Looking for Life Insurance Company

nobis · 10-14-2009, 03:43 AM

Looking for life insurance company for a 90 years old. Looking to do a single premium paid up policy. If you know or work for a company that can issue a policy for a 90 years old please let me know.

Markingriffin · 10-14-2009, 04:02 AM

Originally Posted by nobis

Looking for life insurance company for a 90 years old. Looking to do a single premium paid up policy. If you know or work for a company that can issue a policy for a 90 years old please let me know.

TO keep this short, just don't waste you time on it. If you found one he would have to pay $9,999 for $10,000.

GreenSky · 10-14-2009, 04:15 AM

Of course, that would transfer the entire $10K tax free so might be worth the time - especially if it was more like 250K.

Rick

Marpol · 10-14-2009, 11:59 AM

Genworth
ING
Hancock
AG
MassMutual
Pru

All will write a 90 y/o

Also instead of a single premium you will probably be better off using the lump sum in a Life Only Pay SPIA and writing a life pay UL. It will give your client more DB. Almost always works better then a single premium. Also you may need to back date depending on birth date) as some of the carriers I listed are nearest age.

M*R · 10-17-2009, 12:05 AM

Also consider the concept of transferring into an annuity with a death benefit rider. Could give them a better return.

Marpol · 10-17-2009, 05:09 AM

Originally Posted by M*R

Also consider the concept of transferring into an annuity with a death benefit rider. Could give them a better return.

Worth a shot....I like the idea.

insuranceexec · 10-17-2009, 05:33 AM

Originally Posted by M*R

Also consider the concept of transferring into an annuity with a death benefit rider. Could give them a better return.

I know of NO annuities with DB riders that you can write past the age of 74; please enlighten me.