I’m almost sold, give me one more example.
Here is a great example of an IUL policy that averaged just 8%, some time ago, so these are real numbers.
Imagine setting up your child or grandchild for life for a very low monthly premium (just one or two lattes per day).
We start with little Yianni, a newborn baby and for the first 5 years, mom and dad put out just $100 a month. Then, for the next 2 years they up it to $150 per month, and finally for the next 8 years they up it to 200 per month. We are talking a total contribution of $28,800 for their little Yianni.
When Yianni gets to age 18 he has about $260K accumulated and he gets out $12l per year for 4 years for his college. Then at the age of 31, he gets out another $25K for a down payment for a home for him and his wife Katerina, (he found himself a Greek girl). At age 45 his beloved Katerina wants a vacation house, so he gets out another $100K. At age 65, he decides to retire on a Greek island, so he starts getting out $142K per year until he gets to the age of 89, and at that age sadly Yianni passes away (too much ouzo).
The total dollar amount he withdrew from his savings account was about $3.5 million. At his death, Katerina got a death benefit of $1.6 million and she lived happily ever after.
And all that was accomplished with $28,800 of total premiums.