Insured: FEMALE, AGE 84
In-force Policy Analysis: The client does not need the annuity for income. Instead, she wishes to pass it on to her heirs. Convert the annuity into a SPIA and use the payments to fund a universal life.
Solution and Result: Generated an income stream of $61,700/year, which spreads out the gains and eases the tax burden for the client while she is alive. The payments will purchase a UL with a death benefit of $739,000 tax-free for her heirs.