IUL or any other vehicles of investment must always go through a Financial Needs Analysis first before anything else
Thank you for re-educating everyone and the Ramsey team. "They don't know what they know!" (very respectful comeback!)
Thank you for tuning in!
EXCELLENT VIDEO Thank you Doug Great info. I will make sure I share this video 🗽✅⭐🔥
I appreciate that
Best 39.02 minutes I've spent on RUclips in a long time!!!!!
Thanks for tuning in!
@@missedfortune I just shared this with another Agent. We really need to expose these frauds they are ruining people out here!!!
I am an agent with less than one year of experience. And I am glad to be able to correctly answer the 5 questions :)
I invite you to visit www.iulinsiderpro.com to learn more about training/mentoring/education for licensed professionals.
One thing I didn't understand. What about the call option price?
If the call option that: "can use $100/share to buy the S&P in the next year" cost $2. When S&P goes up by 8%, call options give you $8-$2 = $6/share, your $40k will become $40k*($6/$2) = $120k. You get $120k/$1M = 12% of return rate, indeed, just like in the video.
However, If the call option that: "can use $100/share to buy the S&P in the next year" cost more than $2, say $6, then your call options give you $8-$6 = $2/share. Your $40k will become $40k*($2/$6) = $13.3k. You only get $13.3k/$1M = 1.33% of return rate.
If the call options cost, say, $10 (very likely when everyone believes that the market will go up), then you get 0% of return rate.
Loved it. But I would have understood more if it had animations or diagrams because he's a very complex topic yeah it's super important to understand
Don't put your money in anything you dont understand.
I have the same policy with a value of $200000. If it is invested and made more than the policy. in terms of return, like more than million, am I be able to withdraw/received a million??? Thank you for this wonderful video, I learned a lot by watching this. I subscribed to the channel and dropped a 👍 on this video. This is superb!
An Absolutely Fantastic Presentation, Very Educational And Explained Perfectly 🙏🏽
Glad it was helpful! Make sure to watch more of the channel to learn more great information!
Doug, thank you so much for this amazing video! I will order the book right now. I recently discovered the IUL, and I am super excited to open one. How can I get the answers to those 5 questions of yours? Would really want them:) THANK YOU!
Hey there, an IUL Professional can answer those questions for you. You can also find the answers in other videos on my channel. You can setup a time to speak directly to an IUL Professional we work with here: www.3dimensionalwealth.com/getstarted
MY BRAIN ISNT EVEN BUILT LIKE THAT ...ITZ COMING ON AROUND TO BE ABLE TO SEAT THRO & ETC ...THANK UUU SOOOOO MUCH !! DAT WAZ GOOD !!!!! I WILL BE GETN THE BOOK ASWELL !!!
Wow, finally, someone who understands IUL insurance..!
WOW, Doug went in. You have to because people may be paid to come after a system that gives people financial freedom. This is crazy
I don’t know how educated people like Dave Ramsey can come up with these conclusions. I am a financial professional who has a max funded IUL and making 21% interest.
I think he knows what he is doing!
No "financial professional" would make this type of statement.
@@jasonbowman709 confused if we see and read truth and insist otherwise.
“Financial professional” = whole life salesman scum.
@@DavidRamseyIII hahaha - no living benefits, cash value stolen by carrier in the event of death of the insured, expensive etc are some of its characteristics
The catch all phrase... “Structured properly….”
Can you please show a video going through a “correctly structured” IUL
…where are they invested if not in the stock market? If I may ask.
Here is a playlist of what a properly structured policy can do: ruclips.net/p/PLF8af6gsBLfnuEQPmmm-YUM2fsk1wp4Nj
Very nice presentation with good explanations. Thank you, Doug.
Glad you liked it!
Very broad explanation. Do I need to tell the insurance company to link the percentage earnings or they do it automatically?. I just got to know about IUL.
For more information, make sure to check out our playlists where we have many videos just for learning more about IULs! ruclips.net/p/PLF8af6gsBLfnuEQPmmm-YUM2fsk1wp4Nj&si=8aB8ZsQNQxN6NuPy
I also recommend going to our website where you can meet with an IUL professional, get a copy of the LASER Fund, and do it all for FREE! 3dimensionalwealth.com/
Great one as usual Mr. Andrew the only request why at the end of every new video u asked 5 questions that you would ask one of the haters can u put new questions at the end?
Thanks
We would love to see an Andrew vs. Dave podcast!!
Started an IUL when i was 18 now im 21 and have almost 5 k on my IUL i average about 10% interest its nice just that the cost of isurance goes up each year because you get older
Also a con too is you cant take your money right away until you have 6 years with your policy and i know because i called the company and told me i cant get my money till i have 6 years with the policy
Some companies have different policies with liquidity. IUL can be structured with better liquidity than that
Do you know the expense ratio and account fees ? Hope you know what your actual payout will be.
