Social Media Misleading Folks on IUL products

[Chris]

From scare tactics, to just straight up lies - what are some things you're finding that potential customers are misled on?

I always love the infinite banking being explained in less than 20 seconds. They come off as experts to be trusted, but quickly the comments blow up with folks arguing the logitics.

So what do you think? Are content creators just creating junk to get comments/interactions to get caught up in the algorithms to get more views?

TikTok, YouTube videos mislead viewers on life insurance, critics say

The rise of so-called “experts” using half-truths and polished scripts to peddle life insurance on TikTok and YouTube is concerning to many.

insurancenewsnet.com

 

[Edwardfin]

"For me, there's a clear difference between marketing and selling. Posting a quick TikTok video to spark interest in a product is one thing, but what follows should be a genuine, educational sales process. For many businesses, marketing often means sharing just part of the truth to make their product shine. However, once interest is established, it's essential to clarify any misunderstandings and ensure the product truly aligns with the client's needs."

 

[insuredbyijm]

For the most part these social media posts quickly explaining benefits of IULs is used as a lead funnel for the creators (insurance agents). For some, they purposely just try to spark engagement within the comments to boost views. Overall, I think bringing awareness to this product is a good thing, however positioning a client in their best interest may not always align with an IUL policy.

 

[Sheryl J Moore]

The problem is that indexed life is being misrepresented in the vast majority of these TikToks (and there are YouTubes as well). Statements about guaranteeing double-digit returns, saying that these products are where banks invest their monies, suggesting that this product is how "people get rich..." This is an embarrassment to our industry. SMH. sjm

 

[scagnt83]

Most of the tiktok videos I see are making false and misleading statements about the product.

I agree with Sheryl, it's an embarrassment to our industry.

And immoral to mislead peoples financial future using those false statements.

 

[Sheryl J Moore]

I think that most of the people in the videos are just "paid actors." They aren't insurance agents; their job is to get leads to farm-out to licensed agents. sjm

 

[marindependent]

"Social Media Misleading Folks" on something?

No!!! Say its not so.

 

[psyberoptix]

one of the largest issues is that most big IMOs and companies are uneducated not teaching thier agents the proper way to illustrate and some companies (MOO) have such terrible yet "easy" to write IUL solutions that it's damaging clients. The other issue is captive agents that can't even offer said products are by and large tearing these terrible IULs to pieces muddying the waters for everyone... its crazy

 

[kpbdy99]

Half of it is dishonesty, half is agent ignorance.

 

[Sheryl J Moore]

one of the largest issues is that most big IMOs and companies are uneducated not teaching thier agents the proper way to illustrate and some companies (MOO) have such terrible yet "easy" to write IUL solutions that it's damaging clients. The other issue is captive agents that can't even offer said products are by and large tearing these terrible IULs to pieces muddying the waters for everyone... its crazy

I will definitely agree that the FMOs largely are not training their agents any longer. :/ sjm