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Author: gdett2 Big red star, 1000 posts Old School Fool Ticker Guide Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 75643  
Subject: Re: 7702 Private Plans (indexed universal life) Date: 3/30/2013 3:18 AM
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Ray,

Does anybody have a $1,000,000 IUL?

I have a partial answer for you. I have several friends that could be in this category and higher. I was trying to pinch them for some endowment donations recently and I talked with some of them about investing styles. I also asked if they had heard of IUL policies because of the last thread on them here. 4 said yes and had IULs pitched to them by an agent. None were interested. Why?

It caps their upside because of the high internal expenses. It makes the people that hawk these things rich, not the buyer of the policy.

The reason we have money is we were willing to risk it. We give it to good charities but none want to waste it on fear. We prepare for bad times since we know they will come.

None of the above are silver spoon people. They worked hard for what they have. Not a single one is going to give a bunch of their money to an insurance company for no real benefit. They insure their homes, buildings, equipment, health, life, etc for protection.

This discussion about losing 50% in retirement and being crushed by taking withdrawals during depressed market conditions is garbage if you plan ahead. If a person invests 100% in stocks or the S&P500 with no adequate cash/near-cash cushion to carry them through the rough spots, it isn't the fault of the market or their broker. That is just simple Planning 100, not even a true college level course.

Gene
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