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...t and complete a General Purpose Impaired Risk Questionnaire (or any of the sp...lity to analyze your most challenging risks and negotiate as aggressively as p...

What is an Impaired Risk? When you paint it with a broa... know would be a good candidate for Impaired Risk Life Insurance and want them to be ...

...ed placement and improve fit Impaired risk life underwriting for nonstanda... Life and LTC and has resources for impaired-risk life underwriting to improve placem...

...s like imminent danger of BI/PD, impaired property, or actual BI/PD from produ...expertise to help you place qualified risks efficiently. Need help placing a...

Life Insurance The policy could be a term policy, whole life (or a variation of whole life such as 20 year payment life, or life paid up at 65), endowment, universal life, or some other type. The type of policy will determine many other aspects of the policy, such as whether it has cash or loan values, the length of time you are scheduled to pay premiums, etc. Permanent Life Insurance Permanent life insurance is a form of life insurance where the policy is guaranteed for the life of the insured (assuming the policy is kept current and the premiums are paid). The four basic types of permanent insurance are whole life, universal life, limited pay and endowment. Whole life insurance offers a level premium and a guarantee by the insurance company that the policy will earn cash value. Often referred to as permanent insurance, the death benefit guarantee for a whole life policy can be anywhere from age 100 to age 121. Once a policy has been issued both the death benefit and premiums remain the same and typically cannot be changed or altered. Universal life insurance is another type of insurance product intended to provide permanent insurance coverage only with greater flexibility. A universal life insurance policy also earns cash value and since both the premium and death benefit are flexible the amount you pay can increase the cash values.

... cash and the desire to find a low-risk way to protect and guarantee a healthy...

A Life Settlement is a financial transaction in which the owner of a life insurance policy sells an unneeded policy to a third party for more than its cash value and less than its face value. Until recently, if a policyowner opted out of a policy by surrendering the policy or allowing it to lapse, the additional value was relinquished back to the issuing life insurance company. In some cases, an insured’s health may have declined since the policy was issued and the policy may be worth considerably more than the surrender value Financially prudent people measure the value of their non-liquid assets on a regular basis. Real estate holdings, jewelry, fine art - these all fluctuate in market value as times and conditions change, and prudent individuals have these assets appraised from time to time so that they can plan effectively for their futures. Whether to appraise a particular asset depends in part on whether a market for that asset exists. In the case of life insurance, there has not always been a market for policies. For many years, an insurance policy’s value consisted only of its surrender cash value. However, buyers in the life settlement market can and will pay not only the cash surrender value but also for the value in the option to continue the insurance policy, itself. For any individual whose health has eroded, a policy issued at standard or preferred rates is likely to be worth far more than it's cash surrender value. Over 20% of all insureds, aged 65 or older, fall into this category. An appraisal by a firm, such as Coventry Financial, of such an individual's life insurance policies is in order whenever a decision regarding either an increase or decrease in existing coverage is being considered or simply as part of a routine periodic assessment of the individual's wealth. A life settlement is an alternative to this surrender or lapse of a policy, or when the owner of a life insurance policy no longer needs or wants the policy, the policy is underperforming or can no longer afford to pay the premiums. It gives policy owners the ability to access the value by selling their existing life insurance policies and receiving a cash settlement in excess of the cash surrender value (if any)

Guaranteed Issue Life Insurance Guaranteed issue life insurance (or Guaranteed Issue Whole Life) requires no physical examination or lab work. Generally, being able to answer "no" to a few simple questions will qualify someone for guaranteed issue life insurance. Death benefit amounts ranging from $2,000 to $25,000 are available with issue ages being between 50-80 in most states. Guaranteed issue life insurance provides a graded benefit. That is, the full death benefit amount of the policy will be paid to the beneficiary after a specified period of time from the issue date of the policy. If death occurs prior to the end of that period of time (usually two or three years ), the beneficiary receives a return of paid premiums plus interest. Once that period of time has passed, the full death benefit amount is paid to the beneficiary upon the death of the insured Guaranteed issue life insurance policies all build guaranteed cash values within the plans. Guaranteed life insurance may be sold per unit. In such case, a single unit corresponds to a certain amount of death benefit. Just how much coverage a single unit provides depends on the age of the applicant at the time the policy goes into force. Each unit may be very cheap, but a lot of units may be required to build up a significant death benefit.

