Upon entering the term period, comparison product, specified amount, and client info, click "Run Wizard" to generate the output that you can download as a printable PDF for your clients. The far left column shows all coverage provided by the level term product as well as the net cost over the entire term period. The middle column shows half of the coverage provided by the level term product and half by the return of premium product. The far right column shows all coverage provided by the return of premium product. The rate of return is the annual rate that an alternative investment would have to provide in order to obtain the same return by investing the premium difference between Scenarios 2/3 and Scenario 1.
These detail pages can also be added to your 20 year and 30 year term illustrations from the Quick Quoter and Illustration System, subject to minimum specified amount limitations ($200,000 for the Signature Term products and $500,000 for the Choice Advantage Term products). From the Quick Quoter, expand the Supplementals box, then click the checkbox next to Triple Option Term. When you download this illustration, the same detail pages that the Triple Option Term wizard generates will be included in the illustration packet.
We hope that this tool is useful and makes it easier to show your clients that by just paying slightly more for a return of premium product, they can generate a higher return on their investment and remove the risk of no premium return should they outlive the initial term period.
Happy selling!