Best Policy for Client

[2001mason]

I recently smoke with a potential client who is 65/male and a smoker. He wants $10,000 benefit. American Amicable is $73. 92 a month and Foresters is $73.15. RNA is $89 a month. He said he found a company called Metropolitan that can do it for $15 a month cheaper and that it is also a SIWL policy. Is the company he is referring to Metlife? Are there any companies out there that you all know of that have cheap smokers rates?

 

[jdeasy]

I recently smoke with a potential client who is 65/male and a smoker. He wants $10,000 benefit. American Amicable is $73. 92 a month and Foresters is $73.15. RNA is $89 a month. He said he found a company called Metropolitan that can do it for $15 a month cheaper and that it is also a SIWL policy. Is the company he is referring to Metlife? Are there any companies out there that you all know of that have cheap smokers rates?

He is not getting whole life at $15/month less than those carriers on simplified issue.

Now, if he is a pipe, cigar or smokless tobacco user he could get non tobacco rates with Americo for $55/mo.

Maybe someone has quoted him non tobacco rates?

 

[2001mason]

He is not getting whole life at $15/month less than those carriers on simplified issue.

Now, if he is a pipe, cigar or smokless tobacco user he could get non tobacco rates with Americo for $55/mo.

Maybe someone has quoted him non tobacco rates?

He uses snuff. Does Americo count that as non-tobacco?

 

[jdeasy]

He uses snuff. Does Americo count that as non-tobacco?

Yes. He would get non tobacco rates with Americo. As long as he doesn't smoke cigarettes too. The question on the Americo app is, "have you smoked cigarettes in the last 12 months?".

 

[JGold814]

I've found it's easiest to clarify that issue immediately by asking the client if they "use any tobacco products or have used any in the last 12 months?" and not "are you a smoker or non-smoker?" Then if they say yes to the question, you're able to get the specifics right away (i.e. cigarettes vs cigars vs chewing etc etc) and determine if he could still get non-smoker rates.

i've encountered people who consider themselves non-smokers but smoke several cigarettes a month ("social smokers" as i had one guy put it). Then they get mad when i tell them that means they're a smoker for insurance purposes and will get smoker rates. I like to have all of that cleared up first.

this way...you hopefully reduce the chance another agent swoops in and gets the policy instead.

 

[Norwayguy]

He is not getting whole life at $15/month less than those carriers on simplified issue.

Now, if he is a pipe, cigar or smokless tobacco user he could get non tobacco rates with Americo for $55/mo.

Maybe someone has quoted him non tobacco rates?

On that Death Benefit it could be quite possible the policy underwriting is non-medical only...Now its probably not the 5 or so questions most simplified policies ask but it isn't that many more, I know I've used Illinois mutuals fully underwritten product with success in a small case like this.

 

[jdeasy]

On that Death Benefit it could be quite possible the policy underwriting is non-medical only...Now its probably not the 5 or so questions most simplified policies ask but it isn't that many more, I know I've used Illinois mutuals fully underwritten product with success in a small case like this.

Could be, but they won't beat Foresters by $15/mo. with a whole life policy. If they beat them by that much it's a UL.

Even then they won't beat Americo since they will go non tobacco on the guy.

 

[Biggin]

I've found it's easiest to clarify that issue immediately by asking the client if they "use any tobacco products or have used any in the last 12 months?" and not "are you a smoker or non-smoker?" Then if they say yes to the question, you're able to get the specifics right away (i.e. cigarettes vs cigars vs chewing etc etc) and determine if he could still get non-smoker rates.

i've encountered people who consider themselves non-smokers but smoke several cigarettes a month ("social smokers" as i had one guy put it). Then they get mad when i tell them that means they're a smoker for insurance purposes and will get smoker rates. I like to have all of that cleared up first.

this way...you hopefully reduce the chance another agent swoops in and gets the policy instead.

OK but Americo asks the "cigarette" question specifically. They will tell you if you call underwriting that snuff, pipe, and cigar users are to be given the preferred rate.