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Please see attached the chart page from a Transamerica Financial Foundation Indexed Universal Life (FFIUL) policy. A California WFG agent sold this policy to a client earlier this year. Transamerica buries this very important chart deep down in its policy paperwork.

This chart's numbers are Cost of Insurance (COI) charges. Carriers also call them Mortality Charges. For Universal Life (UL) policies--like the FFIUL--COI charges are a constant--and constantly growing--part of your monthly premium.

At first these COIs look small and harmless. But when you add in their multipliers, they swell to enormous charges that threaten to destroy your policy. **If you live to your 80s and older, you can pay much more than your Death Benefit. How can that possibly make any sense for a policyholder to pay?!

Let’s do an example together. You are a healthy non-smoking 35 year old male who buys this policy. You choose a $500,000 death benefit.

Look in the second column on the left, titled “MALE MONTHLY COST OF INSURANCE PER $1,000.” Trace down that column to age 35. You see “0.09333.” This means that, at age 35, you pay $0.09333--a little over 9 pennies--per $1,000 of Death Benefit per month.

“Gee, only 9 cents. Sounds low right?” Not so fast! First you need to multiply $0.09333 by 500. Why? Because you pay 9 cents just for each $1,000 of death benefit. Remember, you bought $500,000 of total Death Benefit. Thus you have to multiply $0.09333 by 500. That gives you a COI charge of $0.09333 by 500 = $46.67 per month. Then you have to multiply that by 12 to get your yearly COI charge. In this case $46.67 x 12 = $559.98 per year.

See how it works? To calculate how much COI you have to pay each year, you have to multiply that year’s monthly COI charge by *6,000.* That’s 500 (for your total Death Benefit) x 12 (months in a year). 500 x 12 equals 6,000.

Now all you have to do is go down the column and multiplying each year’s COI by 6,000. That’s

Age 35: $0.09333 x 6000 = $559.98

Age 36: $0.09750 x 6000 = $585.00

Age 37: $0.10333 x 6000 = $619.98


Age 85: $9.98583 x 6000 = **$59,914.98**

WHOA! What just happened there?! At age 85, you pay almost $60,000/year? Almost *$5,000 per month?* Indeed that's -over- $5,000/month when you add in all premium fees.

I’m afraid it’s true! In your twilight years, your FFIUL becomes enormously expensive. So expensive, you are most likely forced to drop it and lose everything you put into it.

Let’s make the math super easy. Let’s say you’ll die at age 85. All you need do is add up the COI charges from ages 35 to 85. Then multiply that by 6,000. It comes to $1.023815 x 6,000 = $614,289. Over $100k more than your Death Benefit.

If you live to 90, it’s worse--MUCH worse. You pay $1,018,374. That’s over a -million dollars-. Twice as much as your Death Benefit.

Wait. You pay over a million dollars for a $500k policy?? Again, how can that possibly make any sense for a policyholder to pay?

Using this simple math I showed you here, please ask your WFG agent how the FFIUL can possibly make sense for anyone who expects to live even a reasonably long life. Please don’t let your WFG agent pass off your question with a vague claim that “your money will grow to cover this.” Please make your agent -prove- to you that your money's growth will cover these enormous late-life charges. Insist he use a hand-held calculator --NOT Transamerica’s Illustration software that can hide numbers and other data from you. Also very important: Ask your agent to do the math at 5% average annual Rate of Return which is close to the long-term stock index rates of Return. That’s very important. You don’t want your WFG agent to use the fantasy 8% and higher Rates of Return that less scrupulous agencies typically use.

It’s almost certain your WFG agent will be at a total loss to defend the FFIUL by the numbers. In his May 25th 2016 review, author William3 lays out a compelling argument for why you'll wish to avoid this policy. It’s titled “World Financial Group - Plan to live a long life? Will your FFIUL--WFG’s “top” product--FAIL and leave you with NOTHING? I show you the MATH." If you bought the FFIUL, I urge you to follow the procedure that William3 spells out for you there. Do this before you meet with your WFG agent so you are fully prepared. Knowledge is power.

WFG agents, if you see any problems with the reasoning and math I present here, please let us hear from you. Thank you.

Review about: Transamerica Ffiul.

I didn't like: Concerns about transamerica ffiul policy.

Review #886905 is a subjective opinion of a user.

Reason of Review / Monetary Loss Concerns about Transamerica FFIUL / Not specified
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Hi Ty.Thanks for taking an interest in the FFIUL math.

