During the last few weeks we have worked on dozens of life, long term care, disability and annuity cases working alongside our Advisers.
If you are not discussing these issues with your clients then who will?
Case 1
93 year old in good health looking at a forced annuitization and doesn’t want the income. What to do?
Client has an annuity with a value of $1,800,000 and a cost basis of $1,100,000. She believes she isn’t leaving this world any time soon and doesn’t want to be forced to start taking income. Her two daughters will be beneficiaries and want to keep options open also.
Luckily, we have an indexed annuity option that issues to age 93. The Standard Indexed Select Annuity with an S&P 500 cap today of 4.75%. Good upside potential. However the company has a $1,000,000 limit without prior approval. We requested an exception and received approval for $1,500,000. Additional good news, The Standard accepts partial 1035 amounts and the releasing annuity company also honors partial 1035’s. The balance will be placed in Legacy Care with State Life.
Case 2
Solid Premium Finance Case. Female single age 70 with net worth of $35,000,000. Liquid assets over $3,000,000 and income of over $800,000 annual.
$7,000,000 current life insurance needed with rising death benefit to help offset estate tax burden. Case designed by advanced markets team…
Life Premium $732,676 for 10 years – client out of pocket $325,000 for 15 years. Repay loan of just under $5,000,000 in year 16 from cash value of life insurance. Net death benefit at life expectancy of about $13,000,000.
Expected IRR of over 7.0% through age 90.
Have a potential large case. Call us today. (800)238-8144
Call or E-mail Nancy Woo to discuss a life or LTC case today.
E-Mail: Nancy Woo
(800)238-8144 x103
Call or E-mail Sean Sahin to discuss an annuity or LTC case today.
E-Mail: Sean Sahin
(800)238-8144 x120
Tim Morton, CEO, anytime about any case or marketing program
E-Mail: Tim Morton
(800)238-8144 x127
Your Westland Team