Coventry's Enhanced Cash ValueSM program is designed for speed, simplicity, and certainty. It enables seniors to access significantly more cash than they would otherwise receive from the cash surrender value in their Universal Life insurance policies, without the need for medical records or underwriting. ECVSM is the fastest and easiest way to help your clients unlock the value of their policies. With just the insured’s date of birth and an illustration to maturity, Coventry can provide an ECVSM quote in under 24 hours, and policyowners can typically access their Enhanced Cash ValueSM payment in five days or less.
Coventry offers two convenient ways to uncover Enhanced Cash ValueSM for your clients with eligible Universal Life policies.
Submit eligible Universal Life policies on a case-by-case basis and we will provide Enhanced Cash ValueSM quotes that you can take back to your client for review.
Coventry can review your book of business and provide Enhanced Cash ValueSM quotes for all eligible Universal Life policies at once, enabling you to present options to your clients at your convenience.
Consider these recent case examples showing how policyowners and their advisors utilized Coventry's Enhanced Cash ValueSM program
Insured:Male, age 83
Carrier:National Life
Policy Type:UL
Face Amount:$5M
Cash Value: $360,000 ECVSM offer: $800,000
Faced with rising long-term care costs, the policyowner was considering surrendering the policy for the cash surrender value. Instead, his advisor helped him access an Enhanced Cash ValueSM payment of $800,000, more than doubling the amount his carrier would provide. The advisor earned a commission on the transaction.
Insured:Female, age 72
Carrier:Brighthouse
Policy Type:GUL
Face Amount:$3M
Cash Value: $113,000 ECVSM offer: $221,000
The policyowner no longer needed the policy and was considering surrendering it for the cash surrender value. Instead, her advisor helped her access an Enhanced Cash ValueSM payment of $221,000, nearly twice as much as the carrier would provide. The advisor earned a commission on the transaction.
Coventry today announced that it has exceeded more than $100 million in Enhanced Cash ValueSM (ECVSM) since the program launched, signaling extraordinary demand from advisors and policyowners seeking a faster and more beneficial alternative to the cash surrender value offered by life insurance carriers.
Coventry, the leader and creator of the secondary market for life insurance, today announced the launch of Enhanced Cash ValueSM, a new program that enables seniors to access significantly more cash than they would otherwise receive from the cash surrender value in their Universal Life insurance policies, without the need for medical records or underwriting.
