Million Dollar Baby

[jn8691mr]

Does anyone go after this market? The concept is to use an IUL on the baby. Approximately $100 per month when the baby is 1-6 ... $150 per month during years 7-13 ... $200 per month years 15-18 .... At that point, they'd be able to take $10,000-$15,000 per year for the next 4 years to help pay for college ... At age 30, the insured would be able to take approx $25,000 for a down payment on a home and at age 65 would have a tax free stream of income.

 

[robertjrussell]

yes and the process is very simple and effective. What else would you like to know?

 

[jn8691mr]

I don't have a huge book to go after current clients and referrals ... What is the best way to get a list of recent births in my area? Open to other suggestions of ways to get in front of these people.

 

[tlmarketing]

Does anyone go after this market? The concept is to use an IUL on the baby. Approximately $100 per month when the baby is 1-6 ... $150 per month during years 7-13 ... $200 per month years 15-18 .... At that point, they'd be able to take $10,000-$15,000 per year for the next 4 years to help pay for college ... At age 30, the insured would be able to take approx $25,000 for a down payment on a home and at age 65 would have a tax free stream of income.

What rate of return are you assuming with those numbers?

 

[hockeyday]

Does anyone go after this market? The concept is to use an IUL on the baby. Approximately $100 per month when the baby is 1-6 ... $150 per month during years 7-13 ... $200 per month years 15-18 .... At that point, they'd be able to take $10,000-$15,000 per year for the next 4 years to help pay for college ... At age 30, the insured would be able to take approx $25,000 for a down payment on a home and at age 65 would have a tax free stream of income.

what rate of return are you running this at? what are you going to pay years 18-65?

 

[jn8691mr]

Carrier ran it at 6.9%

 

[dgoldenz]

Life insurance as an investment for a baby....as opposed to an actual investment...what could possibly go wrong?

 

[Gulfman]

Carrier ran it at 6.9%

6.9% ???

Is that compounded or straight interest?

How was this rate determined?

 

[jn8691mr]

Life insurance as an investment for a baby....as opposed to an actual investment...what could possibly go wrong?

Why the cliff hanger? Go on lol ....

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6.9% ??? Is that compounded or straight interest? How was this rate determined?

I asked the carrier to work up a scenario and it's the rate they used

 

[jboussea]

Does anyone go after this market? The concept is to use an IUL on the baby. Approximately $100 per month when the baby is 1-6 ... $150 per month during years 7-13 ... $200 per month years 15-18 .... At that point, they'd be able to take $10,000-$15,000 per year for the next 4 years to help pay for college ... At age 30, the insured would be able to take approx $25,000 for a down payment on a home and at age 65 would have a tax free stream of income.

You'd have to assume the parent is insured already ... correct? cause it's best to have the policy on the parents just in case they died . then the baby should have adequate funds for college