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 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.