A 56-year-old high-net-worth male, who was a nonsmoker, had an insurance policy that offered a $2 million death benefit, an annual premium of $39,221 and was guaranteed to age 105. The client wanted to save money and was looking for other policy options.
Baker Tilly Wealth Management reviewed the client’s current in force policy and suggested a new policy option that improved their health rating by utilizing healthy lifestyle credits, as well as added a 2% long-term care rider.
The new policy resulted in the client saving over $5,000 dollars per year by decreasing his annual premium from $39,221 to $33,517.
To perform a policy review, Baker Tilly Wealth Management will need to know your date of birth, current health information and in force illustration. From there, we can evaluate your insurance policies and help uncover other options that could result in cost savings and more!
Baker Tilly Wealth Management, LLC (BTWM) is a registered investment advisor. This information should not be construed as a recommendation and BTWM makes no warranties with regard to the results to be obtained from its use, or whether any expressed course of events will actually occur. BTWM does not provide tax or legal advice. BTWM is not an attorney. Estate planning can involve a complex web of tax rules and regulations. Consider consulting a tax or legal professional about your particular circumstances before implementing any tax or legal strategy. The information provided here is of a general nature and is not intended to address the specific circumstances of any individual or entity. In specific circumstances, the services of a professional should be sought. Insurance products , when offered, are offered through Baker Tilly Vantagen, LLC. Baker Tilly Wealth Management, LLC and Baker Tilly Vantagen, LLC are controlled by Baker Tilly US, LLP. Baker Tilly US, LLP, is an independently owned and managed member of Baker Tilly International. © 2023 Baker Tilly Wealth Management, LLC
