Millennial Wealth Creator
- 2024 0228 - Millennial Wealth Creator - Exposing The Biggest Lie About Indexed Universal Life Insurance IUL - [VIDEO-YouTube-16:24]
- Crappy Chassis - UL
- 6-9%
- 5 - 10%
- Ridiculous statements that IUL agents make
- 2020 1204 - Wealth Protection Lady - Kai-Zen Your Retirement - [VIDEO-YouTube-09:09]
- Comments
- 1 month ago - This is an incredibly risky strategy, beware!
- @WealthProtectionLady- 1 month ago - There is no risk. It's an IUL with financing. You can never lose money. However, I don't recommend Kai-Zen for most people mostly because you cannot touch your money for 15 years.
- @themillennialwealthcreator - 1 month ago -I'm sorry but are you serious? You're really telling people they can NEVER lose money?
- I wonder how many legal, company compliance, and ethics violations that one statement breaks.
- While I'm definitely not a fan of IUL, I wouldn't say to never buy one as long as you understand what you're putting your money into, which most people do not.
- And the reason they don't is because agents like you tell them they can never lose money and don't explain all of the things that can be changed and all the things that can go wrong with the policy.
- If you did, they likely wouldn't buy the policy.
- So, sell IUL if you want, but stop lying to people by telling them they can never lose money and that there's no risk in order to do it. Unbelievable.
- KaiZen - Going into debt to fund your IUL
- Would you Borrow to invest in your 401k?
- 8 -
- 2023 0319 - Haven Financial - IUL 101 with F&G - [VIDEO-YouTube-32:26]
- Comments
- themillennialwealthcreator - 1 month ago (edited) - 1:00 So to clarify, you can never lose money in an IUL? And 19:39 I'm guaranteed to not lose money in my IUL?
- havenfg - 1 month ago (edited) - If iul is structured properly you should not lose money
- themillennialwealthcreator - 1 month ago - I'm sorry, but with all due respect, how on Earth are you able to maintain your license making a statement like that? You're guaranteeing that people can't lose money in a product with a cost of insurance that increases every year, crediting based on the stock market going up every single year, loan interest that compounds against you when you take income. And you're seriously going to tell people that nothing can go wrong here and they'll never lose money? I'd be careful making statements like that!
- havenfg - 1 month ago (edited) - I see you’re looking to bait and joust. If you notice there were no absolutes spoken. Symantec’s will lead us around a merry dance so ask now and for all your root question to avoid playing verbal polka. I’ll give you 1 question. What is your root question
- themillennialwealthcreator - 1 month ago (edited) - Saying someone can't lose money in an IUL sounds pretty absolute to me. And that's not a "symantec." That's an extremely misleading statement that could cause someone to make a major financial decision based on wrong information. You already answered my question. I'm just tired of agents saying people can't lose money in IUL's when they absolutely can. Can risk be managed by properly structuring? Yes. But that's a far cry from saying someone can't lose money in this thing
- havenfg - 1 month ago - Understood. The entire video is about properly structuring and IUL to ensure client does not lose any money. If properly structured, you should not lose any money at all based on past market performance. Our entire market system, economy and currency is dependent upon hypotheticals of assumptions. They are just certain assumptions that are given and others that need to be explained.
- If you’ve never seen my entire process, it’s foolish to assume that I allow my clients to make a decision on any funds without getting all the facts.
- Even if properly structured, and a war happens tomorrow any policy can still implode
- Making general assumptions is what this and all currency is based off of.
- So the real question is what assumptions are you telling your clients the illustration you’re showing is based off of and how old those assumptions serve or hinder the purpose of the policy they’re getting ? Even mutual funds in the safe is investments will crash, if a plane crashes into the world trade center again or if we go into a World War III or world war IV
- This video was not meant to be an exhaust pros on every minutia of an IUL. The title says it all 101.
- You are right though they are agents who incorrectly preach that it is not possible to lose money in an IUL and that is incorrect.
- However, before I walk into their house and put those agents on blast, it would be more effective to find out their process and under what assumptions they’re basing those statements. Educate where you can and let the hard headed ones alone.
- havenfg - 1 month ago - By the way, you’re incorrect stating the cost of insurance increasing annually for every IUL product. That is the case for a UL (universal life) but most of the good IULS (indexed universal life) products guarantee to lock in cost of insurance for about 20 years. The idea is “IF” the policy is properly structured 20 years later, despite the increased cost, the policy has generated enough momentum to pay the difference in cost yet still continue growing without skipping a beat. So much so that the client does not have to pay any more and still get the best of both worlds.
- The value of each policy is literally based on each agents ability to properly engineer the policy just like the value of each vehicle is based on the mechanic or engineer, who built it.
- themillennialwealthcreator - 1 month ago - Interesting. To clarify, are you talking about something like a 20 year term where the premiums are level, and then after that term, the costs go up based on the clients age and that's how the insurance works in the IUL? Or do the costs actually go up each year, but the company is guaranteeing that those costs will not be increased by a certain amount (like to the guaranteed highest rate for COI)? Do you have a video on it?
- themillennialwealthcreator - 1 month ago - I understand. I just have an issue with these kinds of statements because you can't tell people they won't lose money with something like this. You can structure and manage it to help reduce the risk of losing money, yes. But eventually, a product that's based on stock market assumptions is going to have down years. And if this thing is not managed very well, it can blow up in people's face when they need it the most (retirement). Sorry if you feel like I'm putting you on blast. But you made this statement twice in your video and like you just said in your previous comment, it's incorrect. At the end of the day, I just want people to know what they're buying, know that there is a risk of losing money, and it absolutely needs to be designed and managed properly to have a chance of working.
- havenfg - 1 month ago - Got it. I think you misunderstood me. I stand by my statement. The statement is absolutely true in a long-term. Long term you’re not gonna lose if design properly and assuming the world doesn’t come to an end or something cataclysmic happens. That statement is only incorrect in the wrong context.
- The challenges you’re making conclusions off of your own predispositions and assumptions.
- BY LAW every IUL displays 3 illustrations youre req’d to show to cliente. By default you educate them and all three.
- The guaranteed, the moderate, and alternate return. So the clients getting entities should know all possibilities. Your questions indicate you’re not the most familiar with IUL’s. If you’d like to chat on the phone about it or get on the call feel free to reach out to me direct so that you’re a bit more educated on the variations on your crusade to correct your perceived inaccuracies.
- themillennialwealthcreator - 1 month ago - Okay. Hope it all works out for you and I hope your clients never lose money like you promise them. Gonna get back to my "crusade" Best of luck and thanks for the dialogue
- havenfg - 1 month ago - a man convinced against his own will is if the same opinion still. - Wishing you the best on your crusade
- themillennialwealthcreator - 1 month ago
- - Have common sense - be careful - no risk - can't lose money