TODAY,

@owunnavictor

12.8K followers · usually 8.9K views a post

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SoundTikTok sound · original sound - kwame_ondem

Why it worked

The video resonates with viewers by sharing cautionary tales and highlighting potential financial pitfalls, tapping into common anxieties about investments and insurance products. The use of relatable stories and direct warnings about "losing money" and "getting financially screwed" creates a strong emotional connection and encourages engagement.

Summary

The video discusses negative experiences with insurance policies, specifically IULs, and multi-level marketing schemes. It highlights stories of people losing money and facing difficulties accessing their funds. The creator emphasizes the importance of due diligence and understanding policy terms before investing.

Structure

1Introduction to a heartbreaking story about IUL policies.
2Sharing a personal anecdote about contributing $1,000/month for three years and losing $30,000.
3Discussing another person's experience of paying $1400/month for 11 months and losing $16,000.
4Explaining the commission structure and high turnover rate in multi-level marketing insurance sales.
5Warning about agents not disclosing the full picture and the potential for losing money.
6Advising viewers to test agents by asking about cash value and investment components.

On-screen text

TODAY, FROM VERY STORY. TOLD CONTRIBUTING $1,000 MONTH U POLICY. PERSON CONTRIBUTED ABOUT SO $30,000. TO WATCHING SAID TEST SO SAID FROM CASH AND ALL CASH $300, WHICH 1% CONTRIBUTIONS. SHOCKED. THAT WITHDRAW YOU 2 YEARS. SOMEWHERE 2000. TO MAYBE $20,000 POLICY WITHDRAW $2,000 FROM VALUE. AM NOW? COUPLE WANTED BUT THE THIS RECEIVED. GONNA THIS. SAID THOUSAND, $320,000, $10,320, $806 MONT. DECIDED DEEPER, I LOST MONEY. SAID, I WAS PAYING OVER $800. HUSBAND $700. EACH PAYING $250. ASSUME SO $500. LOST MONEY OF REGRETS TIMESHARE. FALLEN IN ATTEMPT BETTER SEE, AGENTS PRODUCTS BECAUSE TO ILLUSION THIS THE TO WEST, AMERICA, CANADA. BUY LIFE THIS UNIVERSAL INSURANCE, GOING THAT DREAM CONTINUE. CONTINUE. SAID, INVESTED TWO $7,000 YEAR. REALISED ACCESS MY VALUE THE 7TH YEAR, EVEN THEN, COULD BORROW ABOUT $7,000 DESPITE CONTRIBUTED $49,000 BY THAT POINT. ME, DIDN'T FINANCIAL POLICY FROM $14,000. YES, LOSS. FORWARD CONTINUE INVESTMENT ALIGNED GOALS. GOALS. IS AGENTS THAT LIKE KNOW THEY'RE WHAT SUPPOSELY GOAL. MEANWHILE, THEIR THE COMPANIES. SAID, $1400 MONTH FOR 11 MONTHS IN 2022. DUE TO INCOME DISRUPTION, I STOPPED FOR A WHILE. AFTER ABOUT 2 YEARS, I CONTACTED THEM IF I COULD ACCESS MY FUND AND THEY SAID NO, THEY SAID THE MONEY IS GONE. LET'S 1400 SINGLE MONTH FOR ABOUT $16,000 SINCE 2022. YEARS. 16,800 X 4 = 67,200 $70,000. INCOME DISRUPTION, STOPPED FOR A WHILE. SEE WHEN INSURANCE MAKE LIKE IT DON'T AN DISRUPTION, WHICH CRITICAL JUST JOB. BECAUSE SUPPOSELY POLICY, COME REALISE WERE STORY. A YEARS, CONTACTED ACCESS FUND, THEY GONE. HEARTBREAKING. SAID, NEW AGENTS ABOUT 35% COMMISSION WHEN THEY SELL POLICIES TO FAMILY AND FRIENDS, THE REST OF THAT MONEY FLOWS STRAIGHT TO THEIR UPLINE AS OVERRIDES. SO YOU LEVERAGE YOUR PERSONAL NETWORK, YET KEEP ALMOST NONE OF THE PIE. WITH 90% TO 95% OF RECRUITS QUITTING WITHIN THE FIRST 12 TO 18 MONTHS, THE CYCLE IS HIGHLY PREDICTABLE. THE AGENT LEAVES, AND THE UPLINE INHERITS YOUR BUSINESS, MEANING YOUR FAMILY MEMBER BECOME THEIR PERMANENT CLIENTS, IF THEY DECIDE TO KEEP THE POLICIES. THIS INTERESTING. ATTENTION. AGENT MENTOR, CLIENT ACCIDENT INSISTING FAMILY, THROUGH AS ONE WHO BROUGHT HIM IN, SO I WENT BACK TO MY DIRECT LINE CONFIDENTLY KNOWING HE WOULD BE SETTLED AND FROM THERE I WILL KICK MORE TO THE BUSINESS BUT I WAS SHOCKED, THE CRITICAL ILLNESS CLAUSE WAS JUST A MID, AFTER THAT INCIDENT I DECIDED TO QUITE CAUSE I FEARED GIVING PEOPLE HOPE AND BEEN DISAPPOINTED AT THE END. HE'S AGENT. ONLINE. PERSON AGENT POINT MONEY, STORIES, AND GET BECAUSE ALL POLICY, DAY, THING HAPPENS CLAIM GET ARE HEARING AND WAS THING HE ROUTE INSURANCE. YOU IF CONTRIBUTES OR INDIVIDUALLY RETIREMENT OR INSURANCE REASON BECAUSE HEARD EVEN VIDEOS, ABOUT BUT TAKE BIT UNDERSTAND EXACTLY THING LINKS UP KNOW LOST MONEY. HAVE OF EVEN OF A YEARS. SURE TIME TO. AGENTS. THEM THINGS SHARING. THIS SAYING. CALL ONE INTERNET THINGS. TELL REALLY POLICY. THEM WITHDRAW. TRYING IN VALUE? INVESTMENT WHAT SAYING? BE ARE AGENT, AGENT LEVERAGING THEMSELVES, AND UPLINES.

