Company-owned key man policy on a retiring business owner. Due to the costly conversion premium, the company planned to lapse the policy. The retiring business owner negotiated for the policy ownership to be transferred to him. Afterward, his advisor suggested he have his life insurance policy asset appraised for secondary market value.
Liquidity constraints reduced donations
Cash created donation for the charity she loves.
Policy was underfunded and sitting in an ILIT
Eliminated future premium payments and used the funds for medical bills.
Policy was eating cash flow needed for caregiving costs
Funded long-term care needs and relieved financial stress from her family.
