Applying for Life Insurance W/ 14 Yr Old Felonies

db682

New Member
I was curious what some of you pros can tell me about the application process and more specifically the issues that I may be looking at if I go through with applying for Life Insurance.

I have a couple of felonies that are 14yrs old. I was a juvenile when the crimes took place and I am 32 now. The judge made an example out of me to my co-defendants and charged me as an adult. Me and my wife have been filling out the apps (Auto-Owners) and a friend of myself and my boss is the agent. He, nor my boss, are aware of my past and I want to keep it that way. They have never asked, so I never told. On the apps they specifically asked if any criminal offenses have occured in the last 10 years. My agent helped fill it out with me and we checked no. Will Auto-Owners look past 10 years and if so will they penalize me even though I answered honestly? I am scared that if I get denied or something not only could it mean no life insurance but also no job if my agent slips in front of my boss about it. Should I look elsewhere?

I've graduated from a very well respected college and have a nice house and great wife. We are planning on kids next year and I just dont want to do anything that could hurt my family. My agent recommended 600k for 30years for both of us because of our house and plans for kids and the future and stuff.

How bad is this looking for me? I truelly regret my past and have tried to learn from it and become a much better person but it situations like this that scare me to death. I am more worried that I will let my wife, parents, boss and co-workers down and it will just be very hard to convince them otherwise.

I appreciate any advice anyone can share.

Thanks,
 
I was curious what some of you pros can tell me about the application process and more specifically the issues that I may be looking at if I go through with applying for Life Insurance.

I have a couple of felonies that are 14yrs old. I was a juvenile when the crimes took place and I am 32 now. The judge made an example out of me to my co-defendants and charged me as an adult. Me and my wife have been filling out the apps (Auto-Owners) and a friend of myself and my boss is the agent. He, nor my boss, are aware of my past and I want to keep it that way. They have never asked, so I never told. On the apps they specifically asked if any criminal offenses have occured in the last 10 years. My agent helped fill it out with me and we checked no. Will Auto-Owners look past 10 years and if so will they penalize me even though I answered honestly? I am scared that if I get denied or something not only could it mean no life insurance but also no job if my agent slips in front of my boss about it. Should I look elsewhere?

I've graduated from a very well respected college and have a nice house and great wife. We are planning on kids next year and I just dont want to do anything that could hurt my family. My agent recommended 600k for 30years for both of us because of our house and plans for kids and the future and stuff.

How bad is this looking for me? I truelly regret my past and have tried to learn from it and become a much better person but it situations like this that scare me to death. I am more worried that I will let my wife, parents, boss and co-workers down and it will just be very hard to convince them otherwise.

I appreciate any advice anyone can share.

Thanks,

What were the felonies for? Usually applications will ask if you have been charged with any crimes in the last 10 years, but will also ask something to the effect of "Have you ever been convicted of or are you awaiting trial for a felony?" (example pulled from Lincoln National app). Just because you had it as a minor won't necessarily disqualify you. You want to show the insurance company that you have changed for the better, matured, have a wife and kids (or planning on it as you said), steady job, etc. This is probably something that you should have pre-screened with multiple companies to find out what the likely answer is ahead of time rather than just putting in an application and hoping it works out. Keep in mind that your life insurance has a two year contestability clause. I would VERY carefully read the question(s) on the application to make sure you are answering truthfully.

I would also venture to guess that Auto Owners Life Insurance is not very competitive price-wise with other term companies, and that $600k is not nearly enough coverage to replace your income/pay off mortgage/send kids to college/etc. How did your agent come up with the exact number $600k?
 
Burglery and possession w/ intent to sell cocaine.

I have not actually given the apps to the agent yet. He basically quoted a bunch of different rates for us and I asked for the apps for when we are ready to start the process. I have one right here in front of me and it clearly says.

During the past 5 years have you:
(e) been convicted of driving while impaired or intoxicated, reckless driving or 3 or more speeding violations.
(f) Been convicted of or are awaiting trail for any crime other then a misdemeanor, including currently being on parole or probation.

(a)-(d) basically just ask if you have been previously refused insurance, skydive or do other crazy activities, are in the military and pilot or crewmember of aircraft.

There is nothing else in the 9 page app about any criminal histories.

I am 100% positive that I have answered every question truthfully and have withheld zero information that was asked. As said before I am not proud of my past and the choices I made and have accepted the fact that I screwed up royally.

If you dont think auto-owners is any good can you recommend any companies that may work with me. I will most likely look into a different agent that way I can feel more comfortable about discussing my past with them but I just wanted to know what to expect.

I understand that alot of people dont feel like I should be given a second chance but my wife did and I want to make sure she (and my children) is going to be okay should something happen to me. I love my wife and my family only want the best for them.
 
I second the, read the applications.

I have done several Felons. It is a matter of going over the information with an underwriter in most cases. Or finding a company that does not ask the question you do not want to answer. However, in that your agent knows your boss, that changes it. First your agent should not disclose anything about you to anyone. That being said, the reality is he very well could spill the beans. A few beers can do a lot of damage.

If you were looking for a couple hundred thousand. I would say at your young age just go with a simplified issue term. But for the amount you need I would shop it out with a good independent agent in your State. Be VERY clear with them that you want them to go over your situation with the underwriters before you submit an application. Be Very truthful with the agent. I would not go for a rated case that has something put into the MIB. You want an application that does not ask the question.

14 years ago should be no problem. 10 years is the magic cut off for a lot of companies. The other question is when were you a free man? No parole or probation?

Your out on this could be a lower quote from the internet. I have never heard of Auto-owners. Go to term4sale.com, run a quote and use that to have your buddy stop (cancel) the app while in underwriting. No black mark that way.
 
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I appreciate all you help guys. No application has been ran through yet. I still have both of them. He called today and wanted to start running them and I told him I didnt have them with me. Nothing should be happening in underwriting since they dont have my signatures to do anything yet. They dont even know my social security info.

Is there a good way to find a good agent that will work with me? Websites or anything?
 
Depending on what state you are in I would start here. Some by the flags of the state these guys are in. However, Many agents are in several states. I would also look for an agent that is a Life Insurance Agent. Not just a insurance salesman. You want someone that will be there for the long haul.

By the way, if we were all judged by what we did in our teens and twenties. Most of us would not have Insurance licenses. Hell, my teens and twenties were the 60s and 70s, I think, can't seem to remember.:goofy:

Good Luck

I appreciate all you help guys. No application has been ran through yet. I still have both of them. He called today and wanted to start running them and I told him I didnt have them with me. Nothing should be happening in underwriting since they dont have my signatures to do anything yet. They dont even know my social security info.

Is there a good way to find a good agent that will work with me? Websites or anything?
 
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So your agent "knows" and also knows your boss?

It shouldn't a be a problem with anyone due to how long ago, but as others have said read the app. Things also change DUI's used to be a kiss of decline, now after about 7 years with no further problems, not a problem.

The one thing I'd do especially since this agent "knows" is have him contact underwriting with the question and get an answer before you turn in the app. Basically "how would this situation be underwritten?" Then if the underwriter shoots it down, no record of it and no anger on the part of the agent.

I would think before dumping the agent and going elsewhere. Why give the guy a reason to blab out of anger? It's one thing if an underwriter says no, it's something completely different if you do.

While we're suppose to keep confidence, not everybody does. Good luck and I think you'll be OK.
 
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