Helped Needed....does Anyone Offer 100k Second-to-die?

CFP83

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I've got a client who wants to purchase a $100,000 second-to-die policy.

I presented he and his wife the concept of 2nd to die after he expressed a desire to ensure that he and his wife leave a guaranteed inheritance to their children. All carriers I have available go no lower than 200k as a minimum on 2nd to die.

Any help here is greatly appreciated!
 
If the inheritance is to be passed at the 2nd death, why not just insure the healthiest one. If the insured dies 2nd, it's just like 2nd to die. If the insured dies first, the 100k sits in an account until the other dies, then goes to the kids.

EDIT - or name the kids the beneficiary outright if there's a concern over estate / transfer costs at the 2nd death?

Am I missing something?
 
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Second-to-die will most likely come out way cheaper initial outlay wise vs. a single insured policy. I've done this few times and compared both, and second-to-die has come out on top each time.

LFG is an option, Mass and Guardian are also options for this.
 
Thanks for the helpful info here guys. My IMO told me Lincoln's minimum was 200k....they are useless.

To respond to your thoughts/questions Larry, I often use second-to-die policies for legacy/charitable/estate planning. If you have TWO healthy insureds there is no cheaper way to own a permanent policy. Also, if your looking to use overfunded cv life insurance as an asset class for retirement income, a second-to-die IUL is hard to beat in terms of IRR on cash-value. Think about it...your spreading death costs over two lives instead of one.

Google Barry Kaye sometime.....he was right up there with Feldman in terms of lifetime production. He wrote several books, one of the more famous is "Die Rich". Kaye worked with extremely high-networth clients, charities and endowments utilizing life insurance for either maximizing death benefit or tax-free cash accumulations.....his product of choice was second-to-die UL.

Reading Die Rich about 4 years ago opened up my mind to opportunities I hadn't even thought of before. Since I've written a couple dozen 5 digit annual premium cases utilizing second to die.

Give it some thought, and by all means, hop on ebay and buy die rich for $5 or $10
 
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Thanks for the helpful info here guys. My IMO told me Lincoln's minimum was 200k....they are useless.

To respond to your thoughts/questions Larry, I often use second-to-die policies for legacy/charitable/estate planning. If you have TWO healthy insureds there is no cheaper way to own a permanent policy. Also, if your looking to use overfunded cv life insurance as an asset class for retirement income, a second-to-die IUL is hard to beat in terms of IRR on cash-value. Think about it...your spreading death costs over two lives instead of one.

Google Barry Kaye sometime.....he was right up there with Feldman in terms of lifetime production. He wrote several books, one of the more famous is "Die Rich". Kaye worked with extremely high-networth clients, charities and endowments utilizing life insurance for either maximizing death benefit or tax-free cash accumulations.....his product of choice was second-to-die UL.

Reading Die Rich about 4 years ago opened up my mind to opportunities I hadn't even thought of before. Since I've written a couple dozen 5 digit annual premium cases utilizing second to die.

Give it some thought, and by all means, hop on ebay and buy die rich for $5 or $10


Thanks again for sharing.

When CFP83 talks, I listen (and take notes.) this guy knows his stuff.
 
Protective's minimum face is $250k, ING I believe is 200k.

To reply to Larry, my own Grandma and Grandpa situation... Grandpa had a heart attack, still smoked, drank heavy, Grandma was a lean mean gardening machine. Naturally, against all odds, Grandma died first(accident) and Grandpa lived another 8 years embalming himself pre-mortum. Life moves in mysterious ways.
 
Protective's minimum face is $250k, ING I believe is 200k.

To reply to Larry, my own Grandma and Grandpa situation... Grandpa had a heart attack, still smoked, drank heavy, Grandma was a lean mean gardening machine. Naturally, against all odds, Grandma died first(accident) and Grandpa lived another 8 years embalming himself pre-mortum. Life moves in mysterious ways.
I understand that the order of death can go either way, and I can see that a 2nd-to-die works in this case.

I also know there are situations where 2nd-to-die is the default consideration yet a single-life option works just as well. And in this case, it seems that a 2nd-to-die at 100k is harder to find than a single-life policy.
 
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