If you have ever seen those ads saying things like “be your own bank” or “the rich use this secret strategy,” today’s conversation might spark some curiosity.

We talk through the Kyle Busch lawsuit and why this famous NASCAR driver is saying he was promised one thing with an index universal life policy (IUL) and now he's claiming he lost millions of dollars and wants to warn others.

In recent years, IUL policies have seem to flood the market. We see them on Social Media all the time. There's different rules regulating them that's important to know. The lawsuits against them seem to be growing at a rapid pace.

This is not about throwing shade at insurance or the people who sell it. It is about understanding the problem you are trying to solve before any strategy even enters the room.

We look at what IULs try to do, why they sale the uber wealthy sometimes use them, and why that may not make sense for the typical family.

Topics Covered

💭 What Kyle Busch was told by the IUL person and why he says his payments did not match the expectations

💭 What an index universal life policy is

💭 The difference between suitability, best interest, and fiduciary standards

💭 Why some wealthy families may consider life insurance for estate tax planning

💭 Why most everyday people are not trying to solve estate tax problems

💭 How confusing financial titles can be and why that matters

💭 Red flags to watch for when someone pitches the same strategy to everyone

💭 What questions to ask before saying yes to any complex product

💭 Why understanding your real problem is more important than the product itself

𝐖𝐡𝐲 𝐰𝐞'𝐫𝐞 𝐡𝐞𝐫𝐞?

We’re here to make retirement planning feel less intimidating by helping people think through their strategies and plans through clear relatable financial topics!

💬 Questions or Want to Connect?

🌐 𝐖𝐞𝐛𝐬𝐢𝐭𝐞: www.custerfinancialadvisors.com

📧 𝐄𝐦𝐚𝐢𝐥: custerfinancialadvisors@lpl.com

Chapters

00:00 Was Kyle Busch Scammed by an IUL?

01:12 What's an IUL?

02:06 Are There Different Standards of Care to Clients?

03:12 They Market Ultra Wealthy Use These... Why Shouldn't I Then?

04:00 What's the Estate Tax Issue?

05:15 What Are We Trying to Solve with This Product?

05:51 This Isn't Just Happening to the Ultra Wealthy

06:19 Financial Industry Is Confusing!

06:55 Maybe These Are Right for Some People?

Disclosures:

Harborfront Financial Group is a Registered Investment Advisor registered with the Securities and Exchange Commission (SEC). Registration as an investment adviser does not imply a certain level of skill or training, and the content of this communication has not been approved or verified by the United States Securities and Exchange Commission or by any state securities authority.

The information contained in this material is intended to provide general information about Harborfront Financial Group and its services. It is not intended to offer investment advice. Investment advice will only be given after a client engages our services by executing the appropriate investment services agreement. Information regarding investment products and services are provided solely to read about our investment philosophy and our strategies. You should not rely on any information provided on our web site in making investment decisions.

Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Harborfront Financial Group, a Registered Investment Advisor. Harborfront Financial Group and Custer Financial Advisors are separate entities from LPL Financial.

This is a hypothetical example and is not representative of any specific situation. Your results will vary. The hypothetical rates of return used do not reflect the deduction of fees and charges inherent to investing. All investing involves risk including loss of principal. No strategy assures success or protects against loss.