Qualifying for Policy Purchase
Generally speaking, males age 72 and older, or females age 74 and older, will usually qualify. Although health conditions such as diabetes, heart disease, or pulmonary issues may bring the qualifying age down, most purchasing companies require a minimum age of 65. The amount of premium required to keep the policy in force is also a major factor.
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POLICIES CONSIDERED
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OWNERSHIP
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Minimum face amount of $250,000
Insurance Carrier Rating S & P - A
Non-contestable policies
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Individual
Trust
Corporation
Bank
Partnership
Family Limited Partnership
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TYPES OF POLICIES
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Term Life*
Whole Life
Universal
Group*
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Variable Life
Survivorship Life
Adjustable Life
Joint First to Die
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* Convertibility may be required
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