49:00 - IUL - much cheaper than a whole life, Index Follows along the S & P index, if the market goes down it's not going to lose money. comparing term and IUL - 60-70 crowd.
51:00 - Higher whole life policy, multiple policies, 150k Straight Whole Life = $1,400 vs IUL = $400-500, Term underwriting,
3x Hall of Fame Producer and Integrity Partner, Calvin Wright, demonstrates how to successfully setup, present and close 20-30 IUL appointments per week.
1 premium = 2 benefits / buckets - 1) Death Benefits 2) Cash Value
3 - IUL - set up improperly - minimum funding - eventually the policy will lapse, hopefully stop paying premium at some point, even if you continue to pay the premium, cost of insurance. maybe better off doing a term. "Whole Life" - IUL.
Bridget - Living Benefits - Most people are using IUL's for Retirement.
Example- $250 per month - $100 to pay for COI, $250 to Cash Value
Cash Account same for IUL and Annuities
7 - Caps, uncapped, now - Best Cap right now is 12%
8 - Guy - Dad lost money. Worst case scenario in IUL is 0. Index products are going to outperform the market.
Bridget - Can't lose money, Lock in the gains every year.
Guy - ⇒ Story - Can't lose money, Never gonna lose a penny. I'm not licensed to lose you money.
11 - Cases - Tax-Free Retirement Concept (LIRP) -
12 - Bridget - Majority of our focus is for the Cash Accumulation. How does that actually work? Very specific method. Very specific Loophole - Policy Loans. Not a withdraw, on an Annuity it is a Withdrawal. Policy Loans = Living Expenses. Low Rate for loans. Policy was built to self-sustain. Not taxable. You are never going to pay back the loan.
14 - Guy - Car Loan Example
14 - Guy - Do I ever have to pay it back?
Retirement Example - Illustration
What happens when I die?
15 - Bridget - Lapse Example - Poorly Build Policy - Cash Value Disappears - implodes - cancels -
16 - First and foremost IUL is a Life Insurance Policy
Don't get cash value and death benefit, just death benefit.
Guy - Worst thing is the policy lapses. You don't owe the loans in the end,
Bridget - Don't owe the company anything, using your cash value for the loans, Cash out policy
Guy - Premium - to 1) COI and 2) Cash Value - IUL = Screaming Home Run for a product.
Guy - How do people reach out to you?
20 - Bridget - Agent job is to identify need. Our job is to help them structure the policy. - Ask A Specialist - on website - Transfer info to Bridget - Our job is to keep up to date about products, regulations, etc. I send you back the one. I help you with understanding the product. Therefore, agents don't need to know everything. Firelight Portal. We underwrite it so it gets approved faster at the underwriters.
2021 03 - Grow Family First Life - FFL - FFLAMS IUL 101 - Global Atlantic, Nate Geurkink, Vice President of Business Development - [VIDEO-YouTube]
Platinum Partner, FFL
00:39 - Cash Value Account - Most common reason people buy it.
01:00 - Caps, ups downs,
03:00 - Reasons people buy IUL's
Retirement
Distinct Advantage of IUL's
No Contribution Limits
Tax Free Death Benefit
Tax Free Income - Seeds vs Harvest
100k to 1m
401k vs IUL
Tax rates
07:00 - Taking Money out [Bonk: Loans]
What are tax rates going to be in the future
Who Buys IULs? - Under 50, relatively healthy, Retirement Income, Tax Concerns, Life Insurance Need
Self-Employed, Biz owner, MD, High Income, Unsatisfied, Short Fall.
12:00 - Power of IUL
Example - 7.5% Illustrated Rate,
17:00 - Living Benefits
2021 10 - Family First Life - Why Everyone Needs an IUL - #2 Tax Free Income - [VIDEO-YouTube]
04:47 - "Do you have anything that acts like life insurance?"
"like a 401k, TSP, Cash under your mattress."
"Something that would pass to Mrs. Smith if you were to pass away."
05:30 - Is your Retirement Protected? Your 200k 401k.
Fixed Indexed Annuity.
Can Never lose money in the market again.
07:24 - IUL Discovery - Using an IUL to create financial capital.
Alternate Coverage - Act like Life Insurance - Consumer Answer = No.
Have you considered an IUL to supplement your retirement? - 60 Second Explanation
Death Benefit
Retirement money
One Premium pays for both benefits
Go back and accurately represent the product
2022 - FFL Agent Academy / @fflagentacademy9256 - Family First Life Product Knowledge Training - Complete Product Breakdown 2022
02:40-03:22 - 2 main types - Term and Whole Life. Everything else, you don't have to worry about it. WL - Like Buying a house. Permanent. not going to change. Rigid. Premium doesn't go up. Not going to go down in Death Benefit. Going to be there for the long haul.
04:40 - State Regulated - Pricing within a couple of dollars for similar benefits. Drastic different in price = Drastic difference in Benefits.
49:00 - IUL - Mutual of Omaha - Express - Indexed Universal Life Express
much cheaper than a Whole Life, more expensive than Term. Middle Ground. Follows along the S and P index. 5-6-7%. Not going to lose money. Example - 68yo, IUL vs 15-year term. Same Price.