2023 1124 – LIFE180 / Chris Kirkpatrick – Indexed Universal Life (IUL) 101 Reaction – [FFL]

  • Ethos
  • 4 – cash flow – coi – 1 premiums – 2 buckets
    • Chris – art – term insurance – 50s-60s-70s- coi skyrockets
    • 7 – As long as you pay you premium
  • 8 – Whole vs IUL – IUL is not a Whole Life Product
  • 8 – cash value bucket – 1)
  • 9 – FFL – most iuls are being purchased as an investment
  • 10 – Chris / FFL – Minimum Premium, Minimum Funding, Target, Guideline Level Premium, Expectations – Target = Agent Commissions, Overfunding the Target Premium, Annuities vs IUL, same / different, Policy Performance, Levers, company’s obligations to policyholders / shareholders [Bonk: Dinallo], Underperformance, Illustrations, You can’t lose money in the IUL. Yes, you can. not compliant, caps, uncapped, 
  • 11 – IUL vs Indexed Annuity
  • 12 – Obligations of company – Mutual vs Stock
    • [Bonk: Dinallo]
  • 13 – You can’t Lose Money in an IUL
  • 15 – Chris – [Bonk: P1P2] – How IUl’s Work – 
  • Caps, Options
  • 19 – Chris – People aren’t going to know that they have a problem until it’s too late.
  • 20 – Can’t lose money on down years – Ex. 
  • Loans – 
  • 21 – Chris – Need to add in all the fees, cois
  • 15 – Chris – How IUL’s Work.
    • 19 – Chris – the challenge for people / retirees will come in 20-25 years.
  • 20 – can’t lose. no gain, no loss. just even.
    • Chris – loans are the problem
  • 23 – locking in gains
  • 24 – Chris – Performance, Long-term, doesn’t know what she doesn’t know. I used think how she thinks, I used to believe what she believes. Representing a lie. representing big IUL company.  
  • 25 – Chris – These guys know nothing about Whole Life Insurance.
  • 26 – Guy – Can’t lose money. Tax-free Retirement. Confuse clients. tax bill. taxes.
  • 26 – FFL – most IUl’s are sold for retirement.
  • 27  – Chris – Wheels fall of using for retirement.
  • 28 – FFL – Loophole = Policy Loan
  • 28 – Chris – it’s not a loophole, it’s the tax code, mislead people
  • 30 – FFL – Policy loan arbitrage, 
  • 30 – Chris – Ethos – Express Issue Policy – Ameritas, car to win, higher coi,
  • 32 – ffl – iuls built to self sustain
  • 32 – Chris – ag49 – multipliers, PacLife, lawsuits, illustration warfare,FBI, Vapone, actuaries poke holes in regulation,  realistic, unrealistic illustrations, history of iul, sad to see,
    • fold like origami – [Bonk: walker vs lsw – defects], too simplistic, [Bonk: Tom Sutton, Pacific Life] – gov
  • 35 – don’t pay back loans / death – arbitrage
  • 36 – language – too simple – 
  • 37 – LIRP Example – 
  • 38 – Chris – age 75 –  loans / taxes /  “properly structured” – are they dumb, naive, intentionally selling it, borderline criminal, 
  • 40 – ffl – cash value pays for the death benefit – don’t get cash value – [Bonk: SIV / CIV]
  • 41 – Simple – College Funding – screaming home run, 
  • 43 – Chris – sold as simplistic, marketing of IUL, replacing 401ks, the blind leading the blind,