When choosing a life insurance policy for a child, there are a number of important factors that need to be considered. The amount of the premium and the type of coverage being offered are two factors that must be taken into account. Whole Life Insurance When looking for a life insurance policy for a child, whole life insurance offers advantages that other forms of life insurance do not. The primary benefit to a whole life insurance policy for a young child is that the coverage period never ends with a whole life insurance policy. With a child, whole life policies will be there to provide the desired benefit, whether they live to be 40, 70, or 100 years old. These policies build a cash value as the policy matures, giving the policyholder an investment vehicle to borrow against as their needs warrant. Because this cash value builds over the life of the policy, the amount of money invested per payment can stay fairly low, with the increasing cash value of the policy coming from the benefit of long-term investment strategies Whole Life for Children: More Than Just Death Benefits Guaranteed Insurability. It is the right to buy reasonably priced insurance at certain times or events in the future, even if you become uninsurable. The increased coverage is available regardless of health factors, avocation, occupation or geographic circumstances. Even after your child grows up, they won't outgrow properly selected guaranteed insurability. You buy the amount of permanent coverage you need now and attach a special rider known as the Option to Purchase Additional Insurance, or OPAI. Then, at specified ages or life events such as marriage and the birth of children, your child may buy a specified amount of coverage at standard premium rates for their age and gender, no questions asked.

Split Dollar Life Insurance Split dollar life insurance is an arrangement between an employer and an employee to share the costs and benefits of a life insurance policy. Specifically, the parties join together to purchase an insurance policy on the life of the employee and agree, in writing, to split the cost of the insurance premiums, as well as the policy's death proceeds, cash value, and other benefits. The actual life insurance policy used can be whole life, universal life, second-to-die (survivorship), or any other cash value policy. Split dollar arrangements usually take one of two forms. Under the endorsement form, the employer is formally designated as the owner of the life insurance contract and endorses the contract to specify the portion of the death proceeds payable to the employee's beneficiary. Under the collateral assignment form, the employee is formally designated as the owner of the contract, and the employer premium advances are secured by a collateral assignment of the policy. Split dollar life insurance is widely used in gift and estate planning and can be an important part of the compensation package of many key employees. You don't have to cover all of your employees--the coverage, amounts, and terms of the split dollar arrangement are generally not subject to Employee Retirement Income Security Act (ERISA) nondiscrimination rules. Split dollar plans can be used to: Attract, motivate, and retain employees Provide low-cost life insurance protection to employees Fund severance benefits Fund stock purchase agreements Fund nonqualified deferred compensation plans Split dollar life insurance offers a number of advantages: A split dollar plan allows an executive to obtain life insurance coverage using employer funds. The investment by your business in the plan is fully secured. If the insured employee dies or his or her employment is terminated, your business is reimbursed from the policy proceeds for its payment of premiums. Split dollar plans can be customized to meet the objectives of both employer and employees. The death benefit from a split dollar plan (both the employer's share and the share going to the beneficiary of the employee) is generally free from income tax. Note: If the death proceeds are paid in installments, any interest element in the installment payments will generally be taxable. Split dollar plans have some disadvantages as well, including the following: Your business will generally receive no tax deduction for its share of premium payments under the split dollar plan. Depending on how the agreement is structured, employees may have to pay income taxes each year on the value of the economic benefits provided to them. Alternatively, if the employer's premium payments are considered a series of loans to the employee, then the employee must pay a reasonable rate of interest to the employer. If the employee does not do so, the employee is considered to have received taxable income up to the amount of interest that should be paid. Tax rules regarding split dollar life insurance are complicated Reverse Split Dollar Reverse split-dollar takes its name as the reverse of a conventional split-dollar plan. In regular split-dollar, the employee is entitled to a substantial portion of the death benefit proceeds, and the employer retains an interest in the cash value of the life insurance policy. Reverse split-dollar reverses the benefits found in regular split-dollar. The reverse split-dollar strategy is to apply the tax principles for regular split-dollar in reverse to achieve favorable, but different business and tax results. In a reverse split-dollar plan, the employee owns the cash value portion of the policy, and the employer owns the policy's death benefit.