IUL vs. Whole Life Insurance with Kim Butler

IUL vs. Whole Life Insurance with Kim Butler #Clip

#BetterWealth

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BetterWealth

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Caleb Guilliams

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[keithmachado-ppfv]

I am happy with my universal life policy. I bought it 20+ years ago when I was a single bread winner with young children so needed insurance. I also maxed out my 401k and could not contribute to a Roth so this was a way to get more tax deferred income while in top tax bracket. I maxed out the cash value and it grew at a fixed rate of 4% at a time when other risk free investments were paying less than 1%. The combined insurance and cash value now has a death benefit of $2m. I recently stopped many any payments. The cost of insurance does increase each year but the interest on the cash value is currently 3X the cost of insurance (it now pays 5% in the current environment) so my net tax free gain is 3%+ comparable to recent municipal bond rates. I recently decreased the insurance portion by 20% (the most they allowed without touching the cash value) and I plan on reducing it further as costs rise.

[Slacker]

Interesting, I have just signed up for an IUL because I am using it as an “investment” to borrow money against the future to help grow my wealth but are you saying that IUL fail because the premium is guaranteed to skyrocket by the end of my life span? Like what is the true risk if my money can’t go past zero on interest? Mine is set up as max cash value and min death benefit so the premium should never be more that what I could afford. Idk maybe I am unclear on the message of this video on why she is saying it will fail 90% of the time. Any way great content keep up the hard work.

[ericadawnb]

Can I contact one of you? I'm looking for someone who can structure a policy that will help me