Whole Life Insurance Success Story

A 57-year old male owned two whole life insurance policies and one term policy with a total combined coverage of $385,000. One policy had an outstanding loan balance of $36,000. Net cash value was $38,000 and the ongoing annual premium was $9,800 per year on all three policies. His needs had changed and he no longer required the coverage for the full term.

With Legacy Quote:

• Three policies were reduced to one.
• The new policy was a 15-year level term policy with a $400,000 death benefit and an annual premium of $2,800
• The policy with the outstanding loan balance was cancelled.
• The premium savings over 15 years compared to the prior insurance program was $105,000.