UL and Limited pay option
James has contacted you and set up a meeting. After reviewing his needs analysis, James has a permanent insurance need of $500,000.
Use Sun Life Illustrations to illustrate a SunUniversalLife II with Limited Pay Options with the following information:
- James Smith is a 35 year old non-smoker with his birthdate of January 2, 1983.
- Cost of insurance (COI) type is Limited pay – 20 years
- Coverage amount is $500,000
- Payment frequency, is Monthly
- Payment duration, is Same as COI
- Total disability waiver
Creating an illustration in Sun Life Illustrations:
From your desktop, double click the Sun Life Illustrations Web icon.
The Sun Life Illustrations Home page opens.
- From the Start a new product illustration drop-down list, select SunUniversalLife II and then click Go.
- Under the Plan & client details section, enter James’s information.
- Under the Policy details section, From the Province drop-down list, select ON.
- Under the Coverage details section, in the:
- Cost of insurance (COI) type field, select Limited pay – 20 years,
- Coverage amount field, type $500,000.
- for Payment frequency, select Monthly,
- for Payment duration, select Same as COI.
When you scroll down to the bottom of the illustration, the View Report button creates a basic report with the following mandatory pages:
- Client summary,
- Plan summary, and
- Important illustration notes.
You can also create a customized report. For this case study we will create a customized report.
- Click the Report Design
- For Client Report Options, select the options you want on your report.
- From the Report durations drop-down list, select which years you would like to see.
- Click the View Client Report button.
- Click Open. The report opens in the Adobe Reader.
- From the File menu, click Save as.
- From the Save as PDF dialog box, under your Favorites, select Illustrations - Apercus.
- In the File name field, give the recommended name of Firstname Lastname Product Coverage amount and then click Save and close the PDF.