Indexed Universal Life vs Whole Life | The Main Difference

Indexed Universal Life Insurance vs whole life insurance for cash value use. That is a strongly debated topic. In this video, Chris Kirkpatrick breaks it down and make it common sense.

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📖 Chapter Timestamps Here ⏰
0:00 Intro to whole life insurance vs Indexed Universal Life Insurance
1:20 Why Choose Whole Life Insurance over Indexed Universal Life Insurance?
2:55 The Contractual Differences of Indexed Universal Life and Whole Life Insurance
4:30 Contract Law, Business, and Cash Value Life Insurance
8:05 Indexed Universal Life Insurance Companies Are Intentionally Manipulative
9:45 Most IUL Agents Are Trying To Do Right - They Just Don't Know What They Don't Know
11:45 Rescue My IUL Challenge and #IULchallenge

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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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[timothythompson]

You are one of the only people in the insurance space being honest about IUL. Good job.

[mariowhiteside]

Universal life insurance was created in the 1980s when interest rates were high, and this policy has a cash value like other types of permanent life insurance.

[mariowhiteside]

In 1979, the E.F. Hutton life insurance company introduced universal life (UL) insurance. It was the first new type of life insurance product in over 100 years.

[gregwerthman]

Very informative. I was contacted by an agent/ contractor for Mutual of Omaha out of San Diego who works for the company insurance elevated. She sounds very knowledgeable but didn’t go into detail as far as the downsides of IUL’s. I haven’t agreed to the contract yet but I’ll certainly have some questions for her now. Thanks again.

[World-classoperations]

This was honestly the most informal video in regards for explaining a few details

[steveshepherd]

Great overview. I really appreciate your honest evaluation.

[jdiazsan]

Thanks for this, was in the middle of signing up for an IUL, something small, but was discouraged with the aount of time it would take to borrow on the death benefit. Would love to learn more

[KeyAir]

Im a Agent its not about manipulation from all agents. Depends on the age of the client Depends on the premium because at a certain age if they are paying a low premium theyre just paying for insurance that money isnt growing. Also Depends on how the agent wrote the illustration cause a agent can mess up a IUL.

[kriskris]

I have both IUL and WL policies and I secretly hope that both products do well, I want them to compliment each other, not compete..I had an interesting conversation with an agent a few days ago.

I told him why I signed up for both and did mention that IUL’s are fairly new, prob 20-30 years old but WL has been around for 100’s of years and his question to me was..Do you use a cell phone?I said yes, he asked me why was I not using a landline phone and using a cellphone..telephones were first used by people around 1880, cell phones only became popular 20-30 years ago..Just like cellphone is an evolution to landlines..IUL is an evolution in the CV life insurance space..If you want to use an older product with less flexibility in exchange for guaranteed growth go ahead..Landlines have stable connection, have a long histroy and are reliable..Cell phones drop connections, some research says the signals can cause cancer but people still use them for convenience..some older people resist using a cell phone and continue using landline phones..you are free to do it but calling Cellphone users naive is funny..

WL = Landlines
UL= regular Cell phone
IUL = Smart phones

CV life insurance policies will continue to evolve like any other product and future versions have to be better than older versions..

I am not an expert in the insurance space and don’t support one product over the other but I thought his analogy was interesting..I will stick to using both IUL’s and WL’s for now 😀

[usedevilthing]

Do you do a free look at IUL's I'm trying to get a projection done and want someone to look at it.

[TheTinaLoren]

Which whole life carriers do you choose for your clients

[thewoundedhealerremapintl]

Winning the money game requires one to know how money works. IUL was not created for death benefit. It was designed for living benefits. I am a recipient of accelerated living benefits due to chronic illness. WL was designed for death. That's why it is got a guarantee death benefit and a fixed interest rate determined by the company. IUL allows me to choose strategies based on the market indices. I disagree with you saying the company determines the interest rate. There is a 25 year historical evidence of 6%-11% interest rate.

[siulanainad]

PROVE ME WRONG.. if anyone has a WL policy and do any kind of stock option investment, Congratulations 🎉🎉🎉 You have something close to a synthetic IUL

[shawnmcintier]

On the IUL I can skip or change what I want to pay any more. You need to speak to all of the difference not just what plays to your bias opinion. You can’t skip or change the WL.

[shereseparker]

What about the laser fund with Doug Andrew’s

[charmwhysocharming]

It seems as though if you choose IUL then you should be prepared for change in order to fulfill the commitment and win. But what do I know I’m trying to figure it out. Because you’re right, people make it seem simple and safe.

[HumbleStudent-ptqy]

I have an associate that told me she likes to put people into an IUL and then at age 65 move them into an annuity ... help me understand that ..?

[jeffreykamke]

Great value as always Chris. I love consuming your non-biased iul content

[yodhangzien]

Fee charge and life cost increase, will it damage my policy later further future !!!

[devonmccarthy]

An agent told me that with the index insurance I can pay for 20 years and don’t have to pay beyond that and still have the benefits of as in cash value and my policy benefits remains the same