Case Studies
ConOak Partners offers a variety of life insurance repositioning options to clients:
- Newer, guaranteed products are performing better than older policies
- Clients can maintain their current death benefit at a reduced rate
- Cost of Insurance (COI) per million has been reduced, making it possible to buy more death benefit with less money.
Examples of repositioning benefits for clients in the senior market:
Male, age 74: Repositioning for Spouse
Client had multiple whole-life policies with two different carriers. ConOak explored the market for a policy, guaranteed to age 100, which offered the client a choice of options for death benefit and funding amounts:
- a 43% increase in death benefit for no additional out-of-pocket expenses OR
- an 82% increase in death benefit with only 30% additional annual funding
Couple, age 76 & 79: Estate Planning
ConOak facilitated combining two non-guaranteed policies to one second-to-die policy guaranteed to age 100. Annual funding was reduced by 71%.
Male, age 81: Repositioning for Child (Owner Beneficiary)
With 13% increase in annual funding, ConOak secured an additional 24% coverage for the client. Furthermore, the new coverage was a guaranteed policy replacing two non-guaranteed policies.
Male, age 70: Corporate Deferred Compensation Upgrade
ConOak assisted a corporate client in exchanging four outdated life insurance policies for a single superior policy as part of an employee�s deferred compensation plan. The client�s options included:
- For the same annual funding, an additional $1,771,871 in coverage (an increase of 215%) OR
- A 5% reduction in annual funding with $1, 712,829 additional coverage (increase of $208%)
The new coverage is a guaranteed policy replacing four non-guaranteed policies.