Joe is 50.  He thinks he is too old for life cover.  His two children are 12 and 16.  He thinks life cover on him is too expensive.  However, with his younger child likely to be dependant on him for 10 more years, he and his wife want to make sure that there could be a yearly income if Joe died.  

This was much less expensive than they thought it would be.  CGM were able to find an insurer who offered a competitive premium.   The actual plan worked as the following examples demonstrate:  if Joe died in year 2, the plan would pay out for another 8 years.  If he died in year 7, then the  plan would pay out for another 3 years.  He is therefore less of a risk to the company the longer he lives, and so the premium is lower than a ‘lump sum’.  Please contact us for more information on how this works.