Joe’s Story: Term Lifextender™ in action
At age 69, Joe’s $1,000,000 term life policy’s conversion option is about to end. He’s not as healthy as when he bought his policy.
- Convert to universal life—too expensive
- Buy new term—too expensive
- Sell his policy—no buyers
- Result—policy lapses
Joe decides that Term Lifextender™ is a good choice for him.
- Joe converts his policy to universal life and pays only the minimum conversion costs
- He enters into a split-dollar agreement with the Term Lifextender™ Fund, which loans Joe the cost of the premiums for the full term of the loan
- He opts for a term of 5 or 10 years and pays an annual fee, which is significantly less than with other options
At the end of his term, Joe can:
- Keep his policy by repaying the Term Lifextender™ Fund and make the decision that’s best for him
- Simply walk away
That’s Joe’s story. Talk to your agent and find out yours.