The Crossover Point supplemental is now available on the Life Protector! This is a great supplemental to add to your illustration if you are looking to upsell to the Value Assured - Whole Life product.
To get started, set up a Life Protector illustration like normal. Once you have entered all of the inputs for the Life Protector, simply check the 'Crossover Point' box in the Supplementals section.
Now when you run the illustration, the Crossover Point supplemental will be added at the end of your illustration.
The "Crossover Point" is the point at which the client will have paid less for Value Assured coverage than for Life Protector coverage. In the example above, the Crossover Point occurs in year 6. This number will always be red and underlined so it is easy to spot!
Total Net Cost is the total net outlay should the client drop coverage at the end of the policy year. It is the sum of the premiums paid less any cash value returned at surrender.
The IRR represents the before-tax rate of return if the difference between the Life Protector and Value Assured premiums were invested for a specified number of years and the Value Assured cash value was returned at the end of those specified years.
Don't hesitate to contact us if you have any questions on how the Crossover Point works or if you would like to walk through setting one up together.
Have a Great Day,
Illustration Development Team
1-800-572-2467 x8162
illustrationhelp@kclife.com
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