Gimme a Break, Bro – Stop the TikTok Grifters

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Can you believe these grifters hawking indexed universal life (IUL) insurance on TikTok? Here’s the actions I’m taking to put an end to this predatory nonsense. I encourage all readers to do the same.

Just plain ridiculous

The other day this disgusting video clip from TikTok popped up in my feed.

This guy, Jeff Lerner, was touting this exclusive "secret" of the "wealthiest" – borrowing from an IUL – without providing the full story about the risks.

Gimme a break, bro.

  • No talk about interest charges, risk of policy lapsing, surrender charges, nothing.
  • Is it true that wealthy people borrow from their cash value life insurance plans? It seems far-fetched they would draw from insurance when they have more liquid resources.
  • It’s also very short-term focused. There’s no guidance given about what happens if rates rise (or are collapsing, more likely), or your obligation to maintain the plan over time.
  • There are at least five ways you can borrow from an IUL policy, all with different charges, and where the money is drawn from varies case by case. None of this is mentioned here.