Comparing to an endowment

Professional Actuarial Topics Life Insurance
1

So I got a call today from a fellow who’s got one foot in Canada and one in India. He’s comparing insurance.
Specifically he’s being offered an endowment plan in India. Insurance for say 30 years, then payout of all his premiums if he lives.

How do I structure a comparable coverage scenario in North America/Canada? I’m thinking just (premiums for a term policy)+(annual cost to accumulate to the sum of term premiums+annual cost). And ignore the fact that the endowment is one or the other not both.

Anything else I should be looking at? Maybe a WL or something?

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Wouldn’t most comparable be a 30-year endowment insurance for X plus a 30-year term for Face - X, where Face is the death coverage he wants and X is 30 times the combined annual premium?

Or, though maybe bot relevant depending on his requirement for guaranteed rather than illustrative values, a type A UL for Face, and anticipated annual premium set so cash value at year 30 is 30 times the anticipated annual premium

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Don’t get him that term+CI+RoP dealie: I hear it’s for suckers.

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  1. show him something comparable to what he’s looking at, without regard to suitability.
  2. show him something better than what I just provided as a comparison.
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