Post by @owunnavictor

To get people to sign up for these cash-draining policies, index universal life insurance agents mislead prospective policyholders into believing they can withdraw their money anytime they want, which is totally false. But because agents have close ties with policyholders, they tend to believe them and sign up, only to discover later that they were misled. IULs and Whole-of-Life insurance products, regardless of the company the agent represents, aren't designed for people who aren't extremely rich because they come with high premiums that can end up costing more than they should, which then impacts the future growth the policyholder is sold into. Hope this helps. #financialliteracy #iul #lifeinsurance