Devin01
Guru
- 430
Have a medicare client I am looking to convert a small paid up whole life contract has 13k in paid up value into Single Premium WL, any reccomendations?
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like a pda?
yes, custom whole life policy
Yes, you can name companies. It's done all the time.I dont know the rules here, will go find those after I post this. dont know if its okay to talk specific companies. that kind of thing
But yea a single deposit is possible, you pay the lump sum into a pda (premium depost account) as part of a custom whole life policy that effectively prepays up to 14-15 years of annual premium payments. then youre done just accumulate interest anddddd dividends
Have a medicare client I am looking to convert a small paid up whole life contract has 13k in paid up value into Single Premium WL, any reccomendations?
I dont know the rules here, will go find those after I post this. dont know if its okay to talk specific companies. that kind of thing
But yea a single deposit is possible, you pay the lump sum into a pda (premium depost account) as part of a custom whole life policy that effectively prepays up to 14-15 years of annual premium payments. then youre done just accumulate interest anddddd dividends
"Managed" doesn't necessarily mean what you think it means. It's just to ensure that premiums are paid. That's managing premium dollars - at least what I meant by it in my post.
As opposed to "managed money" using investments. Obviously a completely different universe of a topic.