Our Client was concerned about receiving benefits on a $450,000 Life Insurance policy issued 10 years prior.
Their Life Insurance policy was originally projected through age 95. A Life Insurance review determined their policy would actually lapse at age 76 or require them to pay a much higher premium, based on the conditions at that time.
We were able to exchange the insured’s policy, without increasing premium or reducing death benefit, to assure coverage regardless of their age at death.
Our 76-year-old Client worried what benefits he might receive on a mature Life Insurance policy.
A performance review revealed their
$400,000 policy would lapse in 2 years at
their current premium of $5,400. To keep the policy through age 80, they would have to double their premium. They didn’t need their policy, but hated to give it up for a $16,000 value after paying $111,000 in total premium. We suggested Life Settlement, which he discussed with his attorney.
Our Client obtained a $141,000