Higher Death Benefit Starting from 31st Year of IUL

Nov 5, 2015

  1. pbar
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    pbar Expert

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    Is it possible to design an IUL policy with the minimum DB now like 500K and increase that DB to 3 million after 30 years(without medicals)? The idea is to have a 30 year term policy for 2.5 DB as its cheaper.
     
    Last edited: Nov 5, 2015
    pbar, Nov 5, 2015
    #1
  2. Norwayguy
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    Norwayguy I have spent way too much time here.

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    Try 2 policies IUL and convertable term.
     
  3. pbar
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    pbar Expert

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    is there a 30 year convertible term? i thought it is only available as 10 year convertible term.
     
    pbar, Nov 5, 2015
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  4. DHK
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    DHK "YOU CAN'T HANDLE THE TRUTH!"

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    DHK, Nov 5, 2015
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  5. pbar
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    pbar Expert

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    pbar, Nov 5, 2015
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  6. DHK
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    DHK "YOU CAN'T HANDLE THE TRUTH!"

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    According to the North American page on ADDvantage Term:

     
    DHK, Nov 5, 2015
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  7. pfg1
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    pfg1 Guru

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    Also, if you run a max funded IUL with increasing face, 30yrs from now it should be much higher than $500k. Doubt you could get to $3m but my gut says it might be half that. ? You probably know that.
     
    pfg1, Nov 6, 2015
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  8. WinoBlues
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    WinoBlues Guru

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    The other question should be what the conversion options are. Some will be any permanent products, others will be any product available for conversion. Many products available for conversion stink.

    Also available products change.

    Times have changed.
     
  9. EAJoe
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    EAJoe Super Genius

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    Minnesota Life's 30 year term has a standard 10 year conversion window, but you can extend it to the full 30 years for an additional cost of 3% of the base premium. They allow conversion to any of their permanent products.
     
    EAJoe, Nov 6, 2015
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  10. bill3173
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    bill3173 Guru

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    No kidding..had one that wanted to convert with a particular carrier and his options were a non-gul or whole life and for a bonus, the contestable period starts all over again, which is apparently legal in NC.
     
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