clientletter2 - Using the Human Life Value method, which is...

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P owell  F inancial  S ervices 206-C Sparrow Rd. Blacksburg, VA 24060 (540) 867-5309 Alex Albrite 4729 Cactus Ln. San Antonio, TX 78203 October 26, 2009 Dear Alex, It was a pleasure to meet with you this past week and we are glad you have sought out the help of Powell Financial Services. It is very wise of you to want to evaluate your current life insurance policy and make sure you have sufficient funds for the welfare of your family. After an initial assessment of your policy we have discovered that according to industry standards your current life insurance for both you and your wife Sarah is inadequate.
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Unformatted text preview: Using the Human Life Value method, which is a commonly used mathematical approach to estimating your inflation adjusted future earnings from time of death today until time of retirement, we have found that you would need roughly $1,219,402.71. That number may seem quite intimidating but we would like to create a plan to allow you to have such coverage. Sarah’s need, using the same method, was approximately $1,279,237.80, which is not including her current group life insurance policy. Currently you have an individual whole life policy with State Farm that covers only $150,000 of your need....
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This note was uploaded on 09/22/2010 for the course FIN 3055 at Virginia Tech.

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