Single Premium WL

[Todd King]

Hahaha, I like the use of parentheses.

One last piece of the puzzle...she wants Single Pay, which is why I suggested the Love Company's Bronze plan earlier, but she insists on 1st day coverage so I guess she's SOL.

I understand, but that's why we were talking about going with an annuity and then getting an FE policy in place. She could fund the FE policy with the annuity if she had to.

 

[goillini52]

I understand, but that's why we were talking about going with an annuity and then getting an FE policy in place. She could fund the FE policy with the annuity if she had to.

I missed that. That's what I get for reading with my left eye(I'm right handed).

 

[Allen Trent]

Hey guys,

Hoping you could help me make sure I've looked at all the options for this client. She's 63 and in TX. Has a tanking UL with a little over 12K left in net cash value. We're wanting to 1035 that into a Single Premium whole life ideally starting out at 20-25K face. Here are the issues:

Diagnosed with MS in 1985. Very well managed though with oral meds injections. No tremors, or assistance needed with moving around or anything like that. She really looks great.

Has HBP and an uses an inhaler when her asthma acts up due to allergies. Also, not the best build. 5'7 and 291lbs.

Looked into Assurity and Oxford. MS appears to knock her out with Oxford. Having a hard time finding a build chart for Assurity. Any other good options?

TIA

Who is the current UL with?

The carrier I represent offers all UL clients over 7 yrs in force to convert without underwriting to either a Paid Up WL ( near identical to SPWL with as low as $5k face & it is participating) or if the client has no cash or doesnt want to lose face amount going paid up, they can convert to a premium paying participating WL policy for as much as their UL policy face amount is currently.

Also, 2 of the 5 versions of that same carriers UL products over the years also have death benefit option 3 (reduced paid up) which would function to provide a reduced face amount with no more premiums but retain the UL chassis for interest & withdrawals.

So, I think you would be doing your best to seek out what her current carrier offers

I know the 3 items I mention above are extremely rare in the industry from what I am told, but your client might have an option with the current carrier as her insurability doesnt sound good & she would have to deal with a 2 year contesitibilty even if she could get approved

 

[MosesNewmanNAAIP]

I love Oxford.