18 M NT - Arrested 2 Months Ago

Aug 10, 2015

  1. Birdman300
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    Birdman300 Guru

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    Grandma wants to buy a policy on her G-son.

    He was arrested about 2 months ago. Not yet been to court, so not convicted yet, nor sentenced.

    Wants about 10-20k on him. I'm a FE agent so I don't really know that many options for <40 types.

    Thanks
     
  2. LGilmore
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    LGilmore Guru

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    I don't think there is much for the under 40 going to jail crowd. At least I've found in the past, jail matters to underwriting, maybe not with some, but the few times I've run across situations where jail is a possibly, it's a big no. Sorry.
     
    LGilmore, Aug 10, 2015
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  3. ShawnSIM
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    ShawnSIM Super Genius

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    Let's remember that this young man is innocent until proven guilty. Pick up an Assurity, UCT, Sentinel, LBL, Trans, or SLAICO contract and go write this thing before he goes to court!
     
    ShawnSIM, Aug 10, 2015
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  4. meclimit
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    meclimit Expert

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    While everyone is innocent until proven guilty, often whether the person is "guilty" is not what the insurance company is asking on its application. Just make sure the application does not ask whether he has been "charged or convicted". If it only asks the question of whether he has been convicted of any crime, then he can probably say no. You may also need to verify that the answer on the application remains true at the time the policy is delivered and placed into force.
     
    meclimit, Aug 10, 2015
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  5. WinoBlues
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    WinoBlues Guru

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    That.

    Simplified Issue. Minimum questions and quick issue.
     
  6. Lewis_FL
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    Lewis_FL Super Genius

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    Mutual of Omaha Accident Only term. They don't even ask. It's guaranteed issue. In case he slips on a bar of soap...

    ----------

    Or National Western. They only ask about felonies.
     
    Lewis_FL, Aug 11, 2015
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  7. LGilmore
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    LGilmore Guru

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    But always remember there is a agents page to fill out too. If you know something that is pertinent to underwriting, disclose it. A 25k policy is not worth having your contract severed by a carrier.

    While life might not pay as well being honest about things, it sure is easier to get through. I would call the underwriter of whom you're thinking of using and just simply ask upfront before you get too far in.
     
    LGilmore, Aug 11, 2015
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  8. 48vwayne
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    48vwayne New Member

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    I have something, at his age there is simple underwriting and felon is not one of the questions
     
    48vwayne, Aug 11, 2015
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