Success Story: Family Financial Security

  • Mr. G, a 70 year old resident of a country in Latin America wanted to provide financial security for his 40 year old son and grandchildren by ensuring his son had access to sufficient retirement income.

  • Mr. G funded a $5,000,000 universal life insurance policy on his son's life, allowing for income tax deferred asset growth within the policy before policy distributions to his son started when he turned 60.

  • Mr. G paid a single premium of $1,693,833 to provide annual income to the son of $100,000 for 25 years (i.e., $2.5 MM of total income)

  • Mr. G named his grandchildren the beneficiaries of the policy. The policy is projected to pay a $2,500,000 death benefit to the beneficiaries at the time of their father's death (after all the income payments have been made).

  • The plan generated more than $100,000 of revenue for the referral bank.

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