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In this episode, we ask:
- Where do we start?
- Do you have one of these policies?
- What should you think through?
- Who to call?
- What are the questions to ask?
- 1. What are my current fees?
- 2. What are the maximum fees you can charge me?
- 3. Are there caps? Are the caps changeable?
- 4. How do loans work on this? Are the loans direct or non direct recognition loans?
- 5. What are the interest rates on the loan?
- 6. What is the current crediting rate? How often are you given that credit?
- 7. What happens to the guarantees if the premium is late, missed or changed?
- 8. What about the cost of insurance, can it go up in the future? What is the current rate of that cost?
- 9. May I have an in-force illustration of what my cash value performance would look like with the actual performance average (i.e. an optimistic 3.6%)?
- 10. Is there a no-lapse guarantee? Is there any sort of guarantee that my policy won’t lapse if I take income out at retirement?
- Can the customer service people answer these questions?
- What steps will you have to take to keep the policy from lapsing?
- Who is Debbie Wilder?
- What did Debbie find out about Indexed Universal Life?
- What happened when Debbie and her client called the Insurance company?
- What is a Guarantee Rider (to age 121)?
- What is the difference between the Guaranteed and Non-Guaranteed side of the illustration?
- What are the charges?
- What are the guaranteed downsides?
- What dirty details did Debbie discover?
- How are Universal Life policies like a bell curve?
- What did Debbie’s client decide to do?
- How does Whole Life insurance stack up to Indexed Universal Life?
- Can you compare the two on equal footing?
- How much might Debbie be saving her client over her lifetime?
- Are there options for transitioning away from IUL?
- What is a 1035 exchange?
- What is a withdrawal?
- What is a loan?
- How do you know what’s right in your situation?
- Need a second set of eyes? Book A Meeting with Us
Debbie Wilder is a Bank on Yourself Authorized Advisor; prior to this she was a Systems Analyst for 20 years. Financially, she and her husband did everything they were told to do – 401(k)s, IRAs, 529’s for their kids, paid their mortgage down faster, and so on. And where did it get them? On the stock market rollercoaster, losing 40% of their assets in 1999, and even more in the early 2000’s. In 2005, Debbie learned about the Bank on Yourself method using specialized whole life insurance, and she never looked back. It stopped the slide of their retirement assets, it created predictability for their future, her husband stopped watching the daily tickertape, and most importantly, it saved their marriage. After opening 13 whole life insurance policies, she decided to help spread the word and become an Authorized Advisor. She always wondered why this was not taught in high school or college, so she’s passionate about educating others about it.Debbie lives in West Hartford, CT with her husband Drew, two children (Bonnie and Sam), and dog (Snowflake). When Debbie is not working, you may find her taxiing her children around, coaching basketball, working out at the gym, or reading the newspaper.In order to provide her clients the level they expect and deserve, Debbie accepts only a small number of new clients each month who are committed to achieving lifetime financial security.
Teresa Kuhn, a respected financial educator, best-selling author, and strategist; is passionate about ensuring that her clients have the tools they need to survive a changing economy. 
