So you are still contributing the $6,240 annually while withdrawing the $17,000? So all you are doing is withdrawing your premium money tax free. The net is $10,760 that you are actually withdrawing, and that comes from the $218,400 you already paid in the first 35 years. I know you are using this video to teach agents, but I personally am trying to learn how to understand the illustration as a consumer. So at age 100 you paid in $405,600 (6,240x65 years) and withdrew $510,000($17,000x30 years retirement) all while leaving a death benefit of $301,000.
Basically (based on this illustration) pay in 405,600; use $510,00 tax free for yourself (a net of roughly $100,000) and leave behind $301,000 to your heirs tax free. So that's basically $811,000 worth of benefits for $405,600. Double what you pay in but when you take into account inflation and the fact this is based on the non gurenteed side I don't know if this really figures that well. Maybe I'm wrong about all this but as an uneducated consumer that is how I understood this presentation. Not putting this down but just pointing out concerns I would personally have.
just1294 Its typically effective to illustrate premiums stopping at target retirement age, letting the cash value accumulate for 5-10 more years while the client is living on other retirement savings, and then showing withdrawals from the policy later on to help supplement their other savings. Then you're showing pure withdrawals without any premiums. The illustration used in this example is not a limited pay policy with those capabilities, but was likely chosen because any agent should have a regular guaranteed whole life policy in their arsenal so it casts a wider net.
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