Reviewing Our Favorite Life Insurance Company’s for Infinite Banking in 2024
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- čas přidán 12. 09. 2024
- I'm joined by Caleb Guilliams from @BetterWealth to discuss the best life insurance companies for infinite banking, including dividend rates, what you can expect from some of the biggest companies this year, and what you should be looking for when working with a company.
Ready to set up your own And Asset Policy? Schedule a free clarity call - www.andasset.c...
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*This video is for entertainment purposes only and is not financial or legal advice.
Financial Advice Disclaimer: All content on this channel is for education, discussion and illustrative purposes only and should not be construed as professional financial advice or recommendation. Should you need such advice, consult a licensed financial or tax advisor. No guarantee is given regarding the accuracy of information on this channel. Neither host or guests can be held responsible for any direct or incidental loss incurred by applying any of the information offered.
Ready to set up your own And Asset Policy? Schedule a free clarity call - www.andasset.com/clickhere
Get FREE Overfunded Whole Life Insurance Education and Resources - bttr.ly/vault
Thanks for touching all the bases with this breakdown. A lot of advisors don’t even want to talk about this subject and I think it’s commendable that you guys took a position and posted this online. PROPS! 👍
Appreciate this comment!
26:10 :) risk spread out is extremely profitable. As Buffet found, the float (paid premiums pre claims pay out) is huge...
That is wisdom!
Hey! You guys didn't get to the part where you talked about Primerica or WFG and Transamerica. I really would like to hear from you guys
WFG and Transamerica don't fall into the "Infinite banking" bucket, but here are my thoughts on those companies.
czcams.com/video/BpTSfdDOcsk/video.htmlsi=t0n7SJBdUMUXGkir
Loved making this episode with you Dom! Excited for what we have planned next 🙌
It was a blast 🔥
I rep several carriers and I always ask clients their goals and objectives. That allows for me to select the carrier for them
Love it!! You are one of the good guys! Serving the industry well! Appreciate you!!!
Here are my goals and objectives:
I want to pour in my after rax dollars so that, after several years, I can get some of my money back by borrowing from my cash value and paying it back with interest.
I want to be burdened with commissions and fees and pathetic ROI so that my cash value takes up to seven years to break even with what I've paid in.
When I die, I want the insurance company to keep my entire cash value and pay my beneficiaries only the death benefit.
Can you recommend a company that can help me meet these abjectives?
@@markf.2050 Yeah, we can help! Just be very specific and tell us what you want when talking to the team like you were here. If we can't accomplish it, then what you are asking for is likely impossible. I only say that because we can do any policy design with the best companies up to what is legally possible by the IRS and the insurance companies. Use this link to talk to someone on the team! calendly.com/d/g7b-pfy-68y
@@AndAsset
I thought so...
@@AndAsset Looks like you didn't read Mark's comment all the way through. I don't blame you though. Gunderson made a video solely devoted to him since he loves to find every single IBC video and crap on it.
What specific life insurance topics would you like to see us cover in detail with this new format?
Bring the executives on lol!That will be incredible!
I would like to see in detail how you buy businesses or investments through the policy that is protected. Such as is the policy in a trust and that makes the investments in the trust?
Here to learn more, thanks!
Im definitely interested in hearing from these Mutual Companies & what they've got to say!!
Amazing! Please let us know if you have any questions!
I'm already working with an agent with Northwest Mutual, they have NEVER marketed this to us as a way to use Life Ins. Can I ask my agent to help me set this up or should I contact experts like you guys?
@@AndAsset
I agree with you both in saying IUL isn't inherently bad or evil and that it does have serve a function in specific cases. 100% agree.
That being said... in doing IUL policy audits the majority of what I see is not good. I get not wanting to come across as biased, but universal life insurance is going to cause serious financial problems for the majority of policyholders at some point. Especially later on in life when the policyholder really needs the policy.
I understand that this show isn't about the potential problems with IUL... I'm just afraid that talking about it so neutrally might give IUL policyholders a false sense of security, IMO.
Overall great content though! Tons of value. I love how you guys break things down and I'm looking forward to future shows. Keep 'em coming!
Thank you for this we really appreciate it!
I would love to hear more of your insight on "majority of what I see is not good." and "universal life insurance is going to cause serious financial problems for the majority of policyholders at some point."
PS I am definitely not disagreeing with you I am more so seeking to understand so I can provide more value to the conversation myself!
First off, I want to reiterate that I loved the video. Super informative to hear you guys jam on how you evaluate different carriers 👏
9 out of 10 of the IULs that I see are not max funded or reviewed annually. Most are below target funded. A lot of people are buying these policies thinking that a 6-7% return is conservative based on historic S&P performance and that what they see on the illustration is what they can expect.
There's going to be a point in the future where thousands of IUL policyholders who don't understand what they have will realize the money they were planning on using for income in retirement won't be there. Breaks my heart.
Trying to bring this issue into the light without putting anyone down or being judgemental towards anyone.@@AndAsset
@@ianvogelmedia One thank you so much for the love and support it really means a lot to us. 2. I am curious your thoughts if 10 out of 10 are max funded would that solve some of the major issues here.
3. Also just so you know I agree with you here! I love the dialogue right now! And I also love your heart behind it as well!
I'm enjoying the dialogue as well! From one WFG refugee to another 😅
I'm going to assume that by major issues you mean that the policy underperforms and leaves the policyholder in a bad financial situation.
Max funding a policy is only one (but probably the most important) part of it. I look for 5 things that need to happen for an IUL to have a chance at decent performance.
1) Max funded
2) Level death benefit
3) For death benefit only, not steady income
4) Started before age 45, to pay for raising COI later on
5) Mandatory annual review with a competent advisor.