Let's look at what you say. First you ask: "...Maybe this "fantasy" 8% rate of return is similar to the maximum chargeable amounts in that they are not likely to happen?..." Ty, you bring up an excellent point that highlights the main danger in the FFIUL and indeed in ALL Universal Life policies: The carrier, e.g. Transamerica, *shifts most of the policy risk on to YOU*, the policyholder. In the FFIUL, Transamerica guarantees only a zero to abysmally low 1% yearly return on your index account, and sets maximum total expenses at an absurdly high rate.

These expenses gobble up a third or more of your premium.

Ty, this is what separates xUL products like the FFIUL from Whole Life. In WL, the carrier guarantees you pay a truly *level* premium for the life of your policy; until you die. E.g.

of you buy a $300k WL policy for $300/month at age 30, the same $300/mo is what you pay at age 90. The WL's truly fixed premium motivates the carrier to maximize the return on the cash accounts because the higher the return it gets, the more profit the carrier makes above what it needs to pay your benefit. With xUL, like Transamerica's FFIUL, it is the opposite. The carrier actually stands to profit more with *lower* index account return.

Why is this true Ty? Because the less return the carrier earns for you, the more YOU, the policyholder, has to fork out to make up the carrier's shortfall just...

It's not in their interest to work hard to do that. Indeed, the carrier *wants* you to lose your policy, to lose everything--your death benefit and the $100,000s you faithfully put into it. It means more profit for the carrier and its shareholders.

Ty, then you say "...this policy was used by investors to gain tax free income and was challenged by the IRS and the IRS Lost. This is why there is now a 'corridor of insurance'..." Ty, I need to correct your errors here.

You refer to 26 U.S. Codes §7702 and §7702a, which, together, prevents the policyholder to stash more tax-sheltered money into his cash-value than the amount he needs to fully fund his policy. Congress enacted these two codes in 1988--the IRS had nothing to do with it. As far as who "won" or "lost" Ty, the American people won.

Congress largely fixed a problem that, from 1979 to 1988, allowed Americans to avoid paying their fair share of taxes by shoveling unlimited amounts of money into tax-sheltering Universal Life policies.

Finally Ty you give an ESPN link to Michigan head coach Jim Harbaugh's salary. That's totally irrelevant here. Harbaugh's highly tailored insurance policy, with its $35--$75 million benefit, is radically different from the very expensive poor- to middling-quality retail xULs, like the FFIUL, that B/Ds sell to the middle market.

Harbaugh owns a Variable Universal Life policy, subject to the Guideline Premium Test (GPT) + Cash Value Corridor (CVC), wrapped in a Private Placement Life Insurance (PPLI) shell. The PPLI shell allows Harbaugh to engage his own professional financial manager to choose and fine-tune the investments, including exotica like hedge funds, to turbocharge his average return to 8, 10, or more percent per year, unlike the anemic 2.5--3+% CAGR that the mainstream carriers dribble out to its retail xUL clients. Plus Harbaugh will pay only 2--3% per year in management and Cost of Insurance (COI) fees, *10 or more times lower* than the heavy fees Transamerica extracts from Ma and Pa Kettle for their little $500k FFIUL. Harbaugh's pro financial manager will finely tune his policy to keep its cash value hugged right up against the Cash Value Corridor limits, minimizing Harbaugh's net risk and thus keeping his Cost of Insurance to the bare minimum.

Finally Ty, with such large dollar amounts, Harbaugh really *will* enjoy huge tax savings and subsequent opportunity gain for his loads of cash to earn more loads of cash. This, because virtually all of Harbaugh's premium will avoid the top income tax bracket of 39.6%.

For super high-dollar folks like multi-millionaires who can qualify for and afford a PPLI-wrapped VUL, Universal Life really can be a terrific deal. But for regular middle-class folks, retail xULs, like Transamerica's FFIUL, are truly awful products that will almost certainly fail on their holders, causing them to LOSE everything--their death benefits and the $100,000s they poured into them.

Even the Society of Actuaries (SOA) who have supplied their expertise to the American insurance industry for well over a century, project an xUL failure rate of well over 90% in the 60th policy year. Bottom line Ty: The retail xUL nearly guarantees you will waste a tremendous amount of your hard-earned money.

Thanks again for your comment Ty.

