Whenever we purchase goods or services, they generally come with standard terms and conditions, which will include responsibilities of the seller and the buyer. This will also typically include warranty information and a description of the circumstances in which you can return and get reimbursed for the goods and services you purchased. Similarly, contracts for […]
You have probably heard that term insurance is the most efficient way to purchase life insurance. Suze Orman has been saying that for years; she is right. The cost of term life insurance is lower because there isn’t an accumulation of cash value like other policy types. Your premium payments are used exclusively to pay […]
A 19 year old female was the recipient of 5 annual future payments of $24,084.13 from Allstate Life Insurance Company. This structured settlement was the settlement on a lawsuit regarding her mother’s death at a hospital.
A 66 year old male had a $5,000,000 life insurance policy. Business Tagline or with Lincoln Financial. The annual premiums were $250,000. The cash surrender value was only $2,000.
A 69 year old male had a $3,000,000 insurance policy Business Tagline with Phoenix Mutual. The annual insurance premiums were$180,000. The cash surrender value was only $7,000.
A 70-year old retired executive had a $1,000,000 term policy from Prudential with annual premiums of $26,000.
A 75 year old man had a $1,000,000 universal life policy with Genworth. The annual premiums were $32,000. There was no cash value.
An 80 year old man was the insured on a $10,000,000 key man life insurance policy with AIG. The company he owned was the owner of the policy. The annual premiums were $30,000 a year. The policy only had a cash surrender value of $13,000.
A wealthy 82-year old female had a $3,000,000 insurance policy with MetLife with a cash surrender value of $425,000. She no longer wanted to pay the $90,000 in annual premiums.
An 81 year old male had a total of $15,000,000 in life in-surance from New York Life. The $10,000,000 policy had an annual premium payment of $583,000. The $5,000,000 face amount had an annual premium payment of $424,000. The combined annual premiums were $1,007,000. The combined cash surrender value on the 2 policies was only $347,000.