Focus 10 Life® – Legal Group Case Study
Case Study – Legal Group
- Law Firm needed $1,500,000 of life insurance on each of 6 owners to fund a Stock Redemption Plan.
- Interested in streamlined underwriting.
- Law Firm employed over 25 others.
Recommended Focus 10 Life® Plan Design:
This plan design met all Simplified Issue Guidelines and readily secured approval to be implemented
- Equity Partners secured $1,500,000 policy to fund th Stock Redemption Plan.
- The employees received a new employer-provided life benefit.
- Everyone secured a 10 year, guaranteed level premium individual term life policy.
- Readily portable at termination
- Convertible to permanent insurance to continue coverage beyond 10 years on a cost effective basis
- This plan would need to be approved by Ameritas and Re-insurer.