Disability or CI for 64 year old?

[HealthGuy]

I have a real estate agent I'm working with, 64 years old. Very good health. She may work till she is 70 and was looking for disability insurance. She makes between 50 to 75 thousand per year. Any easy issue disability for this age braket, or would an easy issue critical illness make more sense and be more affordable perhaps? Any input would be great, thanks to all.

 

[moonlightandmargaritas]

What if she's disabled - and it's not a "critical illness"? What happens then?

At her age, her money would be better spent on a long term care policy.

 

[MikeLevy]

What if she's disabled - and it's not a "critical illness"? What happens then?

At her age, her money would be better spent on a long term care policy.

I agree. Any disability at her age and it will be easy to prove she can't perform 2 ADL's. A disability claim may raise an eyebrow, and qualifying being self employed would be difficult.

 

[somarco]

Look at a cash LTC plan. I can't think of any reason to write DI, if you can even find a carrier to write the plan. If they do, it would be a 1 yr benefit max.

 

[HealthGuy]

Thanks for the posts....She already has long term care.

 

[ciguy]

American General will issue $100,000 through age 64, with only a part 2 needed. Their face value stays level for life. At age 70 the policy pays for claims for "loss of Independent living" only. Anything that would cause the loss of 2 ADL's will trigger a 100k payout. The LOIL is one of the covered illness prior to 70 also. Built in ROP at death

 

[somