Please and thank you

What country are you in? Same for me in Canada.

Sounds like you've been fleeced. Have you even read your policy?

This girl has no idea what’s she’s talking about lol

Thank you for this explanation! Now I understand how it can be beneficial! Yes I am very disciplined.

It's not an investment but it's helped you take advantage of investment opportunities. Like what opportunities?

Exactly! We understand it’s not the best “investment” AT FIRST if you’re only considering the death benefit. In years 2 to 3 though, the death benefit highly outperforms that of term life insurance for the rest of the policy life. But if you are looking to utilize this vehicle for other uses such as saving for investments, you can borrow against your money over and over without actually breaking the 4-5% compound interest growth that it receives overtime, so, it is very worth it. Yes, you have to be very disciplined, you have to be a good banker and pay yourself back. In that way, it is an advanced technique, not to be used by people who have not created the habit of saving or who don’t intend to use it this way.

Plus, it does not just depend on the stock market! I guess it depends on who your audience is, but I think it’s very silly to recommend that people put their money in the stock market where they have no control over the fluctuation instead of a policy like this, but of course, as I said, it is a very advanced investment strategy not to be used by people who do not Intend to save money in order to build wealth with it.

Whole life is the worst and most expensive of all the Life Insurance available. Consumers need to get the facts and do their own research!

Says the lying insurance agent.

​@@astroman30she's not lying, I offer both life and mutual funds, UITs,etc. This lady is not talking about all life insurances. Term shouldn't even be in this conversation along with whole life which is very expensive and doesn't have a sophisticated investment vehicle like IULs and VULs do.

Bro all of the insurance door to door salespeople getting pissy in the comments 😂

Can you give more advice and costs please.

So instead of calling her unqualified, is what she’s saying accurate or not?

If they are selling any form of cash value life insurance then they are scammers. Unfortunately it’s legal though because you didn’t read the contract during the free look period and cancel. The cash valve contract should be outlawed. The SEC went after VUL back in the day because by definition it was a security. IUL skates by being regulated by the SEC because it’s indexed

😂

What a world we live in. Can't afford to live can't afford to die🤣

That’s who I think life insurance is really for (me included somewhat). If ur already wealthy, u don’t Need insurance. And I don’t know Who’s paying That much for they’re whole life insurance. If that was the case, I’d just put that amount into an account for specifically that purpose, and move on.

i feel sad reading ur comment. (what u said is same for me too but i don't feel anything for me knowing that but reading ur comment made me emo lol. hope u have a good life ...or more happy n peaceful moments

Actually life insurance is a scam, the value of your money will be depleted by the agent commission every month, so overall you pay a dollar for a cent, theres no value, its just a cliche that pyour love ones will get but in reality your love ones will get more if its invested to a time deposit

@@kawannahardy2924 exaclty. why put the money in somone else's hands if you can save it yourself? (save the money specifically for that purpose)

Irene you forgot to mention that with a Whole Life policy the insurance company keeps all your savings when you die and you also forgot to mention that the cost of insurance inside a whole life policy is also based on a term policy. A pure term policy is mathematical superior over Whole Life and even after looking at total cost on renewing a term policy up to age 95 it still beats whole life with less money out of pocket to be covered for the same period of time. And then consumers also need to understand that their need for life insurance should be temporary and NOT forever!

Exactly...and that's why a whole and term might be considered

@@jenninemorel7693 Whole Life is just term inside with some added features that benefit the life insurance company. So why buy 2 terms instead of just a single level term policy. The math proves that whole life is a rip off. Consumers need to do their own research before buying. Level term beats the Annual Renewable Term thats inside the WL policy! Just do the math on the increasing cost of insurance. Agents who sell cash value can say what they want but I teach my clients the simple math. Last time I checked Mathematics has not changed for a very long time.

Yes exactly, no securities licensed required to sell these products. Are you listening to an agents who is Life Licensed only about investment advice?

​@@PaulPNewell there's also VULs which are both.

@@davidgamez5476 VUL is not commonly sold today. Most agents in the industry only have a life license. But even though it is classified as a security the ART inside the policy eventually consumes all of the cash value and it becomes unsustainable for the client to keep paying the premiums after the cash value is gone. Consumers need to do their research on how money works and avoid cash value life insurance at all costs.

Facts!!! NOT ALL COMPANIES HAVE UPFRONT COSTS AND NOT ALL COMPANIES ARE EXPENSIVE. It is a GREAT option to build cash value if you are young then it’s cheap. Not use can use it to retire and it’s NOT TAXABLE WHEN YOU TAKE IT OUT. It can also be used if you are critically, chronically and terminally ill. *she does not have all the facts.

