I will tell you that the business model of WFG is NOT a scam. However, if you are looking to make money in the financial services industry, there are better places to do it. In Part 2 on my opinion of the World Financial Group, I bring in Caleb Guilliam to discuss World Financial Group further.
28 - Doug - with UL you are self-insuring, 15 years, option 1, max fund it, the cost of insurance is next to nothing.
Garrett - he's saying the companys are being duped.
Garrett and Chris - MEC Issues, Legal Line, 5 pay, up to the guideline, it illustrates really well, but not the actual performance, COI, NAAR, what have companies done in the past, show us an inforce illustration,
30 - Doug - Life Insurance = Sacred Cow, 1980 - UL wasn't created by an insurance company, it was created by a - EF Hutton,
2023 1004 - LIFE180 - Indexed Universal Life Insurance Will Get Crushed Over The Next Decade - [VIDEO-YouTube-41:54]
Levers
IUL - Traditional UL with an Option Strategy
5:00 - P1P2 - [Bonk: Nope]
07:30 - Pricing of Product-?
Lever #1 - Administrative Charges
Lever #2 - COI
Lever #3 - Riders
Lever #4 - Cap Rates - Riles up people
Expectations - criminal - max fund - performance -
not bad products, bad sales presentations
Lever #5 - Loan Rates
arbitrage
Examples - Nationwide =
21:00 - "curtis ray" "mutual of omaha"
41 - iuls blowing up soon, i just want to be the guy who calls it,
43 - Doug Andrews - double their money in 7 years....he sells transamerica, paclife, teaching agents, rule of 72, he doesn't consider cois, ets. fraud, scamming the people they love and care about. [Bonk: 1993 - GOV (Senate) - Jerry Keating, Agent - John Hancock]
47 - 60-75 yos are Dougs target market. nobody would buy it if they understood...levers ... [Bonk: 1970 - GOV- Denenberg]
50 - wfg - rings and awards
52 - context of questions ----- [Bonk: cost / works /Anna Rappaport]
7 - chris - iul = fraud, patrick kelly - tax free retirement, people vs product,
9 - chris - don't know what you don't know. fraudulent components, 11 - i don't want to manipulate people,
16 - transameria parent - higher commissions
29 - oneamerica - iul white paper -
37 - how iul works - math - 1913, federal reserve, banking cartels, whole life insurance, tax rules, wealthy people, doug andrews tamra, tefra, defra....
59 - Doug Andrews - Cry Baby - listening to him almost made me puke. Think like a bank. Double your money in 7.5 years. predictable 8%. There's lies and half truths.
2023 1124 - LIFE180 / Chris Kirkpatrick - Indexed Universal Life (IUL) 101 Reaction - [FFL] --- [BonkNote] --- [VIDEO-YouTube-44:41]
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,
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.
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, capone, 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
loans / death -
38 - chris - loans / taxes / are they dumb, naive, intentionally selling it, borderline criminal,
40 - ffl - cash value pays for the
42 - p1p2. screaming home run,
43 - chris - replacing 401ks, the blind leading the blind
18 - National Life Group - Used to be Business Director, sore spot, shift the risk from the company to the the policyholders, IUL, Going away from being a Whole Life Mutual Company, NLG = #1 IUL Sellers in the Country, Trash product, Bottom of the Barrel as far as quality.
31 - Illustrations don't matter on IUL. Illustrations are simply Unicorn-land. If you think IUL's have any chance of performing the way it's illustrated I've got another thing coming for you.
IUL Challenge. They are not going to perform the way that they are illustrated.
Regulations don't allow.... Conservative....
Show me a policy that has performed.. over the last 10 years.
Bull Run
What's going to happen over the next 10 years.
WL will outperform IUL over the next 10 years.
Agent comment - Shameful for selling IUL
Chris - Don't feel shameful, just learn and do better. me too. Sold it for 4 years
Penn Mutual and North American recent White papers.
That's a joke.
Crediting Rate vs actual policy performance, that's the key. Need to look at actual policy performance vs index performance.
IMO's
35 - Why is WL going to outperform IUL?
P1 vs P2, Flow of Money
42 - Favorite WL - Lafayette Life
Then - OneAmerica, MassMutual, Penn Mutual, Guardian
43 - Relocating to Dominican Republic, Cash Flow Hacking Fund - Private Equity Fund, Buying a Hotel, turning it into a retreat center.
Agent.life180.com - Matt , Agent Training, used to work with a WFG, FFL type company, Live Trainings every week for our IMO Agents.
2023 1230 - LIFE180 - Is Cash Value Life Insurance Misrepresented On Social Media? WL & IUL - [VIDEO-YouTube-26:06]