Target Market

Age: Max age 60

Budget / Premium: $250/mo. + (ideally you wouldn’t want to do less than this); The older the client the bigger the minimum.
Income: $100,000 – $500,000

Target: The client has both a need (or a want) for a specific amount of insurance and has an ability to save a significant amount. If you fund to total amount of cover desired in cash value life insurance the premium is sometimes more than a client can afford so you may need to balance term and cash value. The ideal client is typically saving over what their employer is matching in their 401k or they are saving into a non-qualified brokerage account. They are also concerned about future taxes and may not qualify for a ROTH IRA. In addition, they may not like the restrictive nature of qualified plans (penalties for early access)

Illustration Requirement

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

1. Start with an illustration for your cash value product run with a specified death benefit and premium at maximum non-mec. Be sure to include loans for income at ages 66-100 (You can run loans in whatever years you choose)
2. Run a 10-, 20- or 30-year term with the same death benefit as your cash value product, enter the term length and annual premiums in the concept inputs, under term cost and length of term
3. Select the insurance carrier you are uses under carrier
4. Upload the illustration file or P1 spreadsheet
5. Select the images you would like to use under the demographics list
6. Click Generate
7. Click Export PDF to download the PDF
8. Changing Assumptions

Changing Assumptions

• To change assumptions, click on the above tab for default calculation inputs
• Here you can change the income start and end years as well as the rate of return, asset charges and tax rate for the side fund.

Sample Illustrations

Use this PDF to generate a sample illustration utilizing this concept.