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had been requested by Drs. DeAngelis and Domingo to help them
determine whether they wanted to make any additional
contributions on their policies. The illustrations assumed that
premiums were paid for only 3 years, 4 years, or 5 years. Mr.
Katz informed Mr. Freeman that the projected severance benefits
for Drs. DeAngelis and Domingo were approximately the cash values
in their policies. Mr. Katz informed Mr. Freeman that he was
formulating illustrations for the policies that would show a cash
withdrawal of severance benefits and the premium required to
continue the policies thereafter. On September 20, 1995, Mr.
Rapp provided Drs. DeAngelis and Domingo with answers from
MetLife and STEP to questions asked by those doctors.
On or about October 30, 1995, Mr. Katz provided Dr.
DeAngelis with revised illustrations for his insurance policies
showing only 2 years of out-of-pocket premium payments. Mr. Katz
also provided Mr. Freeman with various other illustrations for
the insurance policies written on the lives of Drs. DeAngelis and
Domingo.
VIII. Payments of Premiums
A. Dr. DeAngelis Policy
The December 28, 1993 and 1994, premiums of $81,596.64 on
the policy written on the single life of Dr. DeAngelis (Dr.
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