The Reason 10/90 Whole Life Policies Are NOT As Good As You Think

The Reason 10/90 Whole Life Policies Are NOT As Good As You Think.

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📖 Chapter Timestamps Here ⏰
0:00 Intro to 10/90 Whole Life Policies
1:20 The lifecycle of a whole life insurance policy
2:00 A look at. a10/90 whole life policy
4:50 You will need to buy a new whole life policy
5:55 3 Whole Life Insurance Policies Are NOT As Good As One
8:40 The Reason People Love 10/90 Whole Life Policies
9:55 The Reason I Love Doing Front Loaded Whole Life Policies
14:50 10/90 Whole Life Policies Have Less Cash Long Term
16:45 The Best Whole Life Policy In The World

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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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[LMC]

He's not comparing similar funding. One starts w 10-20k funding then his "better" plan is front loaded with 60k. He is being intentionally misleading. And then he goes on to say that you can't dump money into a 1090 which is just inaccurate. He intentionally compared a front loaded plan to a plan that wasn't front loaded because it was the only way he could even get close to making a point. This guy is chasing higher commission while saying it's about flexibility to fund more later. He could have put a 20yr term rider on there to keep higher funding longer in the 10/90 but he intentionally didn't do that. Then he down plays stacking policies without explaining why stacking 10-90 policies will out perform his "better" policy. He's is manipulating this scenario in an attempt to keep his commissions high. The difference in the end cash value is 100% attributed to the additional 40k dumped in at the beginning. It has ZERO to do with policy performance. That same 40k dumped into a 10-90 would blow his "better" plan out of the water. I would not sleep well knowingly doing this to people without showing them a true apples to apples comparison and letting them decide what is best for their goals and their family.

[maxpruger]

You can absolutely do a large upfront dump-in with a 10/90 policy.

[firecraig]

How do they show a dividend year one???

[Tobarja]

We are not amused. It is very disingenuous to compare a policy starting with 20k dump in vs 60k. Using a dump-in seems to change the way you would build a policy. My Mass policy, without a dump-in is illustrated at full 10/90 for the first 15 years, dropping to 15/85 after that.

[mattehlen]

Do you have long-term performance data comparing 9010 to 6040 in addition to illustrations

[ghostoferlock]

A few thoughts and questions for you

You have mentioned about Doug Andrew front loading an insurance policy for a better commission, and then indorse it for a whole life policy.

There are a few different types of insurance policies, and they can all be good, why not offer suggestions for how policies can help the clients ?

Why do you suggest an opportunity fund ? If people wait for one, they either miss it because they don't see them, or they are too greedy and want better.

With different types of insurances, it's often said of moving parts and costs, why do you keep suggesting the low returns of whole life, when a universal contract offers better returns ? To straight out take lower returns, wether or not you want to call it an investment or not, is still lower returns.

Why would you suggest buying a whole life policy for the security, when it's possible to purchase shares in insurance companies and banks ?

You say that agents don't know how to structure insurance properly so it doesn't collapse policies, how about you explain how to, and also how to structure them for good returns ?

I think teaching people how to structure their investments would be helpful, as there are so many options, are you just going to talk about whole life most times ?

I don't watch all your videos, but some. Did you suggest to viewers in the last while that they might want to look at locking in interest rates before the increase ?