When someone exposes themselves, often the exposee really doesn’t want to see it. If someone exposed your universal life policy today, would it send you screaming into the dark.

There isn’t a week that goes by that I don’t yell at the top of my blogging lungs about the fact that millions of universal life policies that families are depending on, are doomed to fail even if you continue to pay exactly as you were told to do.

I have explained in previous posts (a lot of them), that the reason that agents sell these types of policies is simply to beat the competition on price. They never show the client the downside to the low price, or if they do, they poo-paw it off by saying how great the company is and how you can count on the current projections and not worry about the guarantees.

I have two illustrations that I would like to offer, aptly named Good UL and Bad UL, attached to this post. These illustrations are not reflective of the companies, but rather a stark look at the difference in premium and how it affects the guarantees. Both of these companies have great, guaranteed UL products. Both companies are susceptible to unscrupulous agents manipulating the numbers to have the lowest price and win the sale.

bad-ul.pdf

good-ul.pdf

Note on the bad UL, on the current or non guaranteed side, cash value and death benefits just go on and on. On the guaranteed side everything goes in the toilet after year 10. You don’t want this policy.

Note on the good UL, that while there is no cash value on the guaranteed side, it is guaranteed to have a level premium to age 100 and death benefit to age 120. You do want this policy.

Bottom line. There are more universal and whole life policies in force that fit into the “Bad UL” category than there are in the “Good UL” category. Compare what’s in these illustrations to your own policy and see if you need help.

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