Max funding means calculating the amount of money you want to be grandfathered to put into your policy, typically based on a Guideline Single Premium (GSP). This is the amount of money you aim to put in during the first 11 years. However, in many cases, you might fund it more quickly.
For example, if you’re planning to put in $500,000, you might do so in five installments over four years and one day. You don’t need to stretch it out over 11 years. By making five payments of $100,000, with the final payment on the first day of the fifth year, you comply with TAMRA regulations. This accelerates your funding process and maximizes the policy’s benefits.
Whole life policies, in comparison, would take six years and one day to achieve the same result.
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