I was gonna say, my policy is only 150 a month and I can make that work in my budget 🤷🏻‍♂️

you obviously have a conflict of interest being an insurance agent 🤦🏾‍♀️

​@@vulpixelfulno she just has all the facts as an agent! Shouldn't we be experts at our jobs? Are u?

@@shaunimarie730 Always double check the facts of salespeople

That’s because the Wealthy have time to find this stuff out.. Regular people are out making the world SPIN

Research it where

What is CV? Please break it down for a toddler.

@@riifillCash Value

@@riifillCV is cash value that a whole life policy accumulates overtime! You can borrow out this amount at any time for any reason!

You don’t need a permanent solution to a temporary need!

IULs are garbage with high fees and capped gains.

@@astroman30 I agree with you 100%, there are also other issues with it like how the cost of insurance is calculated compared to other policies and your money gets trapped by surrender charges. So it’s both a bad life insurance and a bad savings vehicle

Get a better job.!🤣🤡

So true!

@@eb9873 what’s a better job career expert???

i want to know about it. how do i reach you please?

Blood suckers

You could've bought term insurance at a fraction of the cost compared to whole life with a higher death benefit.

​@@astroman30Term isn't for everyone. Term is truly a quick fix type of policy. No one really plans to die in 20, 30 or 50 years. Term policies are a good fit for some but a bad fit for most. That's my learned opinion as an experienced Insurance agent 😊

@@shelbybrown2732 And your "learned opinion" is wrong. You're coming from a sales background that pushes trash value insurance for bigger profits/commissions. Insurance is a RISK MANAGEMENT purchase, only. Buying term and investing the difference will not only save you money, but will make you "self insured" as you get older. Numbers don't lie: In a $500G DB example, the premium is $430 a month from age 40. Nick lives to age of 90. So with whole life insurance, Nick pays $430 a month for 600 months (50 years) total $258G. Dividend is $130 a year best case for 50 years on the premium paid, or $6500, for a cash value of $264,500. The alternative is to buy term life insurance with extended duration and invest the rest .. a $500G death benefit policy for a 30 year term would be about $60 a month leaving $370 available to save .. $370 monthly in the market at 7% (stock market lifetime average) in a tax deferred account gives me $432G after 30 years. I won’t need a $500G policy if I’ve got $432G cash in my account, so I cancel it, And for the next 20 years my account keeps growing at the full $430 a month. when I’m 90 the account is worth $1.9 million. Conclusion is clear .:. Do I want $264.5G (whole) or do I want $1.9 M (term and invest) for the same premium output .. I choose term and invest!

" It's bad to say my dad is a good investment." It's the reason I now hate my wife. She took out a policy of life insurance. I'm now worth more dead than alive. Well, I'm going to make the rest of my time with her hell.

Exactly ! Agents need a series 6/7 license to even say the word Investment. I don't call it an investment but an asset to have.

We actually make the same on both lol

Much less in the long run than your managed money account. Wake up and do the math

Residual > commission

And you work for free

Yeah, those terrible ppl getting paid to do a job… 😂

So is investing 9k a year in property that makes money for my family right now. Its a circular definition. But yes, depends if people intend to invest the money, although life insurance could be seen as a type of investment but far more circumstantial.

Well,I have state farm whole life insurance, pay over $100 a month for 5 years ,I called today and was told I have $259.90 I can use to take out.LMAO I'm canceling today and will invest that money on something with a real return.

Yes, if your term policy is up you will need to renew at whatever age, however, the theory of decreasing responsibility states that as you are younger you need more coverage because your debt is high and your children are young. As you get older, your debts are paid off and your children are now older so you won't need as much coverage. And with all the money people have to pay with those high premiums with whole life they can be saving/investing the difference by purchasing a term policy for way more coverage and way less cost.

​@@westwood3286Try looking into an Early Cash Value policy. Guardian Life Insurance or Mass Mutual are 2 companies that offer these. I thought Term insurance was the way to go until stumbling across the IBC (Insurance Business Concepts) channel. Not trying to tell you what to do but this is another tool for educating yourself.

@@westwood3286 you have a really bad policy if that’s the case. Give me a shout and I can show you an illustration of what a good policy could do for you and show you future gains

Yeah this video is meant for someone who doesn't understand life insurance at all. Not someone who has an extra couple million just lying around.

Great, how do I get this money out of "storage" without having to pay insurance company 8% interest and/or fees or defer it out of my death benefit?

@@astroman30 you have to pay a storage fee ha ha. What a joke WL is and the worst part is they keep your stuff when you die just like a storage unit if you don’t pay the bill or die..

THIS PART!

