Sean Covi

  • Declaration of Sean L. Covi, Agent - Doc 258 - 2010 0710 - 11p
    • 2000s - LC - Walker v LSW (Life Insurance Company of the Southwest) ---  [BonkNote]
  • p7 - 20. I tell clients that the cash value is guaranteed not to go down when the market goes down because the cash value has a 0% annual floor.
  • p8 - 21. I often tell my clients that this crediting methodology means that, on some years, their policy cash value will not grow at all (0% ), some years it will grow at the earnings cap (e.g., 12% for example), and some years it will grow at some rate between those two limits on a relatively volatile basis, and that the volatility will have an effect on their cash values.

--  Declaration of Sean L. Covi, Agent - Doc 258 - 2010 0710 - 11p

2000s - LC - Walker v. LSW (Life Insurance Company of the Southwest)  ---  [BonkNote]

  • p7 - 19. When I recommend Paragon or Provider, I inform my clients in some form of words that the policies charge a cost of insurance that will increase as they grow older. I tell them that the policies maintain cash values, in part to offset that increasing Cost of Insurance.  
  • 20. I often discuss the various crediting methodologies available under the Paragon or Provider policies for these cash values. In particular, I tell clients that their policy will accumulate value based on the returns of the S & P 500 index (filtered through a participation rate and earnings cap, which I identify for my clients).
  • ⇒  I tell clients that the cash value is guaranteed not to go down when the market goes down because the cash value has a 0% annual floor.

--  Declaration of Sean L. Covi, Agent - Doc 258 - 2010 0710 - 11p

2000s - LC - Walker v. LSW (Life Insurance Company of the Southwest)  ---  [BonkNote]

  • p7 - 18. If l discuss the policy loan features of Paragon or Provider with my clients, I tell them that if they have policy loans outstanding, they need to keep their policy in force, or they may face very substantial tax liabilities.

--  Declaration of Sean L. Covi, Agent - Doc 258 - 2010 0710 - 11p

2000s - LC - Walker v. LSW (Life Insurance Company of the Southwest) ---  [BonkNote]