DI Cant Buy Life Insurance? 2 Questions

[LaughDontCry]

Newby and some others Thank you for the reply.
Apparently none of the most popular FE products are Medicaid friendly.
In other words they all have cash value.
Im fairly certain aLOT of agents are writing FE to medicaid eligible folks.
Other than the 4 suggestions listed.
Is there anything else an agent can do?
Be nice if the carriers offered a SIWL with no cash value.
I know its out there, but its fully underwritten with 25k minimums.
These folks under discussion could not afford it.

Maybe start a new thread for How to help Medicaid folks?

LDC

 

[jdeasy]

Newby and some others Thank you for the reply.
Apparently none of the most popular FE products are Medicaid friendly.
In other words they all have cash value.
Im fairly certain aLOT of agents are writing FE to medicaid eligible folks.
Other than the 4 suggestions listed.
Is there anything else an agent can do?
Be nice if the carriers offered a SIWL with no cash value.
I know its out there, but its fully underwritten with 25k minimums.
These folks under discussion could not afford it.

Maybe start a new thread for How to help Medicaid folks?

LDC

There's plenty of ways already to handle this. Seems you are making more of an issue than there is.

I write medicaid people every week. I don't have any of the angst that you seem to be experiencing.

 

[LaughDontCry]

No....I think Newby satisfied the question.
Im not looking for any more discussion unless it will be helpful.
Thanks to all for the replies!

LDC

 

[Newby]

No....I think Newby satisfied the question. Im not looking for any more discussion unless it will be helpful. Thanks to all for the replies! LDC

The other obvious solutions are to write policies within a funeral trust. There are several ways to do this.

1. Sell companies that have done all the legal work for you and it's a matter of filling out an extra form. Settlers and NGL are examples that have an irrevocable funeral trust.

2. Connect with local funeral homes to see if they allow independent agents to sell their PreNeed insurance which is always Medicaid exempt. This opens the door to a number of companies and products that most FE agents don't usually have access to. Some states do not allow this unless the FE agent is also a licensed funeral director.

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But JD is right. The average agent doesn't run into problems with it very often.