Target Market

Target: Grandparents that are concerned about their children’s and grandchildren’s future. They have money that is idle or are not using all their retirement income due to excessive RMDs or pensions.

Age(s):

• Generation 1 (Grandparent/Owner): 60 – 75
• Generation 2 (Child/Insured): 30 – 50
• Generation 3 (Grandchild/Beneficiary): 1+

Budget/Premium: Generation 1 (Grandparent/Owner) should be able to commit to $12,000/yr for 10 years

How it Works:

1. Generation 1 (Grandparent/Owner) purchases a permanent life insurance policy insuring their adult child (Generation 2). As the owners of this policy, Generation 1 has the flexibility to access cash values if their needs change during their lifetime.
2. Upon Generation 1’s death, a multigenerational trust, created by Generation 1, becomes the owner and beneficiary of the life insurance policy.
3. The income beneficiaries of the multigenerational trust can include the adult children (Generation 2) and/or the grandchildren (Generation 3). The trustee can access the policy cash values as outlined in the trust, based upon the planning goals and wishes (e.g., support and education funding) of Generation 1.
4. The trust receives the death benefit at the insured’s (Generation 2’s) death providing a legacy designed to have an enduring impact for the grandchildren (Generation 3).

Illustration Requirement

Typically, you are targeting a specific premium amount with this proposal.

1. Start with an illustration for your cash value product. Be sure to include loans for income at ages 66-100 (You can run loans in whatever years you choose). This illustration will represent income for Generation 2.
2. Create an additional illustration with the same premiums but no loans, this illustration represents leaving a legacy for Generation 3.
3. Run a final illustration with loans from year 11 – 30, this represents income for Generation 1.
4. When you are uploading the illustrations to our software, select the insurance carrier you are using under carrier.
5. Click upload, a new box will popup, hold the CTRL button and highlight the appropriate three illustration files OR excel spreadsheets.
6. Select your demographic image set
7. Click “Generate.”
8. Click “Export to PDF” to download the presentation