JUMBO INSURANCE

Large insured amounts are often referred to as “Jumbo Insurance” or “Universal Life Insurance” and tends to be favoured by High Net Worth Individuals as it offers the flexibility and choice to meet with their financial needs and objectives.

As a simple rule of thumb, the more assets you have then the more effort that is needed to maintain, preserve and protect the assets even after someone has passed.

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WHAT IS JUMBO LIFE INSURANCE?

Jumbo Insurance typically has a face value of $1-150 million, with most falling in the $5-$20 million range.

Jumbo Insurance is intended to form a strategic part of any wealth management strategy for wealth distribution, succession planning, charitable giving or estate planning protection and is taken out by high net worth individuals.

In some cases a Jumbo Insurance policy is underwritten by more than one insurance company since insuring a single individual for so much is more risk than most insurance companies are willing to take on.

THE VALUE OF JUMBO INSURANCE

Our high-net-worth clients are always looking for high yielding investment opportunities and jumbo insurance is an excellent option to consider. Not only do you get lifelong life insurance cover, but you can also make a return on the premiums invested.

Jumbo insurance can be extremely valuable when planning ahead in terms of estate planning, as the pay-out can cover any required duties should you have properties in jurisdictions which have death duties.

HOW JUMBO INSURANCE WORKS

This insurance policy can act as an investment vehicle as it can provide an encashment value if the policy holder decides to terminate the policy prior to death.

The encashment value is determined by the investment returns made on the premium and any termination fees applied. The premium can be paid as a single up-front lump sum, or through a series of payments.

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Speak with one of our dedicated insurance policy experts AND ADVISERS.

Jumbo Insurance is tailor made to suit your individual needs and circumstances. In order to learn more about how you could combine life cover with savings and/or a guaranteed interest rate of return over the term of the policy, simply request a free call back today.

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