Hope this helps.www dot lifehealthpro dot com/2016/11/16/cash-value-life-insurance-makes-harbaugh-college-f www dot insurance-forums dot net/forum/life-insurance-forum/michigan-gives-harbaugh-raise-via-life-insurance-t83954 dot html#post1123199

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Toledo, Ohio, United States #1308272

Maybe this "fantasy" 8% rate of return is similar to the maximum chargeable amounts in that they are not likely to happen?

Also, this policy was used by investors to gain tax free income and was challenged by the IRS and the IRS Lost. This is why there is now a "corridor of insurance"


Hi Ty. Please see my comment above that addresses your comment here. Thanks.

Atlanta, Georgia, United States #1292717

I would start with a disclaimer that I am not affiliated to WFG and have not seen an actual FFIUL policy.However I have seen some illustrations of FFIUL and IUL from other companies like North America & Minnesota Life.

After doing a significant research on the IUL's and other whole life insurance, here are some of my observations. Please correct me where I am wrong.

1) There are two types of death benefits offered by permanent policies - level death benefit which remains same for the entire life of the policy and at the age of 100 cash value becomes equal to death benefit and this is the case in a typical whole life policy. So the amount at risk for the insurance company reduces over time as cash value accumulates to becomes closer to the payable death benefit.

2) The other type of death benefit is increasing death benefit in which cash value in the policy adds to the death benefit thereby increasing the death benefit payable to the beneficiary. So in this case the policy face value is always at risk for the insurance company and this makes COI very expensive at later years of life as mentioned by OP.

3) Universal Life (IUL in particular) is a very flexible policy and all companies allow the policy owner to choose and swap between increasing death benefit and a level death benefit.

4) In case of IUL it is advised that during funding period an increasing death benefit be chosen and at a later date when funding stops or the time when...

Most of the illustrations presented by agents are created with this in mind. Also remember this swap must be done by the policy owner and the insurance company will not do that based on the illustration presented during purchase.

If an illustration is run with increasing death benefit throughout the life of the policy, it will show such high COI as mentioned by OP.

5) In case of the policy referred by OP, I believe that the policy has been written with increasing death benefit and the insurance company assumes that policy will remain like that which is why such high COI is shown.When you change the death benefit to level the COI will reduce because of the explanation in point 1 above.

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NON-Captive Broker

What is indexed universal life insurance?

IUL is also known as equity indexed universal life (EIUL)

IUL is a type of permanent life insurance policy (i.e.not term insurance) that provides both a death benefit to named beneficiaries and living benefits to the policy owner in the form of policy (or cash) values

What is unique to IUL is the growth of the policy values is linked to the positive performance of one or more securities or market indexes, like the S&P 500 Index, while NOT exposing the policy values to the downside risks of the markets

Whereas variable universal life (VUL), which also has policy values linked to securities, has both unlimited downside and upside exposure to the linked markets, IUL provides downside protection from market risks (in the form of a guaranteed minimum annual return) in exchange for a capped upside of any positive annual market returns

IUL policies combine the long-term growth potential of equity or other markets with the security of a traditional life insurance contract Many people who “drink Wall Street Kool-Aid” are surprised that life-insurance-company-based products are a significant part of the net worth of some of the savviest and wealthiest institutions and individuals in the world: According to a New York Times (Charles Duhigg) article published in 2006, “Hedge funds, financial institutions like Credit Suisse and Deutsche Bank, and investors like Warren E.

Buffett are spending...

