Case Details
As part of his retirement package, a retiring CEO received an $11 million term policy. Since he had no desire to maintain the ongoing premiums, his advisor suggested having the policy valued by Coventry First to determine its market value. The client opted for a Coventry First life settlement which enabled him to reach his goal of establishing a $2,750,000 million trust for his grandchildren.
Life Settlement
Policy
Universal Life
Insured
Female, age 87
Face Amount
$6,500,000
Cash Value
$705,000
Coventry First purchased the policy for $2,500,000.
Case Details
The client was still paying premiums in the tenth year of her seven-year vanishing premium policy. She was unhappy with the policy’s performance, but needed life insurance for estate planning purposes. Her attorney recommended having the policy appraised by Coventry First to determine its market value. The client chose a Coventry First life settlement which yielded more than three times the cash value of the policy. She used the proceeds to obtain more efficient coverage and meet her estate planning goals.
Life Settlement
Policy
Multiple Whole Life & Universal Life
Insured
Female, age 83
Face Amount
$12,000,000
Cash Value
$2,400,000
Coventry First purchased the policy for $4,300,000.
Case Details
The client’s current policies were underperforming. Her advisor, understanding her need for insurance for estate purposes, suggested a Coventry First life settlement. The market value of her policies provided her with $1.9 million more than the cash value in her old policies. Using the proceeds from the life settlement, she was able to obtain a new $15 million guaranteed death benefit policy. Although the cost per thousand for the new insurance was higher, the premium outlay was 30% less after the income from the life settlement.
