57 Yr Old Male, Married with One Young Child. He Has COPD and Smokes Cigars

rndz7

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NJ and FL
Monumentals product a of 50,000 WL for a price of 315 dollars a month. The 57 yr old male had a heart attack and quad bypass in 2009.The guy is on SSDI and will collect his pension at 65yrs old. The price of the product is not affordable today. So, my question is this. What if he self insured ?.... 315 x 12 mos = 3780 a year. How long will he live ? Say 20 years. . So 3780 annually X 20 years = 75,600. The Monumental product does not make sense. He needs a cheap life ins product now. Anything to bury the poor guy if he suddenly drops. What do you suggest ?:idea:
 
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Monumentals product a of 50,000 WL for a price of 315 dollars a month. The 57 yr old male had a heart attack and quad bypass in 2009.The guy is on SSDI and will collect his pension at 65yrs old. The price of the product is not affordable today. So, my question is this. What if he self insured ?.... 315 x 12 mos = 3780 a year. How long will he live ? Say 20 years. . So 3780 annually X 20 years = 75,600. The Monumental product does not make sense. He needs a cheap life ins product now. Anything to bury the poor guy if he suddenly drops. What do you suggest ?:idea:

I am not contracted with them, but I don't think Liberty Bankers Life asks about COPD on their health app. Would be level coverage, look up the rates on Fexquotes.
 
What if you projected the cost of a funeral in 20 years time and quoted him that much? Let's say 25k instead. Another possibility would be to just quote 5% lower monthly payment than what he says is affordable. I'm just a rookie but that's what I'd try.
 
Monumentals product a of 50,000 WL for a price of 315 dollars a month. The 57 yr old male had a heart attack and quad bypass in 2009.The guy is on SSDI and will collect his pension at 65yrs old. The price of the product is not affordable today. So, my question is this. What if he self insured ?.... 315 x 12 mos = 3780 a year. How long will he live ? Say 20 years. . So 3780 annually X 20 years = 75,600. The Monumental product does not make sense. He needs a cheap life ins product now. Anything to bury the poor guy if he suddenly drops. What do you suggest ?:idea:

Gleaner has a product that will issue COPD 1st day coverage up to 35,000 for 190.29. "Simply Life Standard". You could bump the DB up with Vantis GI 15,000 for 72.15 for a total of $290.20. 35,000 1st day coverage and 15,000 ROP for two years with 5% interest.
 
He's 57, smokes, has COPD, and has had a heart attack and a quadruple bypass...

If I was a betting man, I would bet he won't be here in another 20 years.
 
Must be the traditional life guy in me but the blaring need seems to start with "young child". They can cremate him pretty cheap. Probably for less than a years worth of cigars. Personally that is where I would start.
 
How about you get him what he can afford and he can bump it up later. I don't get the disconnect. If you find him something that fits his budget you can get a few more sales out of it over the years as he can afford more.
 
How about you get him what he can afford and he can bump it up later. I don't get the disconnect. If you find him something that fits his budget you can get a few more sales out of it over the years as he can afford more.

Based on his condition anyplan he gets now that he can afford is a bonus for him.
And the child is very important in this particular case.
I would look at the GI as a backup or additional coverage.
 
Based on his condition anyplan he gets now that he can afford is a bonus for him.
And the child is very important in this particular case.
I would look at the GI as a backup or additional coverage.

I couldn't agree more. He needs coverage ASAP.

OP do a whole life he can afford then see if you can find a fixed period level premium term. Given his life style he probably won't outlive it.
 
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