Some cases result from a simple pricing advantage, while others are part of a more elegant solution to a specific planning objective. In this case Accordia Life delivered on multiple fronts to take down a massive case and pave the way for the client’s other planning. Read on for the rest of the story.


AT A GLANCE:

Product: Accordia Life Lifetime Builder IUL
Target: $1,612,750

Situation:

  • An Advisor began working on an estate planning case for a couple with a unique set of needs:
    • $25MM of coverage of existing single life coverage
    • The existing coverage was single life on the younger, healthier female
    • Household net worth in excess of $100MM
    • Approximately 50% of the household net worth was tied up in the male’s business
  • Despite significant cash flow, an impending period of expansion and reinvestment in the business has rendered the ongoing premium extremely problematic.
  • The clients were seeking a premium finance solution for new coverage that would provide reduced cash outlay for a period of years as well as a low collateral requirement

Solution:

  • Accordia Life Lifetime Builder IUL

Results:

  • The Lifetime Builder was quickly identified as a possible product solution.
  • It was head and shoulders above all other options, offering:
    • Low expenses and corresponding premium
    • Attractive cash value growth
    • The backstop of a 2% guaranteed crediting rate
    • A high early cash value rider that was the lynchpin of the case
  • The informal submission met underwriting expectations at a Premier Non-tobacco offer
  • Both the medical and planning aspects of the case were discussed with the Underwriting and Advanced Markets areas at Accordia Life in advance of the formal submission.
  • The design included a clear exit strategy based on paying off the loan from external sources and low ongoing premiums after the payoff.
  • As a result of the excellent packaging and preliminary underwriting, the formal app was approved and issued in under 72 hours, including the review of all premium finance and trust documentation.
  • $1.612MM of Target Premium placed with Accordia Life

Real Advisors.  Real Cases.  Real Success.