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Success Outcome

The owner of a highly successful family business was in the process of purchasing a multi-million dollar life insurance policy for the purpose of providing cash for his family to pay estate taxes. He initiated his search through a family friend who was a captive agent for a large, well-respected life insurance company. When the underwriting offer came back at over $250,000 of annual premium, the owner’s accountant suggested he get a “second opinion” from the experts at SilverStone Group.

The underwriting consultant at SilverStone Group did extensive research of the owner’s medical records. By thoroughly understanding his medical and family history, as well as requesting that additional medical tests be done, we were able to “reframe” the individual’s case in a more favorable light. We then selected five quality carriers with sufficient retention limits and held what amounted to a “controlled auction.”

Taking the time to get a complete picture of the individual’s medical history and introducing quality competition paid big dividends. We were able to lower the owner’s annual premium by over 40%! In addition to the monetary savings, we were able to educate the client about his medical condition, which motivated him to take the necessary steps to live a healthier lifestyle. He was so pleased with our service that he has since referred another business owner to SilverStone Group.

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