A university had a portfolio of donated life insurance policies. Two of the policies in their portfolio were a $1,000,000 life insurance policy from Prudential insuring a 79 year old male. The annual premiums were $60,000 with a cash surrender value of only $8,036. The second a $500,000 life insurance policy from West Coast Life insuring an 81 year old female. The annual premiums were $51,000 with no cash surrender value.
The Problem or Challenge
The university needed to maintain their budget and continue to pay premiums on their entire life insurance portfolio.
The Source of the Lead
Networking with an alumni who sat on the board of the directors of the university.
The $1,000,000 policy was sold for $175,000 and the $500,000 policy was sold for $100,000. This allowed the university to pay premiums on their portfolio of policies.