Do I Have To Pay Back Loans On My Indexed Universal Life Policy?

It's a very little known strategy that many people aren't aware of, so let's answer the question: Do I have to pay back loans on your IUL policy? I'm going to explain everything about this in today's episode, so stay tuned and don't miss out on all the important details!

To your abundance!
Doug Andrew

Key Moments In This Episode
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00:46 My favorite vehicle
02:21 Borrowing
04:30 Let's say I retire at 60
06:10 When people have a windfall of money...
08:07 You don't have to wait 5 years

What To Watch Next
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Secrets To A Tax-Free Retirement

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Want to learn more wealth and life empowerment lessons from Doug?
Here are some next steps!
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How to Diversify and Create the Foundation for a Tax-Free Retirement

How to Lead Your Family/Business from “ME” to “WE”

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Music
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Song: LiQWYD - Glow (Vlog No Copyright Music)
Music provided by Vlog No Copyright Music

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Video by Nate Woodbury

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[ololo]

My mind is blown by this concept. Thank you this knowledge.

[sarojthapa]

It would be easy for us to understand if you could use displaying board or PowerPoint with numbers.

[timnealon]

Doug Thank You, In a "grandfathered" IUL, if the owner took out loans worth 1-2 million, then down the road put in like you stated here another 2 million how is he putting this amount of money in unless it's a "rollout" as you stated in a prior video? TY

[DDoggiee_YT]

Beautiful! But I don't have 2 million

[chuelor]

So you do not have to pay back the loan you take when borrowing from your life insurance policy. So I get that part, but this is where I'm confused on. If you never pay back the policy loan during your lifetime, is the amount deducted from the death benefit when you pass away and from your beneficiaries to repay the loan? Or are you saying the cash value compounds pay back the loan?

[erik]

The big question is what happens if the account stops compounding due to a market recession.

[dakotaeastham]

How do the loans work? Can you make contributions without paying the loan? And say you have a 10k loan but you’re account has 90k and something happens you haven’t paid the previous loan back. Can you take out another loan? And if so what are the stipulations?

[benette]

Not all do qualify for that IUL right? What if a client is not in good health and older? HOw can they buld their wealth with this IUL then?

[AKABV]

Is there a way to contact you? I’ve got questions not covered by your videos.

[garthcole]

this only applies to you if you had an Indexed Universal Life Policy before TAMRA, TEFRA, AND DEFRA were put into Law. That is the only way you can be grandfatherd in. So for most of us seeing this now we are SOL. For those of us who are new these laws do apply to us. TAMRA, TEFRA, AND DEFRA

[p.j.]

If the lender is 3rd party...no tax benefits for paying the loan...sorry.