In addition, any reference to specific financial products is not a recommendation to buy or sell these products. Liquidity Though IUL is designed to be held long term (at least 10 years), it offers significant liquidity Of all other long-term, tax-favored assets (i.e. IRAs, 401(k) plans, annuities) it provides the most liquidity without a tax penalty IUL is the only long-term, tax-favored asset used as collateral for a bank loan Using an annuity or retirement plan as loan collateral, even if allowed by the bank, will trigger a taxable event Due to IUL liquidity, banks will even lend money for the purpose of purchasing IUL, using the policy values as primary collateral It is not uncommon to have access to 100% of your principle within a few years Some IUL policies have a provision for 100% liquidity from the beginning of the policy IUL liquidity provisions include either withdrawals from the policy values or loans from the insurance company using the policy values as collateral According to a Medical Economics article on 6/19/2009: John McCain used the liquidity of his large life insurance policy to initially finance his campaign Doris Christopher used the liquidity of her life insurance policy to launch Pampered Chef—that she eventually sold to Warren Buffet for $900 million J.C. Penney used the liquidity of his large life insurance policy to begin resuscitating his retail stores after the crash of 1929 Safety An IUL policy that is properly structured and funded with a highly-rated insurance company should be one of the safest assets to hold in a portfolio IUL is sold by some of the largest and highest-rated insurance companies in the world Unlike banks, life insurance companies do not use excessive leverage If a bank has $1 million on deposit, it can lend out up to $10 million This “excessive” leverage is a reason many banks are failing If a life insurance company has $1 million on deposit, it can lend out no more than $920,000, meaning life insurance companies are 100% reserve-based lenders, making them stable institutions in down economies According to the Medical Economics article, during the Great Depression, when more than 10,000 banks failed, 99.9% of consumers’ savings in life insurance remained safe with legal reserve life insurance companies IUL, since it is a life insurance CONTRACT, contractually guarantees that though the policies values are linked to various markets, there is a guaranteed minimum return in case of negative markets In addition, all positive interest that is credited to policy values is protected from future market losses In many states, life insurance policy values are protected from creditors (lawsuit, bankruptcy) by state law There are two main risks of losing money in an IUL: Not properly funding the policy This risk can be mitigated with proper structuring (i.e.

minimum death benefit per $ of premium) and source funding (i.e. using assets, instead of cash flow, to fund the policy) Cancelling the policy in the early years This risk can be mitigated with proper planning and ongoing policy servicing Expense There are six (6) main expenses associated with IUL: Cost of insurance (also known as mortality charges) Monthly expense to pay for death benefit Premium expense (also known as premium tax) One-time percentage (usually 5%) of each paid premium which is paid by the insurance company to the government Policy expense (also known as monthly expense) Monthly expense to cover insurance company expenses Cap-rate enhancement expense Expense to purchase more market-index upside Loan interest Subtracted from policy values if not paid in cash Surrender charge Possible back-end expense charged if policy is cancelled before a certain year (usually 10-15 years) Many IUL companies offer policy riders that waive the surrender charge From an expense perspective, since IUL is “front-loaded” and typically has a surrender charge, it usually does not make sense to purchase IUL as part of your short-term portfolio (i.e. less than 10 years) Purchasing IUL requires a long-term approach—much like the mindset you take when deciding to purchase a home versus rent a home (i.e. short-term pain for long-term gain) Due to the number of possible expenses of IUL, it has the reputation with some people of being “expensive”, but in and of itself, IUL is neither expensive nor inexpensive—it depends on the policy structure, funding and utilization A properly funded, structured and utilized IUL can have a relatively low expense ratio compared to many other assets; conversely, due to non-cash-value-correlated expenses of IUL, not funding IUL properly, or cancelling it in the early years, can lead to a high expense ratio To minimize the expense ratio of IUL, you should purchase as little death benefit as possible (see Internal Revenue Code (IRC) §7702) for each premium dollar paid—that way, more money is retained in your policy values The expense ratio of a policy can be projected/calculated using the difference between the illustrated (gross) rate and the internal (net) rate of return (IRR) For example if the gross illustrated rate of the IUL contract is 8% and the net long-term IRR is 7.6% then only .4% is lost to policy costs (or about 5% of the total return)—which compares favorably to mutual funds and other managed portfolios With most mutual funds, the annual expenses that have to be subtracted from the gross return include fund fees, management fees and taxes For example, if you owned Fidelity Magellan Fund (FMAGX), according to Yahoo!

