$1.5M in Life Insurance Secured on 22 Physicians!
A physician group
- A physician group needed $1.5M of life insurance on 22 physicians executives to fund key man insurance coverage.
- Interested in streamlined underwriting.
Recommended Plan Design
This plan design met all Guaranteed Issue Guidelines and readily secured approval to be implemented.
AT A GLANCE
Guaranteed Premium Individual Term Life Policy
Annualized Life Premium
Owners secured a $1.5M policy to fund the key man life insurance.
Everyone secured a 10-year, guaranteed level premium individual term life policy.
- Readily portable at termination
- Convertible to permanent insurance to continue coverage beyond 10 years on a cost-effective basis.
Annualized Life Premium: approximately $190k securing $33,000,000 in total death benefit on physicians.