- 1,641
Who will write this large?
If several, who has easiest underwriting or best factor?
If several, who has easiest underwriting or best factor?
$1,000,000 SPWL for 80 Y.o. Female
- Thread starter padthaiforlunch
- Start date
- 1,802
The Standard and Lincoln National both have good SPWL products with good underwriting.
I am curious; have you considered a SPUL? I recently got an 84 year old man a 6,000,000.00 SPUL policy issued (Table 2) thru North American.
A good opportunity for more death benefit, which would help the "Wealth Transfer" cause. I hope this helps........
SmartMoney
Expert
- 46
Isn't this mostly a case by case question since it hinges on the net amount at risk? Thats awesome that you got an acceptance for a 6 million dollar deal... Whats NA's requirement?
- 1,802
You are correct, it is a case by case question.
NA's only requirement is that you have the money to pay the premium........LOL Just kidding.
NA and Lincoln both have more liberal underwriting than most when it comes to senior citizens.
I know John Hancock touts "bring me your un-healthy, wealthy, and wise;" but I have yet to get a decent quote back from them on one of my larger cases.
That must have been a nice payday....what was the premium? Compulife shows the premium at standard rates for an 84 year old male at $4,613,000 as the lowest of all carriers with United of Omaha....a table 2 rate would effectively make the premium higher than the death benefit, which wouldn't make any sense.
To answer the original question, I show Aviva, West Coast Life, Sun Life, and Genworth that will do a SPUL for an 80 year old woman. At standard rates, Aviva is cheapest at $529k, next is WCL at $549k. At preferred, Aviva is $471k and WCL is $475k. Not sure about a SPWL, but I'd guess the numbers to be higher than either of those...
- Thread starter
- #6
- 1,641
Thanks, we're looking at $1 mil of premium.
fyi, NA pays 95% of target and 1.5% on premium over target.
All you need is two cases a year and you can spend your days schmoozing at the country club to get that next sale.
fyi, NA pays 95% of target and 1.5% on premium over target.
All you need is two cases a year and you can spend your days schmoozing at the country club to get that next sale.
- 202
i dont' know anything about life insurance. why would someone pay a million dollar premium for a million dollar death benefit?
If we tell you... then you will no longer be able to make the first claim; "I don't know anything about life ins".
- 202
i apprecaite you trying to protect my ignorance. can someone answer my question?
- 1,271
Yes but what's the target? I'm a WL guy all the way but for 80 yr old GUL would make much more sense.
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If you expect to pay taxes on your estate you can use lifetime gifting exemption of 1mm to fund an Irrevocable Trust. Death Benefit is almost always higher than the single premium (unless the insured lives past 100) and it can benefit the heir without any taxes.
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