I’m glad someone said it bc I was about to go in!! She also forgets about the fact that if you put it in a regular brokerage account you’re gonna have to pay taxes on the income that you make and if you put it in an IRA you can’t touch it till you’re 59 1/2. Insurance has its appropriate uses for different things. She clearly doesn’t know what the hell she’s talking about. And I have worked in the securities industry and sold insurance.

I was about to buy her book but when I saw her complete lack of understanding re whole life, I am going to find another rich bff for advice. We’ve got 3 wl policies that we borrow against regularly for other investments. You don’t have to pay back the loan as the insurance will pay it off when you die but not a good idea as the policy won’t pay out as much to your beneficiaries. Talk to a good agent. Mine is awesome at State Farm

That's what I've researched, Cher thnx

ok but again, how many people have an extra 8,000 to put into their life insurance policy? that was one of the points she was making. That's 700 a month.

You can also take out policy loans immediately.

3-5 percent just do a high yield and avoid losing 800 Dollars in fees

lol so not much more return with a high yield savings account these days, and the S&P index averages 10% annually over the long term. Just use a HYSA and save the fees

But can you borrow against to whole life insurance? Take a personal loan against it?

Same

Thanks for the clear up, only for high net worth people!

You may have to speak to a more knowledgeable advisor. They should be able to answer all of your questions. Not saying an IUL or whole life will work for you in particular but it can make sense in some cases.

Be careful. If there’s no toll over option and you get diagnosed with something that limits your eligibility, you may end up with no insurance.

An IUL is an awesome product. It only goes up with the market. Your covered with your death benefit from day one and as your investment grows you can use that money for whatever you want and not pay interest to a bank. You can choose to pay it back to your cash value or not. If IULs were bad then why do so many wealthy people have them? You need someone that knows how to write them

My wife thinks I'm worth more dead than alive now that she has a policy, life insurance, against me. Like some of her friends that have dead husbands and money and a life of fornication.

Why IULs are garbage (from an actual fiduciary :) 1. Money never enters the market - With an IUL, the money funding the cash value portion of the policy is never actually invested into the market. Instead, the insurer holds your “cash” and pays a return on the annual growth of a specific index. Anyone selling IUL are not required to have a securities lIC. 2. Growth potential is capped - While most policies have a “floor” of 0% which prevents your cash value from dipping below what you put into it, your growth potential is capped, too. For example, if your policy limits growth to 10% on the index and that index out-performs that percentage, you’ll still only receive the value of 10% in your account. The insurer keeps the difference. 3. No dividends - Dividends are completely eliminated in an IUL policy. Not having the chance to reinvest any earned dividends, as you could choose to do with an individual investment, means you could miss out on a great deal of money from dollar-cost averaging over time. 4. Fees, fees and more fees - IUL policies are packed with fees and charges that will eat into any cash value accrued. 5. Rising costs - The internal cost of insurance continues to rise as you age, which can limit the amount of money going toward any potential cash value. All universal life is A.R.T ( annual renewable term) PLUS: Almost all cash value policies have these “features” built in. • You’ll accumulate NOTHING in cash value for the first few years the policy is in force. • The cash value earns a lower rate of return (often just 2%-4%) than the potential return you could achieve if you put your money into a vehicle such as a Roth IRA in the U.S. • If you borrow from the cash value, you’ll pay it back plus interest. • If you die with the policy in force, beneficiaries receive the death benefit (less any outstanding cash value loan balance) while the insurer keeps any accrued cash value. Unless you have the increasing death benefit option (option b) the consumer will pay more for that option. The consumer always gets screwed when investing in these policies. The only winners are the agent and the company. The BS I hear all the time is it has to be "structured properly." I have collected 64 policies in the last year and I haven't I seen one structured properly.

Extra premium for that, Term you don’t have to pay extra for all of that. Id rather invest money and only pay interest on gains.

Universal Life is NOT Whole Life

I’m an agent and offer IULs and have one myself too. Couldn’t agree more

The thing that the cash value agent never tells you is the that the cost to insure your life goes up every year and is based on either annual renewable term or increasing term. Open your IUL policy and just look for the page that says guaranteed maximum monthly cost of insurance. There is a table there that shows you what happens with the cost of insurance each year you own the policy. Spoiler alert! It goes up! And your premium and cost of insurance are not the same thing…

@@PaulPNewell So if you get Term and it runs out, wouldn’t the cost of insurance be substantially larger due to sheer older age and possible health issues?? Maybe even risk being uninsurable?

I can break it down to you for free. A free financial education and also do your financial needs analysis for free. It's my way of giving back to society.

I wish people would mention that you have to have a bunch of money to spare monthly for whole life. And then you have to wait YEARS before you can "borrow" from it. Like she said "it only makes sense if you already have a lot of money".

