Special Products for Target Markets
Rescue Products for agingDisability Buy-Sell Plans
Baby Boomers are crying for help to save their Disability Buy-Sell Insurances from disintegrating. In the previous issue of the Communicator we introduced two rescue plans to solve the two fold problem of the old fashioned plans that begin reducing benefits at age 60 and terminate at age 65.
The two lifelines are:
Rescue Plan # 1 – If the insured is age 60 or older, replace the old plan with a new one that does not reduce at 60 and disappear at age 65.
Rescue Plan # 2 – For your clients who are now 60 or older, the Golden Spike Plan may be used in which we tack on a new policy to the old dying policy. The new policy increases 20% per year beginning at age 60 and reaches 100% replacement value at age 65.
Both approaches provide a way to stay the course with a full 100% benefit to age 65 and possibly to age 70 or even 75, if wanted.