Multi-Applicant "Eligible Group" Scenarios
The MNLP minimum can be met on multi-applicant (husband/wife; immediate families; business partners, etc.) “eligible group” scenarios as long as at least one applicant in the group meets the basic minimum. The “eligible group” to be considered must be clearly stated by the agent at time of submission(s). An “eligible group” must demonstrate an obvious, common relationship between/among the applicants (“same gent”/”same agency” cannot be one of the criterion). Bulk submission of otherwise unrelated cases also cannot be used to meet the minimums established herein. Underwriting reserves sole discretion to judge the validity of an “eligible group.”
- Minimum global net worth = USD$1MM
- Third-party financials over $3MM death benefit
- Inspection reports over $10MM death benefit
*For Transamerica Financial Life Insurance Company (TFLIC) the max face is limited to internal retention amounts only.