- 24,957
May be tough to improve him enough to make sense. Maybe if the new plan had some additional living benefits.
36K Cash Value - SPWL?
- Thread starter Glen Shelton
- Start date
May be tough to improve him enough to make sense. Maybe if the new plan had some additional living benefits.
- Thread starter
- #12
- 1,900
I had someone mention Baltimore Life, I'm not familiar with them. Anyone have an idea of what their SPWL looks like?
- Thread starter
- #14
- 1,900
Yes I believe so.
If so his db should continue to grow a little each year. Based on where he is - my guess is he's not going to gain anything by moving to a different product.
- 2,632
Move half 36k to annuity and set it up to pay income to him for about 5 years, take the other half and stick it into another annuity (high interest). Whatever the first half produces in monthly income is what you use to get him as much WL as possible, do the math and figure out when the point of diminishing return is, it should be past his expected death. He increases his net worth and it all get transferred to his beneficiaries quickly and tax free and didn't cost him a dime and you make 3 commissions.
Just a thought of the top of my head.
Just a thought of the top of my head.
- 16,877
That would be the dream of us all. Numbers won't come close.
$18,000 in an annuity might pay the premium on a $12,000 life policy I figure.
High income is 3.5% these days (because of how GWB set up President O'Bamma) so if he lives 10 years that one would be $22,000 give or take. You are turning $36,000 cash into a $35,000 ish death benefit IF he gets 10-years of interest.
That's off the top of my head but I'm sure it's optimistic.
- 2,632
Yeah I was doing it off the top of my head also but the dude is 84 so anyway it was a thought
- Thread starter
- #19
- 1,900
Speaking of the annuity though...
The dude has 56K sitting in a really low interest 403b, maybe a combo roll?
- 16,877
Annuities for 80+ years olds pay low commissions for a reason. It's not encouraged and better put him in a way better position if he starts new surrender charges at that age.
Better off finding some younger seniors to sell annuities to.
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