Situation
 

A man in his mid-sixties came to HORAN because he was concerned the life insurance policy he has had for over 20 years was no longer fulfilling his needs. He had two main concerns for his life insurance. The first was ensuring the policy would be in force for the rest of his life and the second was guaranteeing the premium cost. 

  

The HORAN Life team reviewed the policy and concluded it was no longer effective for his goals; the death benefit was decreasing and the premium cost was increasing. Through new underwriting and relationships with the insurance carrier, HORAN was able to:

 

• Increase the life insurance face amount by 33%

• Replace the current, fluctuating premium with a fixed cost

• Eliminate the decreasing insurance amount

• Reduce the mortality cost

 

HORAN was able to provide this man peace of mind by removing the uncertainty of his former policy and ensure his family would be taken care of.