Americo non smoker clause

[goillini52]

Client does have to be tobacco free for 12 months (any form of tobacco). Client would have to submit a urine sample before the policy anniversary to continue to receive non-smoker price and full death benefit OR client can reduced benefit to maintain same premium OR client can raise premium to smoker rates to maintain same death benefit.

Would the agent have to witness and cetify that that's really the policyholder's urine?

That'd be about as bad as having to "swab" them for an illegal DNA Cancer Sreening scam.

 

[MedicareGal]

And who pays for the urine sample process?

Not 100% sure but I THINK it is paid by the company.

Would the agent have to witness and cetify that that's really the policyholder's urine?

That'd be about as bad as having to "swab" them for an illegal DNA Cancer Sreening scam.

Nahh, bro. It is done by a paramedical company.

 

[goillini52]

Not 100% sure but I THINK it is paid by the company.

Nahh, bro. It is done by a paramedical company.

That's a RELIEF!!! That's where I'd draw the line.

 

[rousemark]

Then why did you say it was a modified whole life?

Because it is.

 

[billyb]

MedicareGal must think this product is a good deal. Personally I will not sell it.

 

[goillini52]

MedicareGal must think this product is a good deal. Personally I will not sell it.

I wouldn't sell them either. Between the MIB Plan F rescissions a few years ago and this fasco, they seem mighty shady to me.

https://insurance-forums.com/commun...-expense-product-improved.78655/#post-1049984

 

[Newby]

Looking forward to the new influx of inventory over the next 3 to 5 years.

It's already started. When you run across them you just explain how it works. Then quote real tobacco rates with KSKJ or your favorite price buster and just like magic. Instant sale.

 

[Newby]

From what I understand if the insured want to keep the rate they must document in their physician's file the date they stop smoking. The doctor must document the progress. And the doctor must sign off once he is convinced that the patient has not smoked any tobacco products (or vape) for 12 full months. Then after all that they get to keep their rate.

However if they have actually done all that they can reapply as a non smoker with a different company and get a better rate.

So I don't think Americo thought this one through too good.

 

[DayTimer]

Americo is not an agent friendly company either. If I am not mistaken, there is a 100% chargeback for death in the first 9 months even if the app was clean and the Americo pays the claim.

Also full chargeback for any lapse of Eagle product in first three months.

 

[nfl72]

When I was going over the policy at the insured's home I was on hold with Americo for ten minutes or so. That is when I found the letter from Americo that explained the policy and how it works. I believe the rate ie monthly payment stays the same. After three years if they can not prove they no longer smoke the face amount gets cut from $5000 to $2900.