Case Study: Mr. Term Conversion
Mr. Term Conversion is a 57 year old business owner who is ready to sell his business and finally ready to address his estate plan in anticipation of a large upcoming liquidity event. His net worth is predicted to grow to $85 million as a result of the sale. He has been a client of the referring life insurance agent for over 12 years and currently has only $10M of term coverage in place. Despite a need for a large block of life insurance, Mr. Term Conversion is apprehensive about paying large premiums. His attorney has suggested $20M of life coverage to be placed in an ILIT to accompany other estate planning instruments.
13 Strategies Financial Firms Can Implement To Keep Clients Happy
"We conduct annual reviews for all implemented transactions. We update every transaction every year. We encourage our clients to always call with any questions or concerns. We remind our clients to always take into consideration the projected long-term result of the transaction and not get hung up on short-term deviations, whether good or bad." - Michael S. Seltzer, Vérité Group, LLC via Forbes Finance Council
Forum 400 Webinar - Discussing Using Premium Finance To Fund Lirp's (GATED)
Michael recently recorded a national webinar discussing using premium finance to fund LIRP’s. This was done for the Forum 400 Webinar Series and is now available in the Forum 400 on-line library.
Case Study - Mr. Attorney
Mr. Attorney is a sole practitioner. He is age 53, planning on retiring at age 65. He has no partners but several staff. He feels his staff is paid well and rejects the notion of providing them with significant retirement benefits other than a standard 401(k).
Case Study: Mr. and Mrs. High Income Earners
Male 50 and Female 49 are highly compensated physicians based in a Texas Hospital System. They are interested in exploring the benefits of using cash value life insurance to provide future liquidity in the event of death and primarily as a vehicle for income. Their current net worth is $15M and they have a combined household income of $1.75M/year. As part of the planning, they have agreed to use $300,000 of after tax money, per year, for 5 years.
How Vérité Differentiates Itself
Nine ways Vérité has set itself apart as the Premium Finance experts and can help you and your clients expand what’s possible.