Company-owned key man policy on a retiring business owner. Due to the costly conversion premium, the company planned to lapse the policy. The retiring business owner negotiated for the policy ownership to be transferred to him. Afterward, his advisor suggested he have his life insurance policy asset appraised for secondary market value.
Liquidity constraints reduced donations
Cash created donation for the charity she loves.
Policy was underfunded and sitting in an ILIT
Eliminated future premium payments and used the funds for medical bills.
Client outlived all planning and premiums were due
The adult children no longer needed to fund the caregiving needs.
