ADB Expires At Age 80 ?

[noah]

While delivering a SIWL policy that included ADB in the premium,the client pointed that out and asked if the policy expired at age 80. It says on the dec page "ADB to age 80".It caused a question at delivery,no big deal. My question is,why does ADB only go to age 80 ? After age 80,does the premium decrease without ADB in the policy ? What's the best thing to tell the client ?

 

[WinoBlues]

While delivering a SIWL policy that included ADB in the premium,the client pointed that out and asked if the policy expired at age 80. It says on the dec page "ADB to age 80".It caused a question at delivery,no big deal. My question is,why does ADB only go to age 80 ? After age 80,does the premium decrease without ADB in the policy ? What's the best thing to tell the client ?

I assume we are talking about Guatemalan Mutual's ADB to age 80 policy?

 

[VolAgent]

I assume we are talking about Guatemalan Mutual's ADB to age 80 policy?

New company you picked up? Do they send you a free pound of coffee for every app? If so, sign me up!

 

[Norton]

Because when you're over 80, 'accidents' can be pretty commonplace, maybe?

 

[WinoBlues]

While delivering a SIWL policy that included ADB in the premium,the client pointed that out and asked if the policy expired at age 80. It says on the dec page "ADB to age 80".It caused a question at delivery,no big deal. My question is,why does ADB only go to age 80 ? After age 80,does the premium decrease without ADB in the policy ? What's the best thing to tell the client ?

It would be easier if you named the company and product. That way if an agent knows the answer they can give it to you. Otherwise you are not getting an answer to your situation. However, the best option is call that particular company and get the answer for that product.

In general I have been told that it is because simple accidents can easily cause death in older people and happen more often. Think broken hips or a fall and hitting their head.

 

[Todd King]

The OP is referring to Monumental. The premiums for the ADB rider do go away at age 80. I'm assuming that the rider goes away with the premiums as well.

 

[WinoBlues]

The OP is referring to Monumental. The premiums for the ADB rider do go away at age 80. I'm assuming that the rider goes away with the premiums as well.

Is the ADB a charge item or just included with the base premium?

Lee

 

[Todd King]

Is the ADB a charge item or just included with the base premium?

Lee

It's a charge item.

We did find out the real scoop on this. The premium for the ADB actually doesn't go away, it's just added back to the base premium. At least that's what we're told.

 

[WinoBlues]

It's a charge item.

We did find out the real scoop on this. The premium for the ADB actually doesn't go away, it's just added back to the base premium. At least that's what we're told.

That is odd. Sounds more like how UL handles it.

 

[titeye]

Not all companies ADB expire. Depending on age of client, I may or may not recommend. For example, if client is close to attaining age on a contract where ADB expires, I ask if they want to pay extra for it forever, or would they prefer to assume the risk for the next few years.