Lapsed: The Universal Life Insurance Whistleblower

This book clearly lays out the numerous issues with universal life insurance products and how they are sold. Life insurance can be an amazing product, but unfortunately, many companies and agents do not have the best interest of their customers at heart.

The guy nailed the IUL problem. Look up any "best IUL" list and download the client brochure.It discusses investment terms, like the Hang Seng index and the SP500 index. . Does an unlicensed IUL advisor even know what those are? The person who sold it to you doesn’t have to be investment licensed, that’s the great loophole the industry uses.The IUL industry outsmarted the regulators (who are supposed to protect the consumer) and the consumer has been victimized for decades. The book is the blue print for regulators to understand this large-scale problem…and finally do something about it

I am by no means a math person. I found this book fairly easy to understand. I really appreciated the step by step process the author took in showing and explaining the problem and how as always the devil is in the details.It makes me sick that in todays economy when people are struggling the most that there are still people out there willing to take advantage of people and either theirignorance or being too trusting.This definitely made me open my eyes and am grateful there are people out there doing the right thing.

The indemnity concept he explains is INSANE. The policyholder transfers their risk of death to the universal life insurer, but the insurer transfers the investment risk back to the policyholder.If your actual rate of return is lower than the forecast (of the initial sales meeting) the policy cash value will much lower and not be able to pay for the massive costs as a senior citizen and the policy lapses.WOW

He says term policies are awesome and I agree with him. The author is very grounded in his logic. He doesn’t care what kind of life insurance your own, as long as it’s not a universal life policy. I like that. So many authors hate term but it’s a great option for coverage on a budget.

One could only wonder how many of the 1.1 million people who passed away due to Covid were senior citizens whose policies lapsed and therefore never paid out to the families. Unconscionable

This book is a must-have if you own a universal life insurance policy. I can’t imagine anyone who has this keeping their policy after completing the “ scorecard” that Moas offers in the book.

He’s right! I just looked my illustration on my VUL and it forecasts me receiving 8% every year for the rest of my life, which I now know makes my policy worthless!