Short video discussion (transcript excerpt) where Jayson Lowe answers a question about what happens if a policyholder cannot afford a large upfront insurance premium due to an event like Covid. Lowe explains policies are structured so the chosen premium exceeds the minimum required, providing flexibility and options to maintain the policy during financial hardship.
What happens if Covid or something similar hits? You can't pay the large upfront premium come the next year?
Well, we structure the policy so that the premium that you choose to put in is not the minimum premium required. So if a potential policy owner says, look, I want to put 20,000 into a policy, we structure it so that the policy requires much less than 20,000 as a minimum. And so there are always options to maintain the policy. If there's a financial event that prevents you from having the money or the resources to pay the premium, there are always options to maintain that policy.
