Simple IUL's for Dummies . . .

Jul 3, 2018

  1. myinsurebiz
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    myinsurebiz Guru

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    All my upline / trainers off for the week. So - ask a few questions here . . .

    1) what is a "blown up" IUL? What causes it?

    2) What is a 0% Floor?

    3) What is a Cap and why?

    4) Base?

    5) Target?

    6) Say that Joe puts an extra $50 each month into his policy. Is that $50 subject to risk in an IUL?

    7) Distributions? Mandatory? Can a policy be just for Death Benefit without having to take income?

    8) Is an IUL like WL in that so long as they make premium payments every month - can't lose coverage?

    Scenario:

    A very healthy 30 y/o wants a 30 year $million$ Term with Living Benefits. He also wants to start a $25k IUL so he will have adequate death benefit when the term expires. He is a single dad of 10 y/o twins. He makes $1000 a week gross.

    How should the IUL be designed in this case?

    TIA
     
  2. GreenSky
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    GreenSky Guru

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    Once again you’re all over the map with insurance. I thought you had everything worked out and starting last April would be open for business.

    Maybe if you learn to sell one product you’ll finally be successful.

    Rick
     
  3. myinsurebiz
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    myinsurebiz Guru

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    I'm successful and profitable . . .

    Facebook is generating leads for the 30 - 50 peeps that don't need Final Expense.

    So - might as well learn to sell what peeps want . . .
     
  4. DHK
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    DHK "YOU CAN'T HANDLE THE TRUTH!"

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    "Dummies" shouldn't be even attempting to sell IUL.

    IUL is a complex product.

    I will contribute this article for your consideration:

    Why the Middle Market Loves IUL
     
    DHK, Jul 3, 2018
    #4
  5. myinsurebiz
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    myinsurebiz Guru

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    Thanks - nice read and learned a few things.
     
  6. Embraerjetpilot
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    Embraerjetpilot Expert

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    It is sad that people who come here and ask simple questions are constantly bashed.

    He probably doesn’t need to be writing an IUL without guidance and support. He came here to ask experienced agents for some help and he gets insulted.

    Sad.
     
  7. rousemark
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    rousemark Still Here!

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    There is more to what was said than meets the eye. If you will take time to read some of the OPs other threads and you will understand and perhaps not be so quick to criticize others the next time.
     
  8. myinsurebiz
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    myinsurebiz Guru

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    Thanks for the defense. However - i bring most of it on myself . . .
     
  9. myinsurebiz
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    myinsurebiz Guru

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    Now - to take all those ideas and put them to use in everyday sales by knowing how to design the IUL . . .

    Like the Grandma college funding concept ;)
     
  10. JJ2713
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    JJ2713 Guru

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    Happens all over the forum. Happy to see someone else feels the same way.

    There is something wrong with the majority of humans. Humans like to put others down to make themselves feel better. And it's amplified on the internet because of the anonymity (cowardice as well).

    Don't know why I'm responding to your post as I came looking for IUL info...

    I've asked many questions and gotten insulted for no reason as well. Just a shame.

    I wouldn't be surprised if I got insulted for writing this post. I fully expect there to be a rude and insulting comment after every post now. Isn't that just sad?
     
    JJ2713, Nov 7, 2018
    #10
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