Get an in-force illustration whenever you buy a Universal Life insurance policy!

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The regulators don’t force insurance companies to provide in-force illustrations to their Universal Life policy holders and it allows them to deceive consumers who aren’t prepared to do the math required to know the truth.

Insurance companies make Bernie Madoff look like a petty thief. Don’t fall for it!

But before we get into it…

Look, there are alot of schmucks out there hawking crap products disguised as financial advice.

Don’t be fooled!

Please subscribe to my newsletter to receive updates that raise awareness of consumer financial issues. It will teach you how to avoid shenanigans, crap products, and other scummy practices that are unfortunately common in financial advice.

I wrote a bunch of consumer advocacy blogs here to protect people from all the BS.

What’s a policy lapse?

According to our podcast guest Elan Moas, higher future costs liquidate the cash value until zero and the policy ceases to exist. All your Premiums, Cash Value and Death benefit are kept by the insurer, despite making all your payments. That’s financial devastation.

Why is it so urgent for the universal life policyholder to order an in-force illustration? Why is there a problem?

It’s simple. The original investment ROR shown to the consumer was higher than a rational and/or ethical advisor would use. This high hypothetical ROR makes the policy looks good at the point of sale, lower actual investment returns could show a future lapse. There won’t be enough actual cash value to pay for massive rising internal costs.

The urgency is to know if your policy will lapse or crash in the future. You want to know about this ASAP, so you can address this problem immediately. This is your money and your problem is not going away.

Is that what the in-force illustration tells you?

Yes. The in-force illustration is the current forecast The annual statement only shows the current policy values on that day, not the forecast.

What’s wrong with relying on investment hypotheticals in a Universal Life insurance policy illustration?

For instance, take Universal Life policies (ULs) invested in money markets in 1980s. The early 2000s shows 8%+ROR, interest rates went to 0% in 2022. Underperformed the illustration by 4%. That’s trouble. IUL/VUL have the same investment hypothetical problem.

So, there is no In Force Illustration law?

No. The insurer isn’t required to send one to you on annual basis, only if you ask for it. I think > 99% of policyholders don’t know this report exists. The regulators have failed the consumer. We need a law mandating each policyholder receive this report on an annual basis.

Let me leave you with this:


If you have any questions, send me a note. I am sick of consumers getting a raw deal and would be happy to hear your questions.


I have a newsletter entirely devoted to advocacy for the consumer. The goal is to educate people so they can steer clear of the traps the financial services industry sets for them. Please subscribe to my newsletter to receive these updates so you can avoid being taken advantage of by shenanigans.

These are topics I’ve written about in the past:

Blunt, unfiltered truth about Indexed Universal Life

How to CRACK the secret costs in an insurance illustration

Direct indexing sucks

Top advisor lists are bullcrap

How to read an ADV


Please subscribe to my newsletter to receive updates that raise awareness of consumer financial issues. It will teach you how to avoid shenanigans, crap products, and other scummy practices that are unfortunately common in financial advice.

Be safe!

-Sara G

Elan Moas

Elan Moas, the owner of Moas Consulting, a firm specializing in life insurance strategies, is a 4X SEC whistleblower and author of the book, “Lapsed, The Universal Life Insurance Whistleblower.” This is an expose of the entire universal life insurance industry and his decade-long research project to save millions of consumers and their lapsing policies makes him one of our country’s most important and ethical whistleblowers.


Grillo Investment Management, LLC does not guarantee any specific level of performance, the success of any strategy that Grillo Investment Management, LLC may use or mention in any of its content, or the success of any program it may mention in any of its content. Grillo Investment Management, LLC will strive to maintain current information however it may become out of date. Grillo Investment Management, LLC is under no obligation to advise users of subsequent changes to statements or information contained herein. This information is general in nature; for specific advice applicable to your current situation please contact a consultant or advisor. I want to be clear that nothing in this podcast or blog can be interpreted as an investment recommendation of any type, or an endorsement of any particular person or their services. The opinions expressed herein do not necessarily represent the views of Sara Grillo or Grillo Investment Management, LLC. Also, nothing in this podcast or blog can be interpreted as legal or compliance advice. For advise on such matters, contact a legal or compliance advisor. Any similarities to persons deceased or alive are entirely coincidental.

Any questions? Send 'em in!


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