Thinking about some conversations I've had the past couple months with other agents, carrier reps, and imo reps - I got the feeling that generally people feel good about IUL's now, but there is that little bit of fear in the back of their minds that they could be a bust in the future. Not so much that the product itself is a bust, but more of the caps and rates will continue to decline slowly, and/or costs will rise and you end up with a non-guaranteed product that delivers whole life performance. Or worse, a policy that more resembles a GUL. It makes you wonder when company reps that have been in this industry for 35+yrs feel uneasy. We've seen caps slide for many already and even some companies have increased charges.
This is my biggest concern with IUL's. The story is awesome, but will it pan out long term? Most sell to overfund a policy for 20-25yrs, then take more out as tax free income for the rest of your life. But given how young IUL's are...nobody has ever actually been able pay in 20-25yrs, and take out income for another 20-30.
How do you guys feel?
This is my biggest concern with IUL's. The story is awesome, but will it pan out long term? Most sell to overfund a policy for 20-25yrs, then take more out as tax free income for the rest of your life. But given how young IUL's are...nobody has ever actually been able pay in 20-25yrs, and take out income for another 20-30.
How do you guys feel?