Missing any of those can contribute poor long term performance. Most people I work with who own IULs think they have something safe and reliable... which just isn't the case and can really leave people in a bad spot.@@AndAsset
@@ianvogelmedia I love this!! Amen to this. This is good and challenges me to be more clear in my language wether speaking about whole life or IUl and this is definitely more pertinent to IUL but sharing that it is a tool that isn't necessarily good or bad but can be bad if there aren't clear expectations and the factors you mentioned aren't involved.
Because a blanket statement that IUL's aren't bad i think could be detrimental at its core! This really is great dialogue I always enjoy a good conversation that challenges me to think!
From what I have heard from 3 agents Penn issued a new WL line in 2008, another after the recent 7702 updates.
Only those 2 products get the published Dividend of 5.75% Older policies got screwed.... at the expense of the new policy holders. That's not something you hear about WL you usually do about IUL but they don't do it their IUL
How does that even make sense? And if it does make sense? What do all the new policies get?
Not sure if the variance in dividends can be explained like this, but this is how one agent explained it to me. Not sure if you'd agree with it?
The industry should come up with standardized measurement of the dividend or a different phraseology like "effective dividend" after mortality and expenses are taken into account.
Anyways, here's the explanation I previously got:
"There are three different factors that come into play in order for a dividend rate to be determined. These three components are: Expenses, Mortality and Interest Rate (or Investment Return).
The problem is that not every insurance company factors in all three of these components when declaring their dividend rate. So although one company, which shall remain nameless, states they are crediting 6.4% that figure only reflects the Interest factor, and it does not include the Expenses or Mortality components."
This is beautifully well articulated! When you getting your license?!
@@AndAsset Umm... I don't do well at convincing others. I already have a hard time convincing my wife 🤣
@@oldporkchops hahah you wouldn’t be convincing anyone just sharing the message. But that is hilarious 😂
Great information!
Thank you!
I would like to know more about when to use a direct recognition vs nondirect recognition companies for my clients.
Noted! 😁
We can create some longer-form content to help answer this, but long story short, it doesn't really matter. Both are great options, and one will perform better than the other depending on the interest rate environment, and since it fluctuates so much, it will end up not mattering in the end. Non direct recognition is easier to explain and understand, though that is its one up.
What about Lafayette insurance company, any thoughts on using them for infinite banking?
Never mind I see you have talked about them, thanks anyway.
Yah definitely a great company! Is that who you have your policy with?
Is there any companies with a low fixed or variable loan with a cap... F&G has an IUL with a variable loan that has a 5% cap. Meaning the loan will never be over 5%... What are come whole life carriers with favorable loan terms for infinite banking?
Every company is different I have read with some companies the caps around 8% but things would only ever get there if interest rates went a lot higher!
Right now the variable rates are between 5-6.2% and there is one company with a fixed 5% rate!
What do you feel about Ameritas?
I have them at number 8 of 10 for IBC czcams.com/video/Pveoy8wHuXU/video.htmlsi=WjQsqv8S2EpL4cCZ
How do you tell a wfg agent they need to leave?
Send them this video I did not too long ago. czcams.com/video/BpTSfdDOcsk/video.htmlsi=3pprHImqavib5kn-
Where does One America land here? For Dividend rates?
Hello; what are your thoughts on Ameritas as a company for IBC concept?
I give my thoughts on them in this video for that exact question along with 9 other companies - czcams.com/video/Pveoy8wHuXU/video.htmlsi=6Xr57gPtHWTlKcmm
I would like to know your feelings about Ohio National demutualizing, and would there ever be a reason to use them again?
My thoughts are, it was no bueno and there would never be a reason to use them ever again.
I need someone to review my IUL policy that I just got three months ago, I am thinking about doing a 1035 Exchange to a whole policy. I wanted to know the pros and cons.
We’d love to help answer those questions and look at your current situation! You can schedule a free clarity call here with us if you’re interested www.andasset.com/clickhere
👀👀👀
I am listening......
Penn typically keeps its' rate the same in 2 year periods. These guys really have no clue what they are talking about. Where is the discussion on capital reserves? It's a delicate balance to remain competitive and not sell TOO much insurance YOY. Dividends could remain the same YOY (same company) and the policies have a higher or lower return YOY. How is that possible? Only when you understand how these things actually work will you know the answer.
Thanks for the insight. I am open to being educated. Send me the link to your CZcams channel and the video so I can learn a thing or two.
@@AndAsset That's an immature answer.......I wonder how many people you may have lost because of it?
@@paratrooperlane7022 Can you tell me what I said that was immature? I’d be happy to correct it if that’s the case. Thanks!
@@AndAsset I'm not here to point out your faults.
@@paratrooperlane7022 I looked back and reflected on my comment to Tyler, and you aren't wrong. Thanks for pointing it out.
What about New York life? You do not talk about them much 😊😊😊😊
NY Life is a great company if you want to use it for IBC. Finding an advisor who knows how to design one isn't impossible but definitely more difficult than other companies.
Northwestern Mutual strongest and highest dividend bar none
@@mattpassa1447 what does highest dividend mean to you?
Thank you for your research.
@@user-pc1gr1uh9m Thanks for watching!
God damn. You left MLM scam companies and now you're doing infinite banking videos? Damn.
HAHA, I am not huge of Infinite banking either, but that's what people are searching for, so it gets the clicks to be able to share how insurance really works. Plus infinite banking feels extra scammy because of the way people talk about, just like in MLM's. By nature they are solid concepts people just ruin them.
@@AndAsset my bad. I didn't watch most of the video after seeing the word 'infinite banking' in the title.
@@sarscov9854 So, the marketing had the opposite effect. That is actually good to know. I appreciate that insight!!!