2023 0421 – Family First Life – IUL 101 – [Bridget Reimer – FFL – AMS – SRS – FFLAMS.com]

  • 1- Bridget Intro
  • 2 – Bridget – How to explain to new advisors
    • 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. 
  • SRS – Simple Retirement Solution – using 2nd bucket (Cash Value)
  • 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.