Finance, the annual fee paid to the fund is 0.59% The management fee paid to your advisor could be around 1% (less or more depending on how much you invest) Since the fund has a turnover rate of 102%, that means that most of your gains in the fund would be taxed at short-term capital gain rates (i.e. your marginal tax bracket) and have to be paid each year Therefore, if the fund grossed 8% (its current 10-year return is less than 1%), then the net after-tax return would only be 3.82%–which means you would lose 52% of “your” return to the fund, your advisor and the IRS: 0.59% to the fund 1% to your advisor 2.59% to the IRS, assuming a 35% marginal federal tax bracket (not including potential state income tax) and taxed at short-term capital gain tax rate (due to high turnover rate of the fund) Therefore, with the expenses and taxes associated with the Fidelity Magellan Fund, using the assumptions above, the fund would have to average almost 16% per year to net what an IUL would net with an illustrated return of 8% and an IRR of 7.6% So, in this example, would you rather pay 5% of your long-term return to have death benefit throughout the term of the policy (and downside protection from the markets) or would you rather pay over 50% of your return to have no death benefit (and no downside protection from the markets)? Again, the expense of an asset is always relative to what you are comparing it to Rate of Return Potential IUL policy values are linked to various market indexes that allow your policy values to grow up to maximum annual cap rates Using long-term historical performances of market indexes, most policies will illustrate future policy value growth based on historical averages of 7%-9%, depending on the index and cap rate There are several ways to potentially increase the long-term IRR (net return) of IUL policy values: Purchase IUL from companies that have higher participation caps Some companies have annual cap rates as high as 20% on their index strategies Purchase IUL using premium loans (also known as premium financing) This strategy alone can significantly increase the long-term IRR of IUL Use fixed participating loans when accessing the policy values These are loans where you pay a fixed rate to the insurance company but you still have the upside of the market indexes for your policy values One company offers a fixed participating loan that is contractually guaranteed to be 5.3% for the life of the policy Use fixed participating loans during your “accumulating” years to purchase appreciating assets like real estate and other investments This allows you to have the potential to experience a double positive arbitrage (the difference between what you pay in interest versus what you gain through rate of return) You can earn the difference between the loan rate and the IUL index crediting rate, PLUS… You can earn the difference between the loan rate and the return on the appreciating asset Sell the policy on the secondary market During your retirement, if you decide you no longer want or need your policy, you could sell the death benefit (i.e.

contract) for more than the policy value This would obviously be in your best interest but may not be in the best interest of your beneficiaries The secondary life insurance market is what was referenced to earlier that hedge funds, banks and investors like Warren Buffet are involved in When a policy on a senior citizen is sold/purchased on the secondary market, it is known as a “senior life settlement” In the right situation, it can be a win/win for both the seller and buyer since the seller (you) is getting significantly more than the policy values, while the buyer is purchasing your death benefit at a deep discount Tax Efficiency IUL can be one of the most tax-favored assets under the Internal Revenue Code (see your tax advisor for specifics regarding your situation) A properly structured, properly funded and properly utilized IUL (see IRC §101 and IRC §7702) has similar, but arguably better, tax benefits than Roth IRAs (see IRC §408A and IRC §7701) Premiums are paid with after-tax dollars Policy value growth is tax deferred Policy value profit can be accessed tax free via withdrawals and/or policy loans (that can be paid back via the death benefit at policy maturity) Policy death benefits (usually significantly more than policy values) can be received tax free by beneficiaries The two main advantages of IUL over Roth IRAs are: You can put significantly more money into IUL than a Roth IRA IUL has significantly more early liquidity (i.e.penalty-free withdrawals/loans) than a Roth IRA However, if a policy is “cashed in”, any profit in the policy would be taxable at your federal marginal tax bracket This tax can be mitigated if the policy values are rolled directly to another qualifying permanent life insurance policy (see IRC §1035) This is similar to doing a real estate tax-free exchange (see IRC §1031) This tax-free exchange option is important since there is a high probability that future insurance policies will have more desirable features, and policy owners may want to “upgrade” their contracts without having to pay a “tax toll” Therefore, since properly structured, properly funded and properly utilized IUL: Is more liquid than most assets… Is one of the safest assets… Is relatively inexpensive… Has historically-based, above-average return potential, and… Is one of the most tax-efficient assets… IUL is at the top of my list as a foundational part of a long-term portfolio.

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to NON-Captive Broker #1290611

All this and you can't contradict anything about the complaint...haha!! Holy crzp batman if you care about your family and friends you wouldn't even dare to defend the FFIUL disaster! Now go...go...go my sheap to replenish your brainwashing to make sure reality doesn't creap in!


"Non Captive Broker" thank you very much for your lengthy post on the Indexed Universal Life (IUL) policy.Alas, all retail IUL policies I've reviewed to date, each is an awful deal for *every person* who expects to live a reasonably long life.

Their fatal flaws are due to one simple fact common to all IULs: the policy's Cost of Insurance (COI) charges skyrocket in the insured's later life, which virtually guarantees to force the insured out of his policy. This causes, in his retirement years, the insured and his family to LOSE EVERYTHING, his death benefit and $100,000s, perhaps even a million or more, that he faithfully poured in to it over his life.

Among the retail IULs I've seen, Transamerica's FFIUL--WFG's flagship product--is especially bad. WFG/Transamerica structured it with some of the highest fees and charges, the lowest death benefits, and the lowest protections against skyrocketing late-life insurance charges, of any IUL I've seen.

