Insured: HUSBAND, AGE 70: WIFE, AGE 76
Underwriting Factors: Husband – Hypertension controlled with medication, rated standard non-smoker by in-force carriers. New carrier offered preferred. Wife – Slight build problem. Preferred offered.
In-force Policy Analysis: Current ledgers project one of the two policies to lapse at age 96 and the other policy to carry at a total funding level of $49,748. Guarantees were to ages 82 and ages 87
Solution and Result: Either reduce annual premiums to $30,163 and guarantee $2,000,000 for life OR increase premiums to $51,158 and guarantee $3,000,000. Client chose to purchase the additional $1,000,000 in coverage for only $1,410 more per year.