There’s are some major flaws to the recruiting system. To start the filtering process with new recruits.

WFG wants to be publicly known as helpful and dedicated to the client and in most situations they are. Buuut. Unfortunately some come across a Commission hungry, poorly trained agent who got left behind by a poor mentor. These people go out with no guidance and try to figure it out.

Unfortunately they leave a lot of damage in their wake. Pissed me off!! Because these are real peoples lives that they are damaging!! As I read through the comments every problem or Mis informed rant seems to be due to the *** agent I meantioned above.

My intentions are to try to help and possibly remedy any damage these poor agents did. My name is Matt and you’ll see my name on these posts. I will not try to recruit you, sell you, or convert you. You’re pissed off and have a right to be.

I’m only here to try and salvage and show you the respect you deserved to begin with. Let’s get to work!

Reason of review: Work Experience or Job Application.

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"Matt," on your comment #143****. Respectfully, it's *you* who is sadly uninformed.

And you give us ZERO proof to support your claims.

Here I'll show you exactly where you're wrong. I back it with solid proof from reputable sources.

Your claim that "...You won’t find an old IUL because it was a modification of the VUL..." Matt, that's flat-out WRONG. Transamerica launched the first IUL 21 years ago in 1997, called the "Transdex500." Please go to the SEC site at www dot sec dot gov/rules/concept/337438 dot txt and see footnote (14) "Linda Koco, "Transamerica Occidental Unveils Equity-Indexed UL (EIUL)," National Underwriter, Jan.

6, 1997." Carriers later dropped the Equity part from EIUL, from that point on they called them IULs. The SEC is the US Fed government Securities and Exchange Commission.

By 2006 IUL sales started to pick up. To see this, please search on the PDF with the file name "research-2007-****-us-ind-life-pers-report".

This gives you a joint report from SOA and LIMRA which together serve as the premier suppliers of actuarial and research services to the major insurance carriers in the US and around the world. This report tracks IULs from 5 carriers companies going back at least 11 years. See PDF page 58 for that proof.

Finally Matt, please go to PDF page 63.

You see that this SOA/LIMRA report discusses VUL *separately* from IUL. Matt this proves, *VULs and IULs are totally separate beasts*. Matt, you have to be pretty new to this biz not to know that basic fact.

Next you claim "...The iul has performed as promised for myself and for every one of my clients.The client and my self review them twice annually..." Matt--or whoever you really are--you're asking us to just trust you, because we don't know who you really are and you give us no proof. Like I suggested to you earlier, if you post some recent in-force illustrations of even *one* IUL that 10 years old, that's be a start to build a little cred with us.

Otherwise, we need to take what you say with a fat grain of salt. But I know you won't be able to post that illustration anyway :-) You won't be able to find it. Finally you claim "...There is a difference between using the index and using the index using floor and cap methods. That 8.65% was what the market HAS ALREADY DONE over a 20 year period of time using the Index floor cap method..." Matt, what are you even trying to tell us here?

As is, you give us only a tossed words'n'numbers salad. For example, you say "...8.65% was what the market HAS ALREADY DONE over a 20 year period ..."? Over the past 20 years the S&P 500 grew at a Compound Annual Growth Rate (CAGR) of only 7.17%. (Please go to www dot moneychimp dot com/features/market_cagr dot htm to calc that return for yourself.) So Matt you're saying the IUL returned 8.65% of the 7.17% "the market did?" That comes to only 8.65% x 7.17% = a paltry 0.62% growth!

Matt, I doubt that's what you meant to say. Maybe you'd like to try again to explain this to us :-) Btw, Matt, caps and floors are next to *meaningless.* Who cares about a 12%, 14%, 15% index cap if the real return never gets anywhere near that cap anyway, for reasons explained in that Valmark link I gave you earlier? Who cares about a 0.5%--1% index floor if huge policy fees, especially the Cost of Insurance (COI) charges that explode into outer space as you approach retirement and gobble up all your cash value and kill your IUL? Caps, floors, and participation rates are smoke screens that cover up the fact that the carrier invests the vast bulk of your cash value--95% or more--into boring *investment-grade bonds* which yield, AT BEST, 2.5%-4% percent.

