CASE STUDY 3

The Background

A 84 year old male had three policies. One policy through Protective Life and the other two with West Coast Life.

The policies had face amounts of $190,000, $200,000 and $330,000. The total annual premiums on the policies were approximately $36,000.

The insured was using the cash value of the policies to pay the premiums. His cash surrender value on all three policies totaled only $21,600.

The Problem or Challenge

The insured resided in an assisted living center. He was paying for his long-term care

out of pocket. He was struggling to pay this on going expense.

The Source of the Lead

Internet(website)

The Solution

The policy received a purchase price of $288,000.

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