All Forum Posts by: Angelique F.

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Crickets

Thanks so much Mr. Rutkowski!!!

"An overfunded policy assumes massive prepayment in the early years"

Can you break this statement down for me?  Does this mean that I would be expected to make massive prepayments in the years to follow?

What do you make of this statement?:   

Not every life insurance agent carries or wants to carry a securities license. Which means the only solutions in their arsenal they can present to someone who wants to put a lot of money aside for the future involves overfunding whole life, universal life, variable universal life or equity-index universal life policies. When all they have is a hammer, the danger is that everything might start looking like a nail.

Thanks!!!  I have my appt scheduled for the weekend to discuss the Illustration.

Hi Mr. Rutkowski,

Zachary wrote, "The goal is to try to overfund the account so the cash starts growing as quickly as possible."  

So I was asking if its possible to overfund just the death benefit portion when you overfund the EIUL, kinda like how you pay your mortgage and you apply the payment towards the interest vs the principal?

Or how is it determined in an EIUL as to how much goes towards the death benefit and how much towards the stock?

@Zachary Paschke

Oh, that's good to know Mr. Paschke, thank you!  Question:  Can you overfund the death benefit portion separate from the investment portion?

Hey Everybody,

I was listening to podcast #17 with Jeff Brown and he talked about how EIUL's are a really great way for young people to invest in their future.  In a nut shell, with this policy, part of your premium goes towards the cost of the death benefit (insurance costs) and the rest gets invested. The money in the “investment account” then grows and the policy owner can access these funds via a policy loan.  

If many of you young people (like most) are not thinking about your retirement because, well thats a hella long way off, you might want to look at the benefits of an EIUL because you can, after about 10 years or sooner, start taking loans (with interest) against the investment account portion and use that money to fund your Real-Estate ventures.  The great thing is that you are not taxed or penalized by the government for taking this money, and you don't even have to pay the money back.  If you don't pay the money back however, your death benefit is decreased.  I mean I am really excited about this and Im educating myself about this because to me, this is a no brainer.  

I had a meeting this morning with Dave Shafer who Jeff Brown recommended.  I went to Dave's website, emailed him and he immediately set up a call with me to discuss.  I did a little research on this policy so that I wouldn't sound like a complete idiot, because this stuff is very complicated and extremely intimidating which is why most people shy away.  Dave was very calm, and didn't make me feel like a complete idiot lol and explained things in a way I could understand.  For me, hes going to try to structure a policy that will make sense for me financially (ie a monthly premium I can afford) as well as choosing the right investment strategy.  

So, do yourself a favor and take 5 minutes to look online about this very beneficial financial planning tool.  If nothing else, you'll learn something and be encouraged to look to the future cuz life goes by really really fast, and you want to be ready.  At least I do and I want to share any knowledge I can with you guys.

Thanks for reading!

Yeah, I realize now that its all said and done that you have to go through those trials so that you learn what not to do.  My Dad who was with me when I got the house said, I bet you wont ever get a house in such bad repair again, and I said yeah prolly not, but at least I know what it costs to replace a boiler, and what it costs to install a furnace and so on.....  I learned so very much and yeah it beat my butt, but now, I can say what many can't, and that is that I did it.   Folks, get out there and make those mistakes.  Its the only way you're gonna learn.