Infinite Banking exaggeration?

[scagnt83]

I am using Penn Mutual, the only issue with the shoe box is I probably would forget where I put it. Have you heard anything about Ameritas Life? Got a phone call from them today

Penn does not take 10 years to get a positive return if you are maxing out PUAs. (perhaps a T4 or T5 rating)

Ameritas WL is not designed for strong CV accumulation. They say it is... but it isnt last time I looked at an illustration. Miles apart from Penn/Mass/Guardian.

 

[Golfnut2112]

Penn does not take 10 years to get a positive return if you are maxing out PUAs. (perhaps a T4 or T5 rating)

Ameritas WL is not designed for strong CV accumulation. They say it is... but it isnt last time I looked at an illustration. Miles apart from Penn/Mass/Guardian.

Thanks for the info

 

[scagnt83]

Thanks for the info

If Ameritas has updated their product and it seems competitive please let us know. Id love to have another competitive WL. I have some DC Plans with them and they have been very easy to work with.

 

[DHK]

Ameritas really seems to be pushing/promoting their IUL more than their WL. A friend of mine who primarily does IUL just signed on a career agent contract with Ameritas - for the health benefits, but to promote their product too.

As for the exaggerations, I responded to Sam's thread in the FB group too. This was my response to him there:

1. Depreciation is a tax-code deduction that isn't a cash-out transaction. Every business asset has a depreciation schedule. This could be an area of "finding the money"?
2. Bankruptcy - depending on if we're talking about a business bankruptcy or not, even then, depending on what state you're in, life insurance cash values might be protected from creditors.
3. Voluntary sale - Can help with securing the financing of a loan, but that's not unique to IBC.
4. Succession Planning - same for voluntary sale, again, not unique to IBC.

One thing that IBC concept promoters need to often do is make sure that the policy you're talking about will actually DO what is being talked about... or if we're talking about a portfolio of policies - each designed to do different things.

All IBC policies are life insurance, but not all life insurance is designed to do IBC.

 

[Golfnut2112]

Ameritas really seems to be pushing/promoting their IUL more than their WL. A friend of mine who primarily does IUL just signed on a career agent contract with Ameritas - for the health benefits, but to promote their product too.

As for the exaggerations, I responded to Sam's thread in the FB group too. This was my response to him there:

1. Depreciation is a tax-code deduction that isn't a cash-out transaction. Every business asset has a depreciation schedule. This could be an area of "finding the money"?
2. Bankruptcy - depending on if we're talking about a business bankruptcy or not, even then, depending on what state you're in, life insurance cash values might be protected from creditors.
3. Voluntary sale - Can help with securing the financing of a loan, but that's not unique to IBC.
4. Succession Planning - same for voluntary sale, again, not unique to IBC.

One thing that IBC concept promoters need to often do is make sure that the policy you're talking about will actually DO what is being talked about... or if we're talking about a portfolio of policies - each designed to do different things.

All IBC policies are life insurance, but not all life insurance is designed to do IBC.

How does your friend like them and are they competitive?

 

[DHK]

Ameritas has the High Early Cash Value rider which has high 1st year cash values on their IUL. I'm hearing 80% 1st year accessible cash values. I bet that's what he's primarily doing and what most Ameritas agents are doing and promoting.

Again, he's an IUL guy, not a WL guy. I haven't heard much of anything else about Ameritas other than he likes the product and he wanted the group insurance in exchange for meeting an annual production requirement.

 

[titeye]

Interesting reads