Lloyds of Lubbock
Guru
- 750
Even at a zero your cash value is going backwards.
Even a slight margin call is a very tough conversation with a client.
Even a slight margin call is a very tough conversation with a client.
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Even at a zero your cash value is going backwards.
Even a slight margin call is a very tough conversation with a client.
If it is a spread, but 0% floor, can you explain 2007 & 2018 on their far right coumn showing negative in years where index was a .3 & .9% positive? 2018 is showing a negative 6.34% when index had a positive .9%View attachment 8341
Mike Tyson said, "fight plans are great...until you get punched in the face".
It is kind of like premium finance illustrations they look great until..........
Dang Allen. You want me to actually work and investigate this pos product... lmao. jk
OK. You are correct. Its a fee not a spread.
But the policy still has a 0% index floor. Without that, its a variable policy not an indexed policy.
Look at 2008. Index is negative, and the negative returns shown are exactly the fees charged.
So the index floor is 0%.
Then the poilcy has a 7.5% fee.
Then the policy has normal COI/Policy Load/Admin.
So -7.5% is not the worst case, its -7.5% plus policy costs.
That is a gigantic amount of risk transfered to the policy owner. Great for Pac Life!! Their marketing dept are f*cking geniouses in the worst way possible.
Ok, I am back to feeling better about myself in my understanding.
Wasn't there talk of an AG 49B for IUL illustration because of the belief that these products were somehow deceptive to consumers, especially because so many agents still use the talk of not losing any money related to index, etc.
Funniest part is agents licensed to sell insurance of any kind in CA have to have their CA license number in legible font size, but these marketing promo documents & illustrations can discreetly hide the fact that your policy could lose 7.5% minimum in years where the stock index was flat
Wow. I cant get over that Pac Life index switcheroo. What a FU to policy holders!!
Ive seen and heard about some sh*t in this industry. But SUPRISE, WE ARE CHANGING YOUR 0% FLOOR POLICY AND NOW YOU ARE AT RISK OF A 7.5%+ LOSS EACH YEAR!
Happy 2023!!
What a horrible thing to do to policy holders.
That is a guaranteed class action suit. Write it down, mark my words.
Allen needed a magnifying glass to see that fine print about a 7.5% Fee!!
But the person that posted the info sure seems to like it. Do you think the poster:
A. Isn't aware
B. Believed only what told by upline or wholesaler
C. Doesn't look that deep into details to know the recipe
D. Knows & doesn't care because it helps close the sales
E. Poster is an up line or wholesaler
F. All of the above