Original caption

More real life stories of how people have lost money believing that they were contributing into an insurance product that will save and invest their money, and give them a better life. Please careful out there. Too many people are getting financially screwed by some of these products. Share and help others. #financialliteracy #investing #moneytips #lifeinsurance #iul

More from @owunnavictor

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Transcript

I received the call from somebody who shared a very heartbreaking story. The person told me that he had been contributing $1,000 every single month in his IUL product or IUL insurance policy. And the person said that he had contributed about $30,000. So over $30,000. To watching said test so said from cash and all cash $300, which 1% contributions. Shocked. That withdraw you 2 years. Somewhere 2000. To maybe $20,000 policy withdraw $2,000 from value. Am now? Couple wanted but the this received. Gonna this. Said thousand, $320,000, $10,320, $806 month. Decided deeper, I lost money. Said, I was paying over $800. Husband $700. Each paying $250. Assume so $500. Lost money of regrets timeshare. Fallen in attempt better. See, agents products because to illusion this the to west, America, Canada. Buy life this universal insurance, going dream. Continue. Continue. Said, invested two $7,000 year. Realised access my value the 7th year, even then, could borrow about $7,000 despite contributed $49,000 by that point. Me, didn't financial policy from $14,000. Yes, loss. Forward continue investment aligned goals. Goals. Is agents that like know they're what supposely goal. Meanwhile, their the companies. Said, $1400 month for 11 months in 2022. Due to income disruption, I stopped for a while. After about 2 years, I contacted them if I could access my fund and they said no, they said the money is gone. Let's 1400 single month for about $16,000 since 2022. Years. 16,800 x 4 = 67,200 $70,000. Income disruption, stopped for a while. See when insurance make like it don't an disruption, which critical just job. Because supposely policy, come realise were story. A years, contacted access fund, they gone. Heartbreaking. Said, new agents about 35% commission when they sell policies to family and friends, the rest of that money flows straight to their upline as overrides. So you leverage your personal network, yet keep almost none of the pie. With 90% to 95% of recruits quitting within the first 12 to 18 months, the cycle is highly predictable. The agent leaves, and the upline inherits your business, meaning your family members become their permanent clients, if they decide to keep the policies. This interesting. Attention. Agent mentor, client accident insisting family, through as one who brought him in, so I went back to my direct line confidently knowing he would be settled and from there I will kick more to the business but I was shocked, the critical illness clause was just a mid, after that incident I decided to quite cause I feared giving people hope and been disappointed at the end. He's agent. Online. Person agent point money, stories, and get because all policy, day, thing happens claim get are hearing and was thing he route insurance. You if contributes or individually retirement or insurance reason because heard even videos, about but take bit understand exactly thing links up know lost money. Have of even of a years. Sure time to. Agents. Them things sharing. This saying. Call one internet things. Tell really policy. Them withdraw. Trying in value? Investment what saying? Be are agent, agent leveraging themselves, and uplines.