Estate Problem Solved

Dorothy is a retired executive with a considerable amount of assets and a complicated health history. She already has $5m in life insurance coverage and still has a need to leverage her money more efficiently. She is also concerned about the distribution of her estate, according to her wishes, after her death. While working with an Estate Attorney and a Financial Advisor, it was recommended that she purchase another life insurance policy to be used as a source of liquidity at her death. 

The tax-free death benefit can be used to:

• Pay Dorothy’s estate taxes 
• Create an estate for her beneficiaries 
• Equalize inheritance among her beneficiaries or
• Leverage annual gift tax exclusions 

The Solution

Female, age 69, Issued Standard Nonsmoker due to a complicated medical history

MVP’s Underwriting Director shopped this case to several carriers before an application was written. Most carriers were quoting best case scenarios as Standard with a T6-8 rating. The carrier that won the business used a healthy life-style crediting program as well as table shaving to get the case to Standard. 

The Policy:

• $1.5m level death benefit with a Lapse Protection Rider, Dorothy’s irrevocable trust is the owner and beneficiary
• Universal Life Policy 
• $38,000 annual premium 

First Year Target Premium: $41,500