The FFIUL is so poorly structured, it virtually guarantees you will lose this policy unless you die relatively young, under 65 or 70 years of age.

Next "Non Captive Broker" you make numerous claims which I address here. In all cases, I corrected them for the record.

Many years ago, insurance carriers stopped calling the EIULs.

They dropped the "equity" name out of the IUL for legal reasons. Despite its name, the IUL doesn't have to follow an equity index or any other kind of index....

It's important to understand that the IUL *is* a Term life policy--one made "Permanent" as long as you can afford to pay the skyrocketing late-life fees.

The IUL is an auto-renewing 1-year Term Life policy, with Cost of Insurance charges that increase ever more rapidly as you grow older. As I explained at the top of this comment, it's these yearly renewing and constantly rising charges that make the IUL a uniquely bad deal.

The carrier does NOT have to link its policy to any index. While it's true it doesn't expose "...the policy values to the downside risks of the markets..." this fact doesn't matter. Skyrocketing late-life Cost of Insurance (COI) charges will force the insured out of his policy, causing him and his family to LOSE EVERYTHING.

All Universal Life policies suffer this fatal flaw, including the UL, and the VUL you mentioned. "Non Captive Broker," you irrelevantly refer to the 2006 Charles Duhigg article in the NYT. Nowhere does the author mention retail IULs or *any* Indexed Universal Life policies at all. The reader can find this piece if he searches on the title "Late in Life, Finding a Bonanza in Life Insurance." You imply the former Fed Reserve Chair Ben Bernanke has the majority of his liquid net worth in IULs.

Again you are incorrect. Per Marketwatch, "...Federal Reserve Chairman Ben Bernanke's largest investment holdings are currently, and have been for a while, two different *annuities*..." Annuities are not life insurance policies. The reader can search on "Should you care that Bernanke owns annuities? Marketwatch" to read that article.

"Non Captive Broker," you say "The nation’s large banks invest immense sums ... into permanent life insurance." Again few or none of these policies are IUL. Banks buy "BOLI"--"Bank Owned Life Insurance. " BOLI is either UL or VUL, Variable Universal Life insurance, NOT IUL.

The reader can see this for himself if he searches on "Straight-Talk-BOLI-Understanding-the-Products-Chassis" from New York Life. Please go to the chart on page 2 of that PDF. "Non Captive Broker," finally, you introduce the five purported elements to supposedly recommend the IUL: "Liquidity, Safety, Expense, Return, Potential Tax Efficiency" and discuss them at length. The reader can stop reading your long post at this point because the answer is simple: None of these five elements matter at all if skyrocketing late-life Cost of Insurance (COI) charges will force the insured out of his policy, causing him and his family to LOSE EVERYTHING.

This answers the rest your lengthy discussion, in which you attempt to elaborately justify a fatally flawed product that serves only the carrier like Transamerica, the broker/dealer like WFG, and the salesperson.

All of this at tremendous expense to insured.IULs, and especially Transamerica's FFIUL, are terrible exploitative products that customers should always *avoid.* "Non Captive Broker," thank you again for your comment.

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What company is this IUL through?


Hey "Non-Captive Broker," what's "inaccurate" about this review?Its math comes right out of the COI chart attached to that review.

All there for everyone to see.

Please kindly explain HOW and WHY this review is "inaccurate." Explain it HERE for the benefit of all of us readers. Please give us the details including all the FACTS and NUMBERS to show us how YOU understand the product, OK? And please take your salespitch and shove it you-know-where.

This is a complaints board.

This is NOT a place for WFG rep-licants to flog lousy policies to unsuspecting victims.Thanks.

to GuillermoHorror #1298464

Inaccurate because it's using the "Guaranteed Costs of Insurance" COI chart as indicated in the ledger.The GCOI is stated only as THE HIGHEST COST OF INSURANCE CHARGE THE COMPANY CAN LEGALLY INCREASE THEIR RATE TO BY REG.


ALSO, WOULD MEAN THAT THE NUMBERS SHOWN WOULD BE IF THE COMPANY STARTED IN THE INSURED YEAR 1 WITH THE HIGHEST COSTS PER THOUSAND (which did not happen, and if it did happen the insured would have moved elsewhere).So, the whole ledger is immaterial and not based on reality just used to show consumer the absolute worst case from policy inception.

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