Face Amount Between Half Million and One Million
First, all requirements as shared on the previous blog post apply, plus:
- Proof of the owner’s existing insurance coverage, including any group employer coverage
- For all in force coverage on the owner, a copy of the policy page(s) providing the face amount and premiums are required.
- For employer group coverage, proof of the face amount is required.
- Minimum household income must be $100K or greater. Evidence of income must include one of the following:
- A copy of the owner’s pay stub
- Schedule C (if self employed)
- Or a copy of the previous year’s Tax Forms
- Underwriting will obtain the child’s medical records • Submission of an illustration reflecting overfunding of the policy is strongly encouraged