I guarantee you Matt you will NOT be able to show us a credible in-force illustration that shows it any higher! Finally, Matt, and again, it's pointless to discuss indexes because the carrier jammed so many "outs" for itself in the contract, it essentially doesn't have to follow *any* index. Since you don't believe me and you evidently can't bother to even read your own contract, I'll post a review here of the FFIUL showing you exactly that language. You're welcome.

Matt, other dear readers, please ask yourselves: "Should I dump $300, $400, $500 per month into an IUL policy when none of these so-called "permanent" policies have lasted even ten years? Should I dump $50,000, $100,000 or more in an IUL only to lose it all in a decade or two?

Think real hard on that :-). Thanks for reading!


"Matt," you really wanna help? You can start by answering a simple question for us.

At what annual Index Account rate of return do you illustrate Indexed Universal Life (IUL) so-called "permanent" insurance policies for your clients? For IULs such as WFG's flagship policy, Transamerica's FFIUL?

6%, 7%, 8%? Higher?

Thanks Matt. Look forward to your answer.

@Vishnu Hhf

Hey absolutely no problem. I am not here to give opinions just facts.

For the interest rates I will be talking about the Global- Index Account and the S&P 500 Index Account

Over a 20 year look back of the index market. This will give you a realistic example of what an investment will do in terms for long term. In an (IUL) index universal life

Using the Floor and Cap method

I will be referring to periods of 1997-****

Global Index - 8.65% S&P 500 Index -8.01% We illustrate at 3 points This is what we show the clients what the clients money would look like at the following returns 1.We show them at the floor @.75% 2. We show them at a significant down turn at 3% 3.

The most we will ever illustrate at is 7.75% We would rather show a client 7.75% and then receive the 8.65% It’s a practice my team uses. “Under promise and over deliver” This is how it should be EVERYTIME! If you were shown something different you sat with a agent who lacked serious guidance and who had an moral compass out of wack! NOTE: the IUL is a long term vehicle!

If my client does not plan on keeping it for at least 10 years I will not suggest it. Instead depending on their situation I would suggest another tax advantaged fund.


Matt, in this example, including the Global Index and the S&P 500 Index, you're talking about Transamerica's FFIUL correct? Thanks.

@Vishnu Hhf

I’m referring to Index markets that apply to the IUl in general but yes these also apply to the FFIUL


Matt, why would you *ever* illustrate an IUL at crazy high rates of 7.75%?

What class of investment do you know of that will yield at even remotely this level over the very long term?

The 40, 50, 60 years and more that the insured expects to hold his IUL?

You do realize that the carriers invest 95% or more of your cash value in investment-grade bonds? Those return only 2.5--4% MAX. The IUL carriers' index claims for "Global Index Account" "S&P 500 Index" EuroStoxx Index, Hang-Seng Index, etc are totally misleading. To the point of being total smoke screens.

Matt, you talk as though IULs mirror those indexes. They don't! Nothing could be further from the truth!

Please give the FFIUL contract a good read.

Transamerica inserts lots of "outs" for itself all over the place. It says right up front it invests in all or merely PART of an index. Sure Matt, that could mean 100%. OR it could mean only 0.5%, hardly anything at all!

Plus Matt, the carrier reserves to right to change at any time the indexes it invests all or partly into.

Matt, the harsh reality: The carrier invests 95% or more of the cash value into the bonds to meet its 0--1% index floor obligation to the insured. Then they put the few remaining dollars into options, like Index Options. Which btw don't include stock dividends.

And which may or may NOT pan out anyway! Matt, please search on the study from Valmark Securities, a broker/dealer of 50 years which deals in life insurance and other financial products. You can find this 7-page PDF by searching on "Bishop LLC Indexed Universal Life: the Good, the Bad, and the Ugly". Anybody's who's thinking about buying an IUL *PLEASE READ THIS FIRST*.

In its study, the Valmark authors sum it up: “…[IUL] contracts are unlikely to produce long-term returns in excess of bonds…” Matt, treasuries now yield a “whopping” 2.7% and investment-grade corporates generally don’t yield far north of that. Through most of the years we’ve tracked bond yields since the beginning of the last century, bond yields have been below 4%, and even as low as under 2%. Hence, the paltry 2.5%--4% returns. Bottom line Matt: Over the long term IULs will earn only 2.5%--4% MAX.

