One point I found especially interesting, discussed in the third paragraph of the fourth section of his review, is how the current illustration rules favor IUL policies over whole life policies.
In my opinion, IUL is a product that is sold by agents who do not fully understand it to clients who do not fully understand it.
It will be interesting to see what IUL promoters—insurance companies, marketing organizations, and agents—have to say about Witt's views.
2021 0122 - Insurance Business Concepts (IBC) Global - Why Life Insurance & IBC is NOT An Investment - [Scott Witt] - [VIDEO-YouTube-44]
Schemes
Compliance -
Opportunity Cost
2021 0528 - Insurance Business Concepts (IBC) Global - 7702 Law Change - An Actuary's Thoughts! - A Conversation With Scott Witt - [VIDEO-YouTube-36:17]
2022 0128 - Insurance Business Concepts (IBC) Global - Actuaries, Fiduciaries, Fee-Only, Insurance Advisors: A Deep Dive! - A Conversation With Scott Witt - [VIDEO-YouTube-50:42]