Term With a Twist

You give your clients term that will accept 1035 money! Term with a Twist

Did you know Protective’s Custom Choice UL (term on a UL chassis) takes 1035 money?

It’s the only “term” product in the industry that can take a lump sum of money.

Below is an example where it might make sense for a client (same premiums….more DB).

Male age 57 has $36,000 in 1035 money for a new plan. He is looking for something less costly with more flexibility.

Option 1

$500k Protective Life Indexed Choice UL  –  Guaranteed to 93*   with $10,800/mo ExtendCare benefit

  • $36,000 1035 exchange
  • Ongoing premiums of $7,350/yr

Total Benefit $500,000

Here is a sample illustration

Option 2

$375,000 Protective Life Indexed Choice UL  –   Guaranteed to 93*   with $10,800/mo ExtendCare benefit.

  • Ongoing premiums of $7,350 annually
    • AND
  • $265,000 Protective Life 20yr Custom Choice UL (term on UL chassis)  –   single payment of $36,000 1035 exchange

TOTAL benefit $640,000

Here are your sample illustrations

For the same premium dollars, Option 2 offers $140k (28%) more Death Benefit in the first 20 years. This option isn’t for everyone, but it is an interesting alternative for folks that have a need for more benefit on the front end – – –  debts are higher early on, they still have kids/grandkids living at home, etc.

*IUL easily makes it to 120 based on an assumed interest rate of 5.60%.

Want to learn more or have a client you need a quote for?

Email Marissa today by clicking this button.