Wanting to add a term company

[WinoBlues]

Unfortunately, due to his age, the highest coverage I can offer to him will be $30,000, by that age we consider them to be self-insured. Sorry, wish I could help!

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30,000 to age 100?
Is that FE or FU?
What would be the Quarterly premium?

 

[dcollins]

Yes, $30,000 to age 100 this is term life insurance. It'll be approximately $1,100Q.

 

[Tahoe Ray]

I'll try one. I just got a referral from one of my companies.

Male age 75
Std Non T

Has a imploding UL.
$100,000 with about $25,000 in SV.
Paying just over $1,200Q
Per annual report it is going to force lapse in 13 years based on current.

Wants - $100,000 to at least age 100

Just for S&G, what do you suggest. Hypothetically of course.

Also: HasTa TA term plan that he is unsure of the details and can not find the policy. We will do a three way call Friday. But currently just want options on the above.

Pac Life GUL.

With the 1035, 100k face would be 845/q, guaranteed to age 100 (7200 target too )

951/q to age 121.

 

[WinoBlues]

Pac Life GUL.

With the 1035, 100k face would be 845/q, guaranteed to age 100 (7200 target too )

951/q to age 121.

I hadn't run the numbers yet, but 1035 is definitely going to be in the mix.

So, does Pac Life have a rolling target? Nice!

 

[Tahoe Ray]

I hadn't run the numbers yet, but 1035 is definitely going to be in the mix.

So, does Pac Life have a rolling target? Nice!

They do but it wouldn't matter w/ the 1035.

 

[WinoBlues]

They do but it wouldn't matter w/ the 1035.

Right. Just thinking sometimes these guys start mentally spending the SV. So I like to have alternatives in my back pocket.

Thanks

 

[Tahoe Ray]

Just thinking sometimes these guys start mentally spending the SV. S

I had a client who wanted to do that and we just made a first-year payment that was large enough to get the premiums to the same amount he was paying previously and then he spent the rest lol.

 

[WinoBlues]

I had a client who wanted to do that and we just made a first-year payment that was large enough to get the premiums to the same amount he was paying previously and then he spent the rest lol.

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That is going to be my fall back if he won't do the whole 1035.
I haven't run the numbers yet, but at 75 and only $25,000 not sure if there is a significant short pay option.

But I think your idea is a win win. I'll dial it down to $1,100Q. He gets the longevity he wants, some play money, and a lower payment.

That Tahoe dude is a Ray of sunshine

 

[Allen Trent]

Hi, I would be interested in seeing what I can do for her?

This isn't tinder

 

[Allen Trent]

I'll try one. I just got a referral from one of my companies.

Male age 75
Std Non T

Has a imploding UL.
$100,000 with about $25,000 in SV.
Paying just over $1,200Q
Per annual report it is going to force lapse in 13 years based on current.

Wants - $100,000 to at least age 100

Just for S&G, what do you suggest. Hypothetically of course.

Also: HasTa TA term plan that he is unsure of the details and can not find the policy. We will do a three way call Friday. But currently just want options on the above.

Have you looked at a single pay no lapse GUL or or IUL for pure protection? Current CV might get him close to $50k guaranteed face. Could then use the premiums he wants to pay for another layer of new WL/FE or no lapse GUL, etc.