Universal Life Insurance Policy: Everything you need to know / Garrett Gunderson

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Video host: Garrett Gunderson
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DISCLAIMER CONT'D: Garrett Gunderson is not a licensed financial advisor. He is an Entrepreneur, Wealth Strategist, and Author of the New York Times and #1 Wall Street Journal bestselling personal finance book - Killing Sacred Cows: Overcoming the Financial Myths That Are Destroying Your Prosperity. He is not providing you with financial advice in these videos. This video, the topics discussed, and ideas presented are Garrett's opinions and presented for entertainment purposes only. The information presented should not be construed as financial or legal advice. Always do your own due diligence.

[mas]

Ul wasn't built to maintain a high DB its meant to be structured using Max premium minimum DB doing so your really under paying for COI and avoid over paying as you age

[wheredalambo]

SO what would be a newer policy that is more beneficial for young people?
any resources?

[cobraralph]

A well-designed IUL is the key and is extremely effective in building tax-free wealth while also protecting your life, assets and health care cost. Make sure you have an agent that is a master at understanding the intricacies of an IUL and has sufficient experience in designing them.

[prodson]

Oooohhhh I just saw your ad for your wealth factory. So I have to purchase your product. That makes sense now

[financialownership]

11:36 Well when you take a loan on a policy you have the option to take a fixed loan say 3% and the company will charge you the same amount. You can also use a participating loan where you can get full exposure to cap and floor. It is much more flexible than whole life and you can get a fixed account just like whole life. The problem isn't the product its just how most agents structure it. It can be the best thing you own or the worst thing you own.

[Visionary]

I'm a big fan of Garrett Gunderson, BUT I'm also an even bigger, loyal fan of DOUG ANDREW, and his proven methods regarding max-funded, Indexed Universal Life (IUL) insurance. I have reviewed Doug Andrew's case studies closely, and spoken to some people who have used them. It is my professional opinion is that Garrett's presentation of this topic is well-intentioned, but flawed. These two are saying the equivalent of if someone structures a real estate deal wrong and loses money, that ALL real estate deals are therefore bad investments.

[leenaparwani]

Lower risk comes at cost and we see all kind of clients.... Some who understands and willing to pay for guarantee cost and some sees lower premium. UL is way better then index UL. We also have to look at what is less bad for clients ....as most UL product do come with one or the other hanging risk ....

[trevorramos]

I don’t understand this because I just ran an illustration for a UL product with protective life and the premiums seemed level until the age I wanted the policy to end (95). I didn’t see anything about an increase in premiums. The catch was the policy had no cash value and if the customer missed their premium, they couldn’t rely on cash value to bail them out.

[DaveCraig]

There is an IULs that has no caps with a proprietary index that is well diversified to be very safe and has performed unbelievable in the last 10 years. They actually have raised the uncapped participation rate while other companies are lowering rates like you are referring. In addition, what about the fact that the cost of insurances is much lower and death benefit higher than a whole life to start. How about comparing the cost of insurance as a lifetime cost? The gains can very well offset that. Also, if you have a great company, that is a mutual company, their job is to keep the cost of insurance down. The same company that offers the best IUL also offers whole life.

[juanvelazquez]

If it's an indexed/participating loan then the NAR does not increase, it's like the loan never happened.

Standard loan will decrease the DB by the loan amount so the NAR would be the same.

[rickyorick]

If Set properly to benefit the client, it does not Fail, its just a smaller commission for the Agent

[asterisk]

You simply have to know what you're getting. A lot of investors in real estate syndications like to use indexed universal life policies as a place to park cash between real estate deals, and they explicitly compare those insurance policies to savings accounts, not to investment portfolios.

If your goal is to benefit from long-term stock market gains, then obviously these guys are correct: eliminating the downside and eliminating the cap, i.e., by just investing directly in the stock market, would generate better returns.

[laughatmewithmebymeornotla]

the IUL and the Maximum funded IUL insurance contract are the same or do they work differently??? Can you have an IUL tax-free...??? all the way around...???

[tonystorcke]

The arguments against Universal life don't hold water. As long as you know what you're getting, enjoy your universal life.

[WealthWisdomFinancial]

I’m really worried of the sequence of returns risk and the increasing cost.

[mas]

Insurance company's don't have the ability to change the COI as their based on CSO tables

[Simonsaysboxing]

Good video but neither of you said anything about an income rider included in an IUL. Hmm..

[marilyn]

UL policies are just awful. So glad we are not offering them anymore. I have to explain to customers everyday why their policy is not going to reach maturity unless they increase premiums or lower face value after they have been paying into this thing for 20 yrs. Highly faulty poorly designed product.

[theelephantroomltdnetwork]

If iul are so bad why haven't they been banned bared or outlawed

[MartinTWaters]

Thank you Garrett and Todd, I could listen to another 8 hours on this topic! Being a life insurance agent myself and have sold some IUL's including my own. I'm finding these policies are unbelievably complicated as you both agreed and the contract expenses are incredibly high with some being 3 to 4 times higher than the policyholders indexing credits. I'm scrambling to explain how this is a good deal for them and when I call the insurance company to inquire about why, the answers are quite comical but not in a good way. Any other resources you could provide would be greatly appreciated as my skepticism with these policies is growing stronger everyday. Keep up the great work!