LP Series 100 in action

Eric, 48, and his wife, Nicole, 49, couldn’t be prouder of their three adult children, who are in their mid-20s. Eric and Nicole have watched them blossom and grow into young adults who will likely be starting families of their own in the near future. They want to continue to help them be successful and are looking for an insurance solution that can help them create a financial platform from which to accomplish this.

Limited Pay (LP) – WL Series 100

Death benefit protection that is paid for during working years while maintaining a focus on lower premium than the Limited Pay – WL Series 200.

Solution:

Using the Limited Pay Series 100 plan, for a monthly premium of $1631, Eric can acquire $75,000 of whole life coverage to help protect his family financially. To help him achieve his commitment to providing his children financial assistance, Eric names them as beneficiaries. He is also interested in policy growth to increase the amount he is able to leave them.

If Eric uses annual dividends to purchase paid-up additions, the policy’s non-guaranteed death benefit potentially could grow to more than $96,0002 by age 78, when this limited pay policy is fully paid up – an increase of over $21,000. Eric potentially increases the amount he can leave each child by just over $7,000.

Guaranteed Premium

Payable to Age 75 or 30 years, whichever is longer

Guaranteed Cash Value

Faster build-up due to limited pay structure

Minimum Death Benefit

$25,000

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