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Main Subject - Fundraising: Raise Millions Without a Pledge Drive
There’s a quiet revolution in the insurance industry that’s freeing up literally millions of dollars to qualified senior citizens, and non-profit organizations stand to benefit by very significant d
According to USFDA, a combination product is one composed of any combination of a drug and device; biological product and device; drug and biological product
onations from this historically generous group of donors.
In the last ten years, insurance companies have looked at the high lapse rate of term policies for folks in their 70’s and 80’s. The premiu
In the last ten years, insurance companies have looked at the high lapse rate of term policies for folks in their 70’s and 80’s. The premiu
; or drug, device, and biological product and fixed dose combination would include two or more combinations of drug.
Examples of combination products may in
Examples of combination products may in
ms were just too expensive and there was less perceived need by the insureds compared to the family-rearing years. Insurers were watching billions of dollars of premiums vanishing and decided to try
lude drug-coated devices, drugs packaged with delivery devices in medical kits, and drugs and devices packaged separately but intended to be used together.
something radical.
As a result, premiums for these policies have dropped up to 40% in recent years to lure seniors to continue paying, to rates that are not even based on actuarial data at this po
As a result, premiums for these policies have dropped up to 40% in recent years to lure seniors to continue paying, to rates that are not even based on actuarial data at this po
here is enormous increase in the number of combination products entering the market in the recent years. Combination products have proven advantages but fixe
int in many cases. Millions of older folks have kept their policies a couple more years before lapsing, resulting in huge recovery of revenue for the insurers…and it resulted in something else too,
d dose combinations are still in the process of convincing regulatory authority on their advantages over the single ingredient formulations.
Combination pro
Combination pro
a massive opportunity for investors.
Institutional investors, always on the lookout for decent return on investment, saw an opportunity and have jumped on it in big numbers. They can make an irresi
Institutional investors, always on the lookout for decent return on investment, saw an opportunity and have jumped on it in big numbers. They can make an irresi
ucts have become life saving products for the pharmaceutical companies who doesn’t have many innovative molecules in their product pipeline and have been inc
stible offer to qualified seniors to provide free term insurance for two years, during which time the insured names their own beneficiary. The finance company sets up a life insurance trust, pays th
easingly used in the product life cycle management. Even the companies having product patents are trying to extend their product life cycle through the combi
premiums, and administers payments, while the senior is the policy owner. In addition, the senior can receive an equity payment of around 3% of the face value of the policy shortly after it’s in pl
nation products and maximize the revenues. But the companies involved in this practice are overlooking that they are burdening the patients both economically
ace, resulting in tens of thousands of dollars to them, sometimes hundreds of thousands…all without cost or risk.
At the end of two years, the senior has various options. Most will choose to sell t
At the end of two years, the senior has various options. Most will choose to sell t
and physically. They need to rightly judge the benefits of the combination products and they have to even look at the risks involved when combining the produ
he term policy on the secondary market, at which point the purchaser continues premium payments for the remainder of the term and eventually receives the death benefit upon the death of the insured.
ts. Some of the combination products were well accepted by physicians while others suffered. Companies involved in development of combination products are fi
The senior can also keep the policy and take over premium payments themselves, generally only considered by the family in the event of an untimely diagnosis of a terminal condition.
Let’s look at
Let’s look at
ding difficulty in defining their combination products and facing various challenges from selecting a combination to marketing it.
Following aspects would a
Following aspects would a
how this worked in one recent example. A 78-year-old gentleman had a net worth of $15 million, with $5 million in existing life insurance, leaving him $10 million unused insurability and about a 10-
dd to the challenges in developing combination products:
Which markets to tap where the combination products can do fairly well?
Which combination prod
Which markets to tap where the combination products can do fairly well?
Which combination prod
year remaining life expectancy. He was offered an $8 million term policy, with all costs paid by the funding company, as well as $353,000 in cash once the policy was in place. After keeping out enou
cts are meaningful and rational?
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
Which therapeutic categories to select?
Which Combinations can address unmet needs of the patients?
Do combin
gh for capital gains taxes, he invested the remainder for his grandchildren’s education. This cost him nothing out of pocket, and in fact this is where the enormous charitable donations can come fro
tions increase the patient compliance?
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
What would be the developing cost?
How to tackle the risks encountered during combination product developmen
.
The funding company took on the premiums of $400,000 per year x 10 years ($4 million), so their total cost (including the cash bonus and nominal set-up fees for the trust) over 10 years will be r
The funding company took on the premiums of $400,000 per year x 10 years ($4 million), so their total cost (including the cash bonus and nominal set-up fees for the trust) over 10 years will be r
t?
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
As combination products don't fit into the traditional categories of drugs, medical devices, or biological products, the USFDA is in the process of devel
oughly $4.5 million, while their pay-out will be $8 million on the death of the insured. It’s a win-win-win situation.
There have been some rumblings by the insurance industry regarding these inves
There have been some rumblings by the insurance industry regarding these inves
ping new procedures for reviewing their safety, efficacy and quality.
Professional from academic institutions, pharmaceutical industries, health care indust
Professional from academic institutions, pharmaceutical industries, health care indust
tor-financed life insurance policies, and even attempts to form legislation to block the opportunity for investors and insureds. However, they clearly want to have their cake and eat it too, as it i
y and representatives from various regulatory agencies are working out to design the regulatory requirements for manufacture and sale of combination products
s their own reduced pricing strategy in senior policies that makes this arbitrage opportunity available for investors. Consumer rights advocates are stepping into the arena to provide the balance an
.
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
As there is an increasing trend of the combination products companies manufacturing such products should be able to tackle the problems involved in the de
d make senior consumers aware of their flexible options.
Upon learning of this type of program, some people believe it’s too good to be true. It is good and it is true, but it won’t always be avail
Upon learning of this type of program, some people believe it’s too good to be true. It is good and it is true, but it won’t always be avail
elopment. They need to be wiser in analyzing the market trends and the regulatory requirements.
Companies that provide selfless information through particip
Companies that provide selfless information through particip
able. At some point the increased pricing policies of insurance carriers will begin to close the opportunity for investors. Until then, the biggest winners are seniors and the charities they support
tion in industry events and feedback to regulatory authorities would be able to face the challenges and will be successful in developing combination products
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