Agents who arent security licensed shouldn't be comparing an IUL to an investment in terms of them both being investments. My own understanding of the rules is:
- You can compare the risk of having investments in general against having money build in an IUL in terms of market risk (as long as you disclose all fees & facts)
- Never talk about IUL in terms of ROI, but you can talk about the IRR in order to compare potential gains to other financial vehicles
- Never recommend taking money from investments to fund life insurance in general - you can show them what a certain premium would provide in terms of death benefit and potential cash value