Where Indexed Universal Life Insurance Works | Single Pay IUL

I am a massive critic of Indexed Universal Life Insurance - and for good reason. However, I have made comments that IUL's can work in certain instances. Many have asked "WHERE" those instances are. In this video, I interview Danny Rondberg who is an expert on utilizing Indexed Universal Life (IUL) to help his clients.

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@DanielRondberg

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📖 Chapter Timestamps Here ⏰
0:00 Intro to using Indexed Universal Life Insurance
2:30 Utilizing an IUL as a Single Premium MEC
3:55 What is a MEC (Modified Endowment Contract) with Cash Value Life Insurance?
5:30 3 Areas MEC's Help Retirees
8:00 Using Indexed Universal Life During Distribution Phase of Life
9:35 How to take risk out of Indexed Universal Life
13:20 Using IUL to Supplement Long Term Care (LTC) Needs
15:25 Why Use IUL and Not Whole Life Insurance
17:50 The Problem with the Life Insurance Industry
19:10 Long Term Care Needs Are One of Your Largest Risks
22:20 Connect With Danny Rondberg

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VALUABLE CONTENT TO CONTINUE THE EDUCATIONAL JOURNEY:

How To Properly Structure A Whole Life Policy

Indexed Universal Life vs Whole Life - Which is Better

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🤔 ABOUT LIFE180 😃
Chris Kirkpatrick launched LIFE180 as a solution to a problem. As the director of business development for a Fortune 1000 life insurance / broker dealer, he became disenchanted with the financial industry because of the lack of education provided to clients and how "financial advisors" were really just glorified sales people.

So... LIFE180 was launched to help give relevant financial education for people to create wealth. Along the journey, LIFE180 has evolved. Chris quickly realized he was passionate about not just helping entrepreneurs on how to leverage their money, but how to build their businesses.

Over the past 5 years, Chris has spent thousands of hours mastering the art of online business development for himself and clients. In 2020, LIFE180 morphed into a full service online business launch and development agency. If you need any help creating more revenue or generating more leads online, LIFE180 can help.

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*All content in this video is for educational purposes only and is not to be interpreted as personal financial advice.

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[georgeessres]

I am about to join life180 and extremely excited about it because you focus on educating the agent which ultimately helps the client and their financial well being for the future, is this training in the skool training?

[zjoirfe]

My financial advisor has suggested that I convert an inherited IRA into a IUL policy for retirement income, LTC rider, and wealth transfer. Are there are any pitfalls I need to be aware of or specific questions I need to ask?

[johnheine]

What is the typical range for the single premium policy? Is there a minimum? Does it still work at the minimum amount?

[xentaatnex]

"If structured properly" whatever that means.

[roberthoward]

I heard that with life insurance in general and IUL specifically if you are sued it can't be taken and if you divorce as long as it isn't set up to be split up then it can't be forced into a settlement. Is that true?

[dannyfinancial]

What is the name of the carrier with the return of premium?

[juancardona]

IUL, finally listening the real purpose of it, it’s also a good tool depending on client needs.

[maribelgonzalez]

I was hoping he was going to illustrate how to do it. I'm gettinnt started selling IUL coming from Term only and would've loved for him to show how to do it.

[Seccheus]

So you are supportive of the IUL. This is the video I was referring to. From the one sided conversation and title.

[TheMoneyRecipes]

This is coming from myself who chose to become an IUL specialist and can work with 50+ companies and have called carriers to learn from, spent countless hours illustrating scenarios that were outside of the box and I have thought of this as well.

Example would be instead of an FIA, do exactly this and intentionally MEC a policy to “turn pennys into dollars”

and I must say thank you for this. I’ve actually done deep research as well on this and have been trying to see how to add this strategy to my skill set.

What I’m getting on my illustration system for a 70 year old with return of premium and surrender enhancement rider is if I did a $100, 000 lump sum with a $200, 000 DB, it lapses in 17 years.

Wouldn’t it be wiser to find a LTC specific product to turn that $100k into a $303, 000 LTC benefit if activated after 6 years?

[juanenriquerod]

how can i get in toch with this gentlemen for training i really love

[leoneltirado]

Ok so this seems great for someone in their 60s, so in what situation what it make sense for someone in their 30s?

[sheriralli]

I’ve never even considered this! Great 😮

[acjenings]

I just want to know what carriers you recommend for the spiul and other products here

[kbunky]

Wow awesome video great to have Danny on your Life180 team . Great information and service to viewers . Have a blessed day you guys

[JoseHernandez-rvwk]

I am 66 years old and never had a life insurance plan. Have been thinking about a whole life plan that I could set up as an infinite bank. I am currently working as a truck driver because I just can't afford to retire and make about 40K a year(plus or minus). I am collecting S.S.I. which helps a great deal .I receive the maximum amount because of my oil field background and have a decent pension that l will receiving very soon. Could you please recommend a type of policy that would get me started in the right direction. I saw one of your videos where you talked briefly about a premium dump to get to a point that would allow me to borrow against the policy in a shorter period of time, if need be. Because of my age, would that be a feasible route to take?

the max,

[jonathanmgoodman]

Could the loans be tax free for a MEC if the loaning agent is a bank or their party that uses one’s policy as collateral?Essentially a cash value line of credit from a their party and not the insurance company.

[dannyrondberg]

Chris! Thank you for having me on the channel! What you’re doing is so important for the industry! I really appreciate you being objective on this topic. I think you’re really bringing true value to this space.

[patrickdavenport]

Why not use whole life in this instance?

[PinoyMnemonic]

Why this strategy can only be useful at 60+ and not during accumulation stage?