That's it! Matt, if you're illustrating IULs above 6% you put your clients' IULs at *grave risk.* You cause your clients to deeply and chronically underfund their policies. At 6% and higher, it's a near guarantee your clients' cash-starved policies will collapse 10, 20, 30 years hence at the worst time possible, when their Cost of Insurance (COI) charges skyrocket in their retirement years. Forcing them to LOSE EVERYTHING: their Death Benefits and the millions of dollars they dumped into them.

Matt, how do you justify dangerously overillustrating your clients' IULs which nearly *guarantees* they will LOSE their IULS and all their hard-earned money they faithfully poured into them?

Looking forward to your answers Matt. Thank you in advance.


Matt, please try to find us a still-living IUL life insurance policy that's even *10 years old.* Try to find us one that hasn't gone down in flames, burning up all your client's money with it!

IULs have been available since 1997.

Their sales bumped up in ~2006. Yet even mere decade-old IULs seem rare as Siberian tigers. If they exist at all!

If you find even *one* of them, Matt, I'm sure we'd love to see it.

Please get the latest in-force illustration for it, scan its pages, mask out the identifying info, and put it up here and/or over on the WFG section at Finance-Guy dot net. (www dot finance-guy dot net slash streetonomic slash world-financial-group-review).

These two sites make it easy to upload JPGs. Thank you.

@Vishnu Hhf

The amount of errors in your statement was almost exhausting respectfully I had to stop reading half way through.

The iul has performed as promised for myself and for every one of my clients. The client and my self review them twice annually.

You are poorly informed about how the iul functions. You have general knowledge but it’s clear you haven’t done your research

I suggest you call the company directly and the agents will satisfy your requests it’s their job to do so

There is a difference between using the index and using the index using floor and cap methods. That 8.65% was what the market HAS ALREADY DONE over a 20 year period of time using the Index floor cap method.

The You won’t find an old IUL because it was a modification of the VUL. The VUL is not indexed the IUL was created to cater to those who are not as risk tolerant.


Matt, at the top I posted a reply to your comment #143**** that you posted ~6 hours ago.

I feel both sad and angry that you understand so very little about the expensive IUL insurance products that you sell.

You do your clients a terrible disservice that borders on criminal.

Please, please get a lot more educated on these policies. Thank you.


Hi Matt...well I must say that your IUL must be special...I have asked 8 or 9 different WFG AGENT in the last week here on PC and as you try to illustrate it's a sure thing...So i'll ask for the 10th time...I will buy a IUL from you If you GUARANTEE that when I turn 80 or prior if my cash value is short you will pay the difference of my COI ...I have asked and been denied by all others even thow every single one of you WFG AGENTS seem to have no issue in selling them nobody is interested when I ask for a guarantee..WHY?If you are interested send me your office phone number and location but I know you will never do it because as a male in his mid 40's the COI on the FFIUL is 60K/year for a 500k insurance.Mom trusts her son and she buys one but she puts a big part of her income in it for 15 years until she retires and then notices that her little pension can't pay for it and the groceries..she abandons it and so she looses the insurance amount plus all the cash she put in monthly while her son made a commission and WFG makes off on moms monthly bill like a bandit without returning a red cent.This is where MATT comes in and guarantees he will pay the difference right??Can't wait for your info. Thanks!


Hi Matt. As promised, please see the new review above titled "Why Your Pricey IUL Life Insurance Policy Will DIE and You LOSE ALL YOUR $$$".That gives you solid proof--*including pages from an actual FFIUL contract that you sell to folks*--that proves your fantasy high IUL earning claims are total out-and-out LIES and FICTION.

The FFIUL and other IULs will way WAY underperform what you tell your clients.Because you generate artificially low premiums based on these bogus stupidly high rates, you put your clients' policies at GRAVE RISK to COLLAPSE in later years and decades. Wiping out every single dollar your trusting clients dumped into these money black holes!Thanks for reading.

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