Ideal Single Premium Source
Existing Annuities and Qualified Plans
SPOUSE #1 NQ/Q ACCOUNT CAN NOW FUND LIFE INSURANCE ON SPOUSE #2!! |
| Issues Ages - 60 - 80 |
Underwriting Classes
Nontobacco and Tobacco
Standard – Table 4
|
Point of Sale Underwriting
YES – Over 90% POS Decisions |
| Minimum Premium - $5000 |
Partial Withdrawal Options
From available cash value after WL policy is paid up (policy year 7 or 10)
|
| Loans - From available CV at Maximum Rate of 8% |
Accelerated Death Benefit
(Included at issue in approved states)
• Terminal Illness – 75%
• Nursing Home – 50%
• Extended Care / Home Health Care / Adult Day Care – 50%
$100 Admin Charge and 8% interest on ADBR lien deducted from face amount of whole life policy |
Maximum Face Amount
SPIA single premium that purchases up to $450,000 for whole life policy
|
Death Benefits
Face amount of whole policy and remaining payments from SPIA |
|
Ideal Single Premium Source
After Tax Cash Vehicles (CD, Money Market, 1035 Exchanges)
|
| Issues Ages - 50 - 85 |
Underwriting Classes
Nontobacco and Tobacco
• Level 1: Standard – Table 4
• Level 2: Table 5 – 8 |
Point of Sale Underwriting
YES – Over 90% POS Decisions |
| Minimum Premium - $5000 |
Partial Withdrawal Options
• Year 2 – 10%
• Year 3 – 20%
• Year 4 – 30%
• Year 5 – 40%
• Year 6+ – 100% of available CV |
| Loans - From available cash value at a maximum rate of 8% |
Accelerated Death Benefit
(Included at issue in approved states)
• Terminal Illness – 95%
• Nursing Home – 90%
• Extended Care / Home Health Care / Adult Day Care – 80%
• $250 Admin Charge
• Partial Acceleration available
|
Maximum Face Amount
Maximum Net Amount at Risk:
Level 1 (Standard – Table 4)
50 – 80 – $250,000
81 – 85 – $150,000
Level 2 (Table 5 – 8)
50 – 80 – $200,000
81 – 85 – $130,000 |
Death Benefits
Face amount of SPWL
|
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