Your clients with health issues pay more for Life Insurance due to increased mortality costs, now you can show these same clients a way to get increased income payments when applying for Single Premium Immediate Annuities (SPIA’s).
Insurance carriers base life contingent immediate annuity income on a client’s life expectancy. When that life expectancy is reduced due to health ailments these clients can often qualify for increased payments based on a specified premium deposit or smaller required premium deposits when requesting a specified income stream. These “Rated SPIA’s” can often help offset premium increases when used to fund a health rated Life or Long Term Care policy. CPS Insurance Services has several carriers that offer health rated SPIA’s.
