We all know IULs are a ripoff

[phoenixlord]

a no lapse IUL

No lapse is only good for 15 years in IUL. There is a no lapse UL but no no lapse IUL. You can design so that the IUL doesn't lapse even in the guaranteed column which has max expenses,min credit by selecting CVAT method(DB will drop if resorted to max expenses) but other than that there is no no lapse IUL. Can you shown an illustration? IUL is a horrible product for max funding or min funding. Risk has been transferred back to the policy holder.

 

[HoosierLife]

To be fair, the Equis', FFLs and Symmetrys push IUL like it is God's gift to safe investment. I know an ex-symmetry agent and I tried to explain the differences between IUL and WL and the real reason he prefers to show IULs is because you can illustrate them much higher than a WL product.

That's shady.

90% of those agents have no idea what they're doing and the other 10% do and just don't care.

You should take this argument to our Facebook Group @phoenixlord

There are 6500 agents in there that will argue with you until the end of the world on this topic.

The regular posters on this forum, for the most part, are sharp and know 100x more about the product they sell (and don't sell) than the average agent out there.

So start this in our FB group and keep it clean(ish).

 

[kpbdy99]

I have a buddy who loves to sell IULs. Every week there's a hot new product with higher caps, incredible new indexes, slices & dices, changes your oil, etc. He'll want to go over how they work, and usually my eyes glaze over about 15 minutes into the pitch. Maybe I'm just not smart enough, but these things scare the hell out of me. I'm not going to put a client in anything that's not guaranteed, period.

 

[Allen Trent]

No lapse is only good for 15 years in IUL. There is a no lapse UL but no no lapse IUL. You can design so that the IUL doesn't lapse even in the guaranteed column which has max expenses,min credit by selecting CVAT method(DB will drop if resorted to max expenses) but other than that there is no no lapse IUL. Can you shown an illustration? IUL is a horrible product for max funding or min funding. Risk has been transferred back to the policy holder.

You are wrong again. There is no lapse to 120 on protection focused IUL. Again, not my cup of tea because I don't like seeing 0s in my own policies. However, just like GUL, they can work for some clients that want guaranteed face, CIA, 2nd to die for estate/special needs/business-farm equalization, especially for those that want to short pay the no lapse guarantee premium.

 

[Allen Trent]

No lapse is only good for 15 years in IUL. There is a no lapse UL but no no lapse IUL. You can design so that the IUL doesn't lapse even in the guaranteed column which has max expenses,min credit by selecting CVAT method(DB will drop if resorted to max expenses) but other than that there is no no lapse IUL. Can you shown an illustration? IUL is a horrible product for max funding or min funding. Risk has been transferred back to the policy holder.

not sure why I am feeding the troll, but I guess I am hoping after you being corrected a few times on some details, you might at least admit it. Here is a $300,000 protection focused IUL with No lapse protection to age 120 for $1339 per year for 35 yr old.

Not saying this is a better deal or not than GUL or WL (like I prefer), just pointing out that you are wrong that IUL can only be no lapse protected for 15 years.

 

[Tahoe Ray]

I'm not going to put a client in anything that's not guaranteed, period.

You mainly post in the LTC forum. Do you only sell hybrids because traditional LTC certainly isn't guaranteed?

 

[phoenixlord]

You are wrong again. There is no lapse to 120 on protection focused IUL. Again, not my cup of tea because I don't like seeing 0s in my own policies. However, just like GUL, they can work for some clients that want guaranteed face, CIA, 2nd to die for estate/special needs/business-farm equalization, especially for those that want to short pay the no lapse guarantee premium.

not sure why I am feeding the troll, but I guess I am hoping after you being corrected a few times on some details, you might at least admit it. Here is a $300,000 protection focused IUL with No lapse protection to age 120 for $1339 per year for 35 yr old.

Not saying this is a better deal or not than GUL or WL (like I prefer), just pointing out that you are wrong that IUL can only be no lapse protected for 15 years.

Yeah, yeah this is a Guaranteed IUL, another variation of GUL + IUL. That Guarantee is a contractual secondary guarantee which must be exercised at age 65 and it's based on cash value at that time.

Again my question is Why? Why all these exotic options? Which have never been really tested.

By calling me a troll, you have lost whatever little respect I had for you. If you can't extend professional courtesy to another knowledgeable agent, what do you care about your clients? Unlike you, I am not here to recruit agents on this website. I am sorry I made a mess for you but people will forget this in an week and you can go on making your sales pitch about IULs and the party will go on. This is like the year 1999 before the dot com crash. Good day sir!

 

[phoenixlord]

I have a buddy who loves to sell IULs. Every week there's a hot new product with higher caps, incredible new indexes, slices & dices, changes your oil, etc. He'll want to go over how they work, and usually my eyes glaze over about 15 minutes into the pitch. Maybe I'm just not smart enough, but these things scare the hell out of me. I'm not going to put a client in anything that's not guaranteed, period.

That's how agents should come out and say it. As long as people like the other guy who liked this post continue the game, IULs will not die. On one hand, they agree it's a bad product but continue saying "right design", "right circumstance", "right client". No one deserves to be put into IULs whether they make 40 grand or a million a year.

If your clients want to go to a casino but there is a lock down in place, put them in these exotic IULs and elect daily point to point index. That will be even more fun

 

[Tahoe Ray]

Unlike you, I am not here to recruit agents on this website. I am sorry I made a mess for you but people will forget this in an week and you can go on making your sales pitch about IULs and the party will go on

Seriously? Just read his posts to you. He doesn't even sell IUL (nor recruit to my knowledge).

 

[Allen Trent]

Yeah, yeah this is a Guaranteed IUL, another variation of GUL + IUL. That Guarantee is a contractual secondary guarantee which must be exercised at age 65 and it's based on cash value at that time.

Again my question is Why? Why all these exotic options? Which have never been really tested.

By calling me a troll, you have lost whatever little respect I had for you. If you can't extend professional courtesy to another knowledgeable agent, what do you care about your clients? Unlike you, I am not here to recruit agents on this website. I am sorry I made a mess for you but people will forget this in an week and you can go on making your sales pitch about IULs and the party will go on. This is like the year 1999 before the dot com crash. Good day sir!

the reason I said troll is you are not reading any of the responses or acknowledging when your statements are incorrect even after you see the facts. I don't recruit at all. I work for a captive multi line carrier in corporate office & we don't even manufacture an IUL. I am merely a student of the business & have told you numerous times I don't sell IUL & generally don't even like it, but I wont bash it when it appears to have been purchased by a client with full understanding of what it is & what it isnt

So again, another post by you in this thread that is flat out wrong after you have already read the statements.