Coventry: Ideal Candidates for SWAPP


SWAPP
Policy	Universal Life
Insured	Male, age 73
Face Amount	$5,000,000
Cash Value	$272,000
In addition to providing the policyowner with $272,000 for their policy, Coventry First enabled the policyowner to maintain a $1.7 million death benefit with no future premium obligations.
Click for More Case Details The policy was originally purchased by two siblings as part of their father's estate plan. The estate had since lost value, reducing the need for the current level of life insurance. After obtaining a life settlement offer of approximately $910,000, their advisor suggested SWAPP as an alternative. Coventry First purchased the policy for $272,000 and the policyowners retained a $1.7 million death benefit with no future premium obligations. The case example details stated herein may be approximations and were reported to Coventry by the policyowner's representative and are being presented by Coventry without independent verification by the policyowner.


SWAPP
Policy	Universal Life
Insured	Male, age 66
Face Amount	$1,000,000
Cash Value	$37,677
Coventry First provided the policyowner with $250,000 in death benefit with no future premium obligations.
Click for More Case Details The policyowner, a retirment-aged CPA, was seeking reduced premium payments while maintaining an adequate level of life insurance. Due to a change in health, the cost of new insurance was high, so his advisor recommented a policy valuation. The market value of the policy was significantly more than the cash value, which enabled the policyowner to pursue a SWAPP. Coventry First provided the policyowner with $250,000 in death benefit with no future premium obligations. This allowed the policyowner to redirect his premium allocation to the acquisition of a second policy which, together with his $250,000 death benefit, provided him the life insurance he needed within his budget. The case example details stated herein may be approximations and were reported to Coventry by the policyowner's representative and are being presented by Coventry without independent verification by the policyowner.


SWAPP
Policy	Universal Life
Insured	Male, age 62
Face Amount	$5,000,000
Cash Value	$0
Coventry First provided $130,000 for the policies and the policyowner retained a decreasing death benefit with no future premium obligations, beginning at $1,500,000 and stabilizing at $700,000.
Click for More Case Details A business owner purchased two term policies with a total face value of $5 million. After experiencing a change in health, he had them converted into two $2.5 million UL policies. Although his business reflected solid value, cash flow was limited. The policyowner had two goals: solve the short-term liquidity issues and sell the business wihtin five years. He and his financial advisor agreed that retaining life insurance in the $1-1.5 million range would cover his necessary insurance needs and he should have the policies valued in the secondary market. Coventry First provided $130,000 for the policies and the policyowner retained a decreasing death benefit with no future premium obligations, beginning at $1.5 million for years one and two, reducing to $1 million in years three to five, followed by a gradual reduction each year, stabilizing at $700,000. The case example details stated herein may be approximations and were reported to Coventry by the policyowner's representative and are being presented by Coventry without independent verification by the policyowner.