Melissa

Here comes the angry insurance sales folk in the comments trying to defend their honor.

Let’s talk about the realities of an IUL. In 2010 Congress passed a law as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act which exempted indexed universal life insurance from federal regulation.

An IUL is permanent life insurance that is considered to be “right” for the investment-focused consumer.

It’s important to note, IULs are the most profitable insurance product in the last 10 years, and are NOTregulated by the U.S. Securities and Exchange Commission, unlike stocks and options.

Insurance agents aren’t required to undergo the same training as stockbrokers to sell “derivative products” such as options based on an underlying index — which is exactly what an IUL does. Their only requirement is to be licensed by the state as an insurance agent.

IULs are known for having a ton of administrative fees, expense charges, sales fees, commissions, surrender charges and mortality charges on top of the actual cost to insure you.

These fees can drain your policy’s cash value and if internal costs cause the value to drop too much, your policy will be at risk of lapsing and you’ll have to pay more in premiums.

My 6 figure index fund portfolio would never! IDK about you but I don’t wan’t my life insurance disrupting my budget.

If you’re looking for a simpler way to build wealth and invest in the market join me next Thursday for the “How To Invest Your First $100 dollars” webinar (link in bio) .
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