Focus 10 Life® – Legal Group Case Study

Case Study – Legal Group

Situation:

• 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

The results:

• 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.