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Simplified Issue Case Scenario: Key Person Insurance

7/24/2023 12:00:00 AM

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Insurance needs

Patrick, a 29-year-old male non-smoker, and Lisa, a 33-year-old female non-smoker, are a married couple who are intrapreneurs and run a successful technology start-up together. They are the driving forces behind the company's growth and innovation.

As key individuals in the business, Patrick and Lisa recognize the need for key person insurance to safeguard their company's future. The company needs to be the owner, payor and beneficiary for their insurance.

Health conditions

  • Patrick was recently diagnosed with diabetes. He started taking Metformin 8 months ago and maintains a healthy diet. 

  • Lisa was diagnosed with hepatitis C when she was 22. She has not been hospitalized in the past 10 years and was taking medication until last year.
     

Qualifies for
Immediate coverage up to $500,000 with Assumption Life's simplified issue solution, Platinum Protection.

Tailored solution 
For each key person, a $500,000 term-20 Platinum Protection policy will be provided, with $300,000 accidental death coverage specifically for Patrick, as he frequently travels to meet with vendors.
No financial statement is needed, and both Patrick and Lisa can be covered under the same policy.

Total monthly premium: $168.75
 

We offer the widest range of immediate solutions for common medical conditions. Remember! If your clients are getting a deferred option elsewhere, don't compromise!

Contact your Director of Business Development today to learn more about how Assumption Life can help.