TEMP Zendesk
The goal of this strategy is to minimize Death Benefit costs and maximize accumulation while looking to compare the most efficient products for the specific client’s parameters. Ensight Intelligent Quote will enable us to run, compare, and sort all the approved products of your case.
7 Pay Premiums are, by definition, the maximum amount of premium allowed in relation to Death Benefit, thus, creating the most cash value. For clients that have liquidity for short term funding with a need for Death Benefit and a desire to accumulate cash in a tax advantaged financial product in the most efficient way, we design the 7 Pay illustration with high ‘non-guaranteed’ values.
Case Example
Valued Client
Male
Age 45
7 Pay $20K Annual
Preferred Non-Tobacco
Endow
1. To begin, enter your client’s basic information, SAVE and name the case, and then click Go to Product Type to continue.
2. Product Type Page select only:
3. Solve For Page: Fill inputs as shown
On the Solve For page, selecting '7 Pay Premium' will automatically Endow at lifetime.
4. Whole Life Solve For Page: Fill inputs as shown
5. Policy Options Page: Fill inputs as shown
On the Policy Options page, set the Death Benefit options to 'Increasing' from Year 1 to Year 7, and then 'Level' to lifetime. Depending on the Products you select, you may find some products will run better at the CVAT Life Insurance Test.
6. Disbursements Page: Select No
Click the progress arrow to go to the next page.
7. Reports and Riders Page: Select Yes on ‘Internal Rate of Return’ (IRR) and 'Client Input Summary.'
Then click ‘Go to Agent Details’ to continue.
8. Agent Details Page: Enter agent information.
Then click ‘Go to Product Selection’ to continue.
9. Product Selection Page: Click on desired products to illustrate and compare. In this example, you may want to select a mix of products such as WL, IUL, and UL that accumulate cash value and some that have built in primary guarantees.
10. Summary Page: You will now see a scrolling list of products to select from.
11. Summary Page (Continued):
- For this comparison we will choose the highest cash value products to compare. Click the ‘Non-Guaranteed Cash Value’ column to sort it high-to-low.
- This case design can be saved to your ‘Intelligent Quote Homepage’ by clicking SAVE AS in the top right corner. Make sure to use your naming convention when naming the case.
- When you check the boxes and select products, the ‘Download Selected’ and ‘Summary PDF’ buttons will become highlighted. ‘Download Selected’ will download and save the illustrations to your computer. You can download a PDF version with the ‘Summary PDF’ button and print or send it as a benchmark or summary of the competitive products.
- Click on the illustration icon to see the full compliant illustration.
- Select the desired products and click ‘Create Presentation’ to open the case in Ensight Presentations, where you can compare and present all the ledger values in the Product Table, Spreadsheet, and Charts.