Agreed. It's about structuring your finances to build wealth. Which is something she isn't speaking about at all...

@@AirunDevonthe policy I have let me borrow after 30 days! The paid up additions rider that was added allows for early cash value growth!

@AirunDevon a bunch not so, ill give ex. If you can afford to straighten off pay for whole life. I think the best way would be to get a company that allows you to do term and with it. After the I think it's up to 5 years or 10 years. You have to transfer it over to whole life. And you're still able to lock in the price point and everything a good company. Or the one that I know is mass mutual. 40 dollars if ya healthy

In general it's TRUE, this type of insurance is not for everyone. Better to separate investments from insurance

Make sure you read the print because the payment usually increases and also if it has cash value and you want to use it you will have to pay interest

My policy premium had never increased, and the interest you pay will be paid to yourself , since you are taking a loan from your own account, just like taking a 401k loan, you will pay no tax from your life insurance but will definitely pay tax on your stock earnings or 401k

@@alamgudiel7663 - I’ve been paying $30 a month for almost 40 years. My parents got me to get that policy when I got my 1st job when I was around 20 or 21.

True

And you pay interest on cash value

ULs, IULs, VULs, Whole Life are all garbage. Anything with "cash value" attached to it is a scam.

Exactly.. if the people who say these things actually had a license to sell any type of insurance maybe they would finally do some real research

Indexed Universal Life is by FAR a better choice than whole life. Far more profitable too.

@@phillipgoolsby5089 you are right.. so much better and terms end..

@@phillipgoolsby5089depending on your age and your health. If you’re unhealthy and old you’re sol for an IUL. Better off getting a WL/FEX

Index Universal life is a WHOLE LIFE product!

Well, most people that need life insurance aren’t wealthy

@@alamgudiel7663 Not True at all. Sure they don't "need" it by any financial means, doesn't mean its not a useful money tool.

Didn't she say it's only good for wealthy people??

I forgot to mention the 80 dollar price point is locked in for life.

Whole life is ALWAYS a problem. Mathematically it is ALWAYS better to buy a much cheaper term policy and invest the difference in an investment SEPARATE from a policy! The interest rate is VERY low (2-4%), you have to pay interest to the company (6-8%) to borrow your OWN money, the premiums are WAY more expensive than term AND if you die prematurely your survivors have to choose between the face amount and the cash account. Life insurance is intended to replace income in the event of a premature death. Children only need enough to cover final expenses if something were to happen. Term with a child rider is the BEST way to go!

Exactly. It’s not even about the monthly premium but just the fact that you are using the insurance company’s investment. They will charge you investment fees as well. The math is complex behind the scenes and when you co-mingle the death payout and investment it clouds your ability to determine whether it’s worth it

@@rebeccahasspoken why would u buy term then it expires you've lost all that money

@@amaznngrace Because insurance is intended to protect income while you are young and building a nest egg. It should expire at the time of retirement. At which point one should have money in an investment vehicle like a Roth IRA and a retirement account at work (if accessible). You will ALWAYS have more in the investment account than a low interest whole life policy because of higher interest rates on the market (rule of 72). Also, the first 2-4 years none of your money even goes into the cash account with whole life. Go check your policy. It’s all there. The average consumer just doesn’t know how to read these policies or what to even look for. I’m a financial coach. I educate my clients about all this. I replace whole life then open an investment account. Mathematically one will end up with significantly way more money. If you are 65, kids are grown, house paid off and have a million dollars saved why would you need life insurance? You’ve become self insured at that point. There is NO, I repeat NO financial freedom in whole life. The company profits big time and the consumer loses thousands even millions in compound interest if they had of invested in the market.

True, because on the cash value on WL you’re gonna have to pay interest. It’s better to buy term and invest the difference

That's why you buy term life insurance at a fraction of the cost.

As a licensed insurance provider, I'd never suggest a Term policy unless it made sense. Always go for a policy that you can't out live and one that you can access in the case of illnesses and more. Contact me for more information. 😊

@@shelbybrown2732 As someone who has been in the LI industry for 11 years, I advise to not listen to ANY agent/salesman regarding the need of insurance. Asking an insurance "provider" if you need whole life insurance is like asking a dog if he's hungry.

What’s missing in this short clip is the next step. Term life should cover you while you have people that are dependent on you. During that term, a good financial advisor or coach will tell you to grow your assets so no one will be scavenging for money to bury you.

Won’t ur policy mature at age 100? and if u want your cash value early you will have to pay interest

I’m 28 is it too late?

@@TheBold1994 Not if you start with $30K and you’re okay with only $2 million at retirement.