75-100k Whole Life for a 64 N/T F in TN?

[jacobtn]

Got a lady who has 4 old UL policies with various carriers, all adjustable premium UL with annual cost of insurance increasing dramatically. She has around 100k in DB. She is paying around $130 mth for all 4. It appears that she would be better dumping them now, and getting a permanent or UL product where she doesn't have to worry about outliving the cost effectiveness of her coverage.

Would fully underwritten RNA be the best choice? She is in TN. She is a little overweight but not much (5'6 160), takes "normal" meds for HBP, cholesterol, no tobacco or other health problems.

 

[bluemarlin08]

I can refer you to a local IMO that can help you, in TN.

 

[jdeasy]

Got a lady who has 4 old UL policies with various carriers, all adjustable premium UL with annual cost of insurance increasing dramatically. She has around 100k in DB. She is paying around $130 mth for all 4. It appears that she would be better dumping them now, and getting a permanent or UL product where she doesn't have to worry about outliving the cost effectiveness of her coverage.

Would fully underwritten RNA be the best choice? She is in TN. She is a little overweight but not much (5'6 160), takes "normal" meds for HBP, cholesterol, no tobacco or other health problems.

$100000 whole life with RNA would cost her $247/mo at standard and $227/mo at preferred. $50,000 is $130/mo.

Fully underwritten for all those amount at her age.

 

[BNTRS]

permanent or UL product where she doesn't have to worry about outliving the cost effectiveness of her coverage.

This isn't always true of GUL, so be careful.

 

[dgoldenz]

Based on what you posted she could get Preferred Plus with a few companies. Aviva = $1917/year, Banner = $1957, both to age 121. Genworth would be $1924/year to age 105 or $1303/year guaranteed to age 94 (30-year termUL). She could do a 1035 exchange with the current policies to get those premiums even lower. If they are that old there might not be any surrender charges left.

 

[jacobtn]

thanks for everyone's help! I am going to use AVIVA and dump in her 10k 1035 money, her premium guaranteed for life is $99.