LIFE INSURANCE PLANNING AND THE PERFECT POLICY™

Life Insurance Planning Using The Perfect Policy™ Concept

The Perfect Policy™ is an approach to life insurance policy selection and life insurance policy design emphasizing flexibility and control over policy premiums, optionality and convertibility of the policy based on both long and short-term goals, strategic and intentional use of policy loan features embedded in whole life insurance policies, and "target date" death benefit and cash value accumulation for both term and whole life insurance.

This method of life insurance policy selection and design facilitates a method of life insurance planning that allows any individual to build real, life-long, financial security and independence without making personal sacrifices or compromising one's long-term financial goals.

Whole life insurance policies that are designed using The Perfect Policy™ concept are always guaranteed against loss, while also giving the policyholder incredible flexibility in the amount of premium paid into the life insurance contract.

For example, unlike most rigid whole life policies, these custom life insurance policies can be designed to have both scheduled and unscheduled premiums, payable for as few as 5 years or for the life of the insured, or for any number of years in between. A cash value and death benefit goal can be set at the outset, and a "target age" selected, to accumulate a specific cash value or death benefit amount by a specific age (e.g. $1 million cash value by age 65 or $5 million death benefit by age 75). 

And, if the policyholder changes their mind later, the policy can be reconfigured and premiums readjusted.

Whole life policies can also be designed for high cash value accumulation to help policyholders build, own, and have total control over a special form of "convertible credit". This credit or equity (in the form of cash value) can be used throughout the policyholder's life for major purchases or to invest in businesses. Unlike traditional forms of credit, life insurance cash values can be converted to cash savings at any time while the insured is still alive, or converted to a guaranteed monthly income (adjusted for inflation).

Additionally, a portion of the death benefit of the policy can be converted to cash savings, prior to death, to help pay for expenses incurred due to a permanent chronic or terminal illness. Finally, if a policyholder becomes disabled, they can elect to have the insurance company waive any required premiums for the term of the disability under an optional disability waiver of premium rider or temporarily suspend required premiums under the premium offset option included with every policy design. 

Term life policies that are designed using The Perfect Policy™ concept are always convertible to a whole life or universal life insurance policy. Term policies are often "laddered" to achieve a desired future "target date" or immediate death benefit accumulation goal. 

For example, if a policyholder has a goal of accumulating $1 million of death benefit by age 75, then a single policy can be purchased, or multiple policies can be purchased, with some being converted to permanent policies at specific ages, to achieve the desired death benefit by the "target age" of 75.

The life insurance policy doesn't exist in a vacuum, however. It's always part of a larger, long-term life insurance plan, which often includes many different financial goals, including: