4,000 Reviews, $1M in Refunds: The Ugly Truth About IULs w/ Jonathan Aguilera
Release Date: 09/18/2025
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For most people, debt isn’t a mistake; it’s just life. The mortgage, the car loan, and the credit cards are what everyone does. Making the minimum payments feels normal, but that actually keeps people stuck. Millions of families are drowning in debt, and they’re barely managing. They’re working hard, keeping up with their bills, but almost every dollar they earn goes right back out in interest. They’re not moving forward; they’re treading water. The hard part is, they’re not doing anything “wrong.” They’re doing what the system taught them to do: stay cash-poor while the...
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Most investors don’t fail because they pick the wrong stock or buy into the wrong trend. They fail because they never define success for themselves. They chase returns without knowing what a win actually looks like. Without a clear target and purpose, investing becomes guesswork, and the chances of losing money are higher. Worse, they choose methods that look cool instead of ones they actually understand. They don’t give themselves a hard out, so they hold too long or sell too soon. And often, they pick investment vehicles that only pay them in one way. That’s where real estate...
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Stacking Wealth: The 5 Returns You Can ONLY Get From Real Estate Investing w/ Axel Meierhoefer
Money School Podcast
Most investors don’t fail because they pick the wrong stock or buy into the wrong trend. They fail because they never define success for themselves. They chase returns without knowing what a win actually looks like. Without a clear target and purpose, investing becomes guesswork, and the chances of losing money are higher. Worse, they choose methods that look cool instead of ones they actually understand. They don’t give themselves a hard out, so they hold too long or sell too soon. And often, they pick investment vehicles that only pay them in one way. That’s where real estate...
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Doctors Make Great Money Until They Don’t (The Passive Income Fix) w/ Dr. Jeff Anzalone
Money School Podcast
From the outside, doctors and dentists look like they’ve got it all: good money, respected careers, the kind of lifestyle most people want. But what almost no one talks about is how fragile that life really is. One accident, one injury, and the very hands that their entire career depends on can suddenly stop producing income. That was Dr. Jeff Anzalone’s reality after a skiing accident nearly ended his ability to practice dentistry. It forced him to realize: as much as medicine can be rewarding, it’s still trading time for money, and it can all disappear in an instant. The solution...
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4,000 Reviews, $1M in Refunds: The Ugly Truth About IULs w/ Jonathan Aguilera
Money School Podcast
Most people who buy life insurance never read the fine print. They’re promised “stock market–like returns without the risk,” a retirement account that doubles as a tax-free loan machine, and peace of mind for their families. On paper? It looks like the perfect product. But what happens when the math doesn’t add up, the illustrations don’t match reality, and families find out, years later, that the policy they’ve been funding is set to collapse? That’s the dark underbelly of the Indexed Universal Life (IUL) industry. And it’s exactly what my guest, Jonathan, aka the IUL...
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4,000 Reviews, $1M in Refunds: The Ugly Truth About IULs w/ Jonathan Aguilera
Money School Podcast
Most people who buy life insurance never read the fine print. They’re promised “stock market–like returns without the risk,” a retirement account that doubles as a tax-free loan machine, and peace of mind for their families. On paper? It looks like the perfect product. But what happens when the math doesn’t add up, the illustrations don’t match reality, and families find out, years later, that the policy they’ve been funding is set to collapse? That’s the dark underbelly of the Indexed Universal Life (IUL) industry. And it’s exactly what my guest, Jonathan, aka the IUL...
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Don’t Wait: How to Line Up Business Financing Before You Need It w/ George Otel
Money School Podcast
Most business owners only call the bank when they’re in trouble. Cash is tight, deals are falling apart, stress is mounting. By then? It’s too late. The banks shut the doors and wave at you from behind the glass. That’s the obvious mistake. The less obvious one? Not realizing the best time to secure financing is when you don’t need it. That’s when banks give you more, on better terms, and when private lenders are willing to play ball. That’s the theme of my conversation with George Otel, founder of U.S. Business Funding. He’s closed 400+ deals, from SBA loans to $50M...
info_outlineMost people who buy life insurance never read the fine print.
They’re promised “stock market–like returns without the risk,” a retirement account that doubles as a tax-free loan machine, and peace of mind for their families.
On paper? It looks like the perfect product.
But what happens when the math doesn’t add up, the illustrations don’t match reality, and families find out, years later, that the policy they’ve been funding is set to collapse?
That’s the dark underbelly of the Indexed Universal Life (IUL) industry.
And it’s exactly what my guest, Jonathan, aka the IUL Exposer, has dedicated his career to uncovering. He’s reviewed over 4,000 policies in just 18 months, uncovered systemic mis-selling, and even built a process that has helped families claw back over a million dollars in refunds.
Jonathan isn’t anti-insurance. He’s anti–false promises. His work shines a light on how commissions drive product design, why regulators are warning against IULs, and how clients are left holding the bag when agents disappear.
This episode isn’t about theory, it’s about hard numbers, legal battles, and the uncomfortable truths most of the industry hopes you never learn.
Things You’ll Learn In This Episode
-Illustrations are a trap
IUL projects steady growth that rarely happens. Why do clients still trust the numbers?
-Commissions drive the product
IULs are sold 10-to-1 over whole life because they pay the fattest commissions. What does that reveal about whose interests are really being served?
-Refunds are possible
Families often think their money is gone forever. How are some clawing back tens of thousands in refunds?
-Indexes aren’t what they seem
Synthetic “uncapped” indexes promise market-like returns but rarely deliver. How are clients set up for disappointment from day one?
Guest Bio
Jonathan Aguilera is the voice behind @lifeinsurancerefunds on TikTok and Instagram, a platform dedicated to exposing misleading life insurance practices, breaking down complex policies, and helping families recover money they thought was lost. Licensed since 2012, Jonathan once built a national agency of 250+ licensed agents with Primerica. But when faced with the choice to “stay quiet to stay compliant” or speak up for what’s right, he chose the latter. He resigned, surrendered his securities licenses, and walked away from everything he’d built to launch DTRT Financial, not just a company, but a movement. Jonathan isn’t the suit-and-tie advisor chasing commissions. He’s the guy who got fed up watching families get misled, overcharged, and under-informed. Through thousands of policy reviews, he’s exposed the harsh realities of cash value life insurance while educating the masses on how to make intentional financial choices. Visit IULExposer.com to learn more.
About Your Host
From pro-snowboarder to money mogul, Chris Naugle has dedicated his life to being America’s #1 Money Mentor. With a core belief that success is built not by the resources you have, but by how resourceful you can be. Chris has built and owned 19 companies, with his businesses being featured in Forbes, ABC, House Hunters, and his very own HGTV pilot in 2018. He is currently the founder of The Money School™, and Money Mentor for The Money Multiplier.
His success also includes managing tens of millions of dollars in assets in the financial services and advisory industry and in real estate transactions. As an innovator and visionary in wealth-building and real estate, he empowers entrepreneurs, business owners, and real estate investors with the knowledge of how money works.
Chris is also a nationally recognized speaker, author, and podcast host. He has spoken to and taught over ten thousand Americans, delivering the financial knowledge that fuels lasting freedom.
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