Heart Disease?

[theTerminator]

Well I owed it to him to try. This particular client has a good amount of income and savings.

I'm thinking the best way to leverage his money is with a single premium UL. There is no underwriting, and with a $150k dump in we can get 300k of death benefit, with a guaranteed return of principal if he doesn't want it down the road. The side fund in the UL actually pays pretty good and the surrender period is only 3 years.

 

[HarryRenard]

I wish i had a company that would do that W/O underwriting (150k prem for 300k DB) and guaruntee the principal. Who do you suggest for that.

 

[theTerminator]

I wish i had a company that would do that W/O underwriting (150k prem for 300k DB) and guaruntee the principal. Who do you suggest for that.

It's a NYL product.
Instant Legacy™ Universal Life Insurance At-a-Glance

There are 3 questions, one of which is a multi part question (In the past 5 years have you had any of the following).

From what I know he can answer no to all the questions, so he'll get issued.

The nice part about it is he can end the policy anytime he wants and get his money back, so it's kind of a wash. Just moving his money from one pocket to another, taking money out of his estate, and creating tax free death benefit.

And it's not always 150k for 300k. It depends on the age of the person, and the max DB is 300k. For a 35 year old it would cost 75k for the 300k. For the particular client above, 150k creates 300k.