Hi there,
I have a client who purchased an IUL with a $50k lump sum fund at age 71. He was rated as a Standard, and the DB is around $104k. Their advisor recommended it to them, and they just put it inforce 12/2015.
Would anyone recommend an IUL for a 71 year old? It doesn't make any sense to me, as they're looking for guaranteed DB. The policy is also with AIG and it is their Value Plus product, which, for an IUL doesn't seem like the best product.
After receiving the illustration that was sold with the policy, it looks like the policy is only guaranteed for 14 years (to age 85), alt
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I have a client who purchased an IUL with a $50k lump sum fund at age 71. He was rated as a Standard, and the DB is around $104k. Their advisor recommended it to them, and they just put it inforce 12/2015.
Would anyone recommend an IUL for a 71 year old? It doesn't make any sense to me, as they're looking for guaranteed DB. The policy is also with AIG and it is their Value Plus product, which, for an IUL doesn't seem like the best product.
After receiving the illustration that was sold with the policy, it looks like the policy is only guaranteed for 14 years (to age 85), alt
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