- 8,707
Other than presidential can you think of another graded policy for 10K for a 61Yr old non-smoking male that is insulin diabetic and has Skin Cancer Melanoma.
61yr Male Insulin Diabetic & Malignant Melanoma
- Thread starter Norwayguy
- Start date
- 19,648
LH would cover him, it would be $97.40/mo and paid up in 15 years.
MoO would cover him and the premium would be $55/mo.
Why would the PI qualify for UHL with Melanoma treatment in the past yr...? Basal cell is excluded in the CA question by UHL, but NOT melanoma. Big difference between the two types of CA.
Grange Ins GDB would take him and the rate is $ 69.41 mo. 2 yr wait, refund of prems + 10% annual int.
What are MoO's qualifying questions for their GDB policy? The 55 mo prem seems rather low, and still accept CA risks such as melanoma, (the deadliest type of skin CA). Surprised.
Grange Ins GDB would take him and the rate is $ 69.41 mo. 2 yr wait, refund of prems + 10% annual int.
What are MoO's qualifying questions for their GDB policy? The 55 mo prem seems rather low, and still accept CA risks such as melanoma, (the deadliest type of skin CA). Surprised.
- Thread starter
- #4
- 8,707
I'm confused no one has mentioned UHL, I realize the client would not qualify for UHL because he is recieving treatment in the past 12 months for this...I said presidential would take him on there guaranteed product which is $76.32 with a 3 year wait and only 5% compound on the premium years 1-3. I was wondering if anyone else might take him.
My bad.... I confused Presidential, thinking you had said UHL. Dyslexic today.
Anyway, Grange Life would take him as indicated at $ 69.41 with the 2 yr wait, refund of prem + 10% ann int. Only 3 questons; 1) HIV, 2) Hosp or Nursing home, 3) 12 mo or less life expectancy.
I did look at the MoO product portfolio and they do have a Guaranteed issue product, with NO health questions. My sense is that the $ 55 mo quoted by jdeasy seems too low for a GI product, but maybe he can confirm his quote for the product. If that rate is correct that seems like a strong FE product for someone with serious health issues that wouldn't qualify for most other plans, at little more premium than most fully underwritten FE plans.
- 19,648
Even though I am contracted with MoO, I don't eve sell their stuff. I got that price right off of their flyer that send to people. One of my clients gave it to me. Occaisonally I run into someone that only qualifies for a guaranteed issue and MoO has the lowest rates I've found. I tell those people that they can call up MoO and enrol over the phone, but, I would prefer that they go thru an agent friend of mine that does write it. They usually prefer to see a person and the rate is the same. He has done quite a bit of business from my referrals. He, in turn, gives me referrals when he can't beat the price on companies that I carry.
Anyway, that is the price for a 61 year old male for $10,000 on MoO's guaranteed issue product. It's ROP for 2 years then full benefits and it is a whole life policy. They pay full benefit for accidental death in the first two years.
I don't think they pay the agent very well on it, but, it could just be that guy's contract.
- 1,240
You're right Sports Nut.....the catch is they don't allow agents to write it. They have their own special enrollment department for this plan. I called them and they said they're not letting brokers offer it at this time. In our local newspaper they had a huge add for this plan, No health questions asked at all, everyone accepted
- 19,648
They may not be taking new agents for it then. My friend just wrote one last week that I referred to him.
- 19,648
Why would you sell him something at almost twice the price? I would help him enroll with MoO over the phone and not get paid before I would put him in something as expensive as LH. Hell, Presidential is a better bargain than LH. Yeah, the LH is paid up in 15 years, but, what are the odds that an insulin dependant person with maligant melanoma will make it 15 years? Certainly not good enough to pay double for that gamble.
- 19,648
It has nothing to do with being a better man. It's doing what's right for the client. That will come back around when you treat it that way.
I can give two recent examples. One lady had sent in a lead card and I scheduled an appointment with her. She only qualified for guaranteed issue and she would not/could not afford Presidential or LH. I helped her get on the phone with MoO and she bought a polciy from them. She asked me how I would get paid for it, I told her I wouldn't. About 2 days later her ex-husband called me, I figured he was going to read me the riot act, instead he asked me about his ex's situation and why I did it that way. He was so happy about that that he asked me to come over and see if I could get him covered. I was able to write him on $75/mo policy with a company that I do carry. He then bought a $25/mo policy on their daughter from me. That's $100/mo that I would not have gotten had I not helped the first lady.
Another recent case, I met with a person that was also GI only and couldn't afford Presidential or LH. I called my MoO friend and he went there and wrote it. A day later, my friend called me from one of his client's house that wanted more coverage than he was able to provide. He put me on the phone with the guy and I sold him a $125/mo policy right on the phone, went over the next day and filled out the paperwork. One of the easiest sales I've ever made.
That's 3 recent policies for a total of $225/mo or $2700/ap that I got just by doing what I think is right for the client. Sure, I've had some that I got no money benefit from, but, I did get peace of mind.
BTW, on this 61 year old that this thread was about, the rate for Presidential is $76.32/mo for a $10,000 death benefit. I don't see how that computes to not being better than $97.40/mo for the LH.
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