Cheapest 30 yr non med level term age 29

[DonP]

Here’s 2nd page of letter he sent me

 

[Allen Trent]

Here’s 2nd page of letter he sent me

nice--you need to keep paying your premiums for $1M, but claim might only pay out $300k

Hopefully he is insurable, but this doesnt sound good at all.

Scary thing is several life carriers that wrote a lot of business 15+ years ago are either no longer in business or no longer selling life insurance (Jackson National, Met Life, GE, Phoenix)

 

[goillini52]

P+ ?

Yes

 

[goillini52]

Remember the old days when they would let the agent do the swabs?

Were those oral, or anal swabs?

 

[rmhaire]

Were those oral, or anal swabs?

I did the oral and you did the anal. I remember you telling me how much you loved your job.

Remember when the companies let us do the free mammograms? Cut two holes in a cardboard box and put it on your head and ...... Never mind. I'm thinking about something else.

 

[WinoBlues]

Here’s a question for all . My friend had a $1 mil guaranteed 30 yr level term with Phoenix life . The policys about 20 yrs old with 10 yrs to go . Phoenix was taken over by the state . He got letter from state his death benefit max is $300 k during rehabilitation. Phoenix life was known for selling cheap high face amount term . No company is going to buy a 30 yr level $1 mil term at $90 a month with 10 yrs coverage left . The liability is huge with so few yrs left and small premium . What will happen to this policy ? Can an acquiring company reduce the face amount ?

What state is the owner in?

And what @Tahoe Ray said.

 

[WinoBlues]

Were those oral, or anal swabs?

Depends

 

[WinoBlues]

nice--you need to keep paying your premiums for $1M, but claim might only pay out $300k

Hopefully he is insurable, but this doesnt sound good at all.

Scary thing is several life carriers that wrote a lot of business 15+ years ago are either no longer in business or no longer selling life insurance (Jackson National, Met Life, GE, Phoenix)

True, however the cases I have with JNL, Met and GE are still inforce for the full face and CV, Last I checked they were still convertible. No Comp and usually a crappy conversion option though.

 

[DonP]

What state is the owner in?

And what @Tahoe Ray said.

Tx .

 

[DonP]

nice--you need to keep paying your premiums for $1M, but claim might only pay out $300k

Hopefully he is insurable, but this doesnt sound good at all.

Scary thing is several life carriers that wrote a lot of business 15+ years ago are either no longer in business or no longer selling life insurance (Jackson National, Met Life, GE, Phoenix)

He’s 52 now . Even a $1 mil for 10 yrs is going to be at least $300 a month . He pays $90 a month