Clients with Health Problems

[devoe]

Hi,
I had a few clients get declined life insurance because of health problems. 2 of them had recent heart attacks, one them was a female that got declined because of height and weight. What are some insurance companies that will approve clients with those major health issues? Thanks for any help

 

[rousemark]

It depends on the amount of coverage you are wanting and the age of the insured.. If les than $50K many of the FE companies might accept them. The lady that is too short for her weight would be acceptable with Accendo/CLI. As for the others, how recent are the heart attacks? Depending on that answer coverage may be issued graded/ROP or immediate coverage. If you need more coverage, you could possible stack policies from several carriers.

 

[devoe]

Hey it probably would be about 50k or less. The 2 clients with the heart attacks both happened around July of last year. What companies do you think that would accept them?

 

[rousemark]

Hey it probably would be about 50k or less. The 2 clients with the heart attacks both happened around July of last year. What companies do you think that would accept them?

How old are they?

 

[devoe]

One is 60 and the other is 50

 

[Tahoe Ray]

Hi,
I had a few clients get declined life insurance because of health problems. 2 of them had recent heart attacks, one them was a female that got declined because of height and weight. What are some insurance companies that will approve clients with those major health issues? Thanks for any help

My buddy does these cases (and specializes in them) on 50/50 splits due to the underwriting efforts for fully underwritten policies.

Let me know if you're open to that and I'll pm you his info.

 

[rousemark]

One is 60 and the other is 50

Accendo would accept on a graded - Return of Premium plus interest the first two years.

 

[Sean VanGill]

Every insurer has its own set of underwriting standards, which means they weigh things like health conditions and BMI differently. Some are more lenient than others, so if you’re a “high-risk” applicant, your best bet is to go to an insurer who caters to those in less-than-perfect health — such as Legal & General. A handful of insurers tailor their policies to specific health conditions, too. For example, John Hancock has a policy for those living with diabetes and Fidelity Life opens up coverage for those with cancer. It’s also worth working with a life insurance agent or broker who specializes in risky candidates — they’ll know which insurers are more likely to a) accept your application and b) offer the lowest possible rate. This can save you a lot of time and frustration and help you lock in coverage faster.