@@Depto228 dont know much but the cost of insurance goes up like 20$ each year plus the 25$ fee q month and the company im with is national life group suppose to be one of the top companies for insurance and its not the best
@@ElCOMPAEDDIE like Doug said, it depends on what company. However 6 years is still better than 40 years (starting at age 20) compared to 401k/IRA Roth IRA.
Thank you for explanation this Dave. I got your free book and I have learnt a lot
IUL sounds tricky because it may not perform as sold by the policy due to a fluctuating market also insurance companies can change the terms at will. I think with IUL the specific policy must be back tested to see it average returns and checked how often the company changed the terms year over year.
They explanation was very clear and the IUL seems like a no brainer… for the ALREADY wealthy. While I make a decent living at $130,000. I still can’t afford the monthly commitment.
Thank you, Doug. Great and awesome video. Now it is clear for me. Some are saying that it is invested in bonds.
May I know your book please. Thank you.
The LASER Fund. You can order your copy at www.laserfund.com
Doug, you are a master at sales. I wish you would "take me under your wing."
Thank you! Head over to www.iulinsiderpro.com and join us for a webinar coming up!
Awesome video! Great job explaining in more details Mr. Doug.
thank you, kindly!
Is it worth investing in an IUL in NY where you are capped at 9.5%?
Love this information, I will definitely learn the ends and out of IUL.
I have my life insurance license and I’m contracted with some of the biggest insurance carriers in the business.
Thank you again.
It's a game changer for clients when you learn how to offer properly structured IUL's. Are you contracted with a good agency that supports you with product and business education? If not, I'd be glad to help you.
Just wondering.. what does insurance do with premiums and your money?
So about the options trading part, how much is allocated ? Say 5% , was it 5% of the annual contribution or 5% of total cash values invested and keep scaling ?
This sounds very good, but what if you are not into keeping up with the ups and downs of the market? Can the insurance Maximize your gains automatically or that’s not possible?
Hi Doug can you recommend someone I can pay to look at my IUL just to make sure it’s structured correctly. I appreciate your time and explanation.
I’m in the same boat. 4 years in and I feel like I’m good and 99% trust my agent but wanna know 💯
I recommend scheduling an appointment with one of the IUL Specialists we work with. You can schedule by visiting www.3dimensionalwealth.com/getstarted.
@@factshurt5362 I recommend scheduling an appointment with one of the IUL Specialists we work with. You can schedule by visiting www.3dimensionalwealth.com/getstarted.
I am new to learning about IUL's. You say they are great if done right. Is there a particular insurance company that you recomment?
TransAmerica
So, what I am understanding here is that IUL has a fixed crediting rate of X% p.a.
Whenever the customer chooses to link to the index, they would give up that X% for that year and the insurer will take that X% to buy a call option on the index.
If the index goes up, the call option will be worth a lot and then the returns, minus the X%, will be what the customer gets.
If the index goes down, the call option becomes worthless and the X% is lost.
However, since the X% is just a year's interest on the principal, the principal amount has never been at risk.
Will we get any fees incurred after 15 year IUL is paid off to maintain those index funds by insurance company or to maintain the policy ?
I was told that I would have 2.5 million to borrow out of at 65 with IUL so I don't know how people are saying that it'll be better invest the 300 per month on just the stock market... if I would've done that I would lost money with the way the stock market is going in 2022 and 2023...
Correction they had a million at beginning of 2008 and a million at end minus the premium/ fees
As a registered advisor, I could absolutely be wrong with this opinion, but this sounds way too good to be true. how could the insurance companies make a profit off of a product like this?
It's not too good to be true..its too good to be free. A Properly Structured IUl is the key.
@@Zozq2345 a properly structued IUL policy is grossly overfunded to prevent the policy from lapsing on itself due to the exponentially increasing cost of insurance. It is definitely not free and will inevitably drain you out of your cash value.
@chrismaloney1402 structured properly , you are practically self insured keeping your insurance cost low..as policy matures the cost would decrease compared to most other vehicles...the cost of a cash valued IUL of $10mm properly structured IUL would be much lower than an AUM fee that avg 1.5%
How much money has to be dumped in the policy within the first 7 years to prevent it from becoming a MEC?
Exactly!! Life ins companies are in the business of making money!! IUL is JUST GARBAGE!! Insurance agents just love the 3K commission they make when they sell a policy of $450 a month! 😂 well said Chris!!
So glad I found you Doug! You’re changing my life man!
Happy to help!
Gonna watch these until it makes sense
What companies should i research to look further into the insurance?
It's more important that the policy is structured correctly, than which carrier you use. You'll want to work with someone who knows how to do that. If you need to speak to someone who understands these concepts, you can schedule a time to speak to an IUL Specialist we work with here: www.3dimensionalwealth.com/getstarted
Hi Doug Andrew!
