What is an IUL?
Indexed Universal Life is a type of permanent life insurance product where the excess of premium payments above the current cost of insurance is allocated to build cash value. The cash value component accrues interest based on a market value link called an index. An index has market-like gains but offers policy holders downside protection.
When is the instant issue product coming out?
Q1-Q2 of 2024
Can IULs be used for IBC?
Technically yes but it is not advisable. Participating Whole Life products are designed for the IBC and are more suited for that purpose than an IUL.
Why can't the DFL software read and IUL?
We use Participating Whole Life for the IBC
When do I use a ParWL and when do I use an IUL?
We use a Participating Whole Life Product for tax free retirement when the client is 50 and up. Sometimes 55 and up depending on the amount of premium. If the client is younger, then we use the IUL for tax free retirement.
Can I put someone's 401K in an IUL?
No
What carrier do I use for IUL?
F&Gs Pathsetter for younger tax-free retirement clients. Everlast for healthy death benefit focused clients. MOO IULE for death benefit focused clients but marginally healthy.
How do I get IUL certified and become an SME?
To become an SME for IUL please go to Quility U and find the certification course labeled IUL. If you have not written this concept it is recommended to attend 5-10 ride-alongs or resets to earn as you learn.
Who is an IUL a good fit for?
Someone under 50/55 that has some or no retirement. It is a good idea to reallocate someone's current 401K budget is not getting a match. If they are contributing above the match, it is a good idea to reallocate the money being contributed above and beyond the match.
How do I get paid on IULs?
IUL AVP is calculated off "target premium". You apply your contract level to the IUL's target premium not APV. You can find the target premium on the carrier illustration.
Where do I find the IUL presentation?
There is a step-by-step video inside of HQ under Carriers and Products>Product Concepts>IUL and inside of the Quility U certification course.
Where can I get IUL leads?
Lighthouse leads in HQ.
Where can I learn more about IULs?
HQ under Carriers and Products>Product Concepts>IUL. Also, you should read The Retirement Miracle by Patrick Kelly