They pitched me the product, I gave them all my info, and I bought it. I was on two different zoom sales calls that lasted about 90 minutes in total. They ignore the death benefit (the insurance part of an IUL insurance policy) and instead talk about the amazing compound growth, tax benefits, unlimited banking, retirement income, etc.Īfter seeing these social media posts, I clicked on one of their links in bio and set up a meeting. I have been seeing a rash of insurance salesmen on social media representing their insurance products as investments.
How do I know this? Because I bought one, read all 91 pages of the policy, and did the math. In an Indexed Universal Life (IUL) insurance policy: $320,701Īn IUL policy is likely to erode 82% of your wealth compared to investing directly in an index fund that tracks the same index.If you invest $200/month for 40 years, this is how much you’ll end up with.