Great video!
I am from Argentina, I don't live in EEUU but I am very interested in this...
Do you have foreign clients? Can I access these well-structured insurances being from another country?
I scheduled a call monday @ 11:30 I hope I can speak to you. awesome video keep grinding great break downs.
You didn't talk about the fee.
Thank you so much for educate us about IUL , I just order your book and I’m listening to the Audio book this week , I’ve learn so much and I can’t thank you enough to everything you do .Much love and respect ❤
Hope you enjoy it!
fyi Doug explains the word "indexing" at 23:00
I am an electrical engineer. This was super confusing. I am starting my research on this subject and have watched about 2 hours of content and it still doesn't make much sense. It comes off as gimmicky as "velocity banking". I am keeping an open mind but it would be good to see some real numbers and clear examples.
Glad you reached out! See how the LASER Fund strategies can work for you by visiting our website (I3dimensionalwealth.com/getstarted) and setting up a meeting with an IUL Specialist. You can then begin to determine for yourself how these strategies will work for you and your particular set of circumstances.
@@missedfortunethank you. I will do so.
Feel your passion and appreciate your clarification. I heard you say cash value can be transferred after death
I hear an important statement from Doug: "Properly Structured"!!!
It's very important!
How does an IUL credit 65% plus? I’ve seen on average a 12% cap on a yearly point to point
Buy term life insurance & invest the difference in no load mutual funds.
What are some examples of legal reserve insurance companies that structure their IUL like Doug mentions?
Very good video thank you. I’m 60 can I still
get this type of insurance and also do I have to be in good health condition?
That’s a great question!
We would need to have a much more in depth conversation about your situation to see what’s possible. It depends on what types of health issues you’re facing. Good health is obviously preferable.
You can request a time to meet with an IUL Specialist here: www.3dimensionalwealth.com/getstarted
Wow! What a lecture1Great job Doug.
Thank you!
Amazing video! Max funded IUL is the best vehicle to compound your money all while saving all your principle due to market declines. Some index credit strategies offer 200+% participation as well! with no cap and 0 spread. other than a FIA it’s the best plan to have!
Which company offers that?
@@jyotipurba F&G annuities & life.
If your annual gain is 12% and you pay 33% of gain taxes then your actual annual gain post taxes is 8%?!?!? (timestamp 6:30)
You pay gain taxes once, not every year!!!
A 100$ investment with 12% annual interest for twenty years will result in 964$.
After 33% gain taxes you are left with a net of 679$, which is a 10.05% annual interest and not 8%!!!
Didn't you learn math in high school?
What happens to the cash in the investment account when the policy holder dies?
Great information, interesting topic. In Dave's defense, he's broadly speaking to folks who are just beginning to get their finances and debt in order. When someone is drowning you don't try to teach them a butterfly stroke.
Thank you for the video. I am the fan of IUL. I listen to your first video back in 2008 when we talking about Asset Optimization
Thanks for watching and thanks for your continued support!
you cant get arounnd iul is annual renewable term? the cost goes up every year!
We can actually minimize the costs through a concept called self insurance. By decreasing the net amount at risk, the amount of renewable term decreases, which decreases or offsets the costs of the term itself. So a policy should only get better over time.
Its all about getting it structured correctly.
Amazing Video!! Thank you!! I have been researching this IUL for the past few months. Never heard of it until it became popular on social media lol. Doug, Do you suggest any specific company's that know how to properly structure this?
Hey there, you can setup a time to speak directly to an IUL Professional we work with here: www.3dimensionalwealth.com/getstarted
It is about time to answer this questionable advice from Ramsey with facts. Thank you very much.
Glad it was helpful!
Thank you so much I've watch about 10 of your videos in the past few days. I've been doing as much research before I start a life insurance policy, what are some of your recommendations for the best life insurance companies?
Great question! More important than the carrier is having it setup correctly. If your IUL Professional doesn’t set it up correctly, the policy will suffer.
If you need to chat with someone, you can speak with one of the IUL Specialists we work with here: www.3dimensionalwealth.com/getstarted
you may want to read an article by The White Coat Investor called "Debunking the Myths of Whole Life Insurance" (would post the link, but i can't)
I’m not a Ramsey fan except on debt. Most I his ins advice is bogus. I have a client who was once a Ramsey preferred divider insurance agent. I asked how he become one. He said I just asked and sent in my money. That was it. No interview, no vetting no nothing. What he did do was pay for leads that Ramsey doled out to him. That’s his game. He makes money for referring listeners to agents that pay for them. It’s a marketing ploy and nothing more.
His debt advice is helpful for those who have more "month" left at the end of their money. Once you've got the money, its a different game. Thanks for your comments!
you may want to read an article by The White Coat Investor called "Debunking the Myths of Whole Life Insurance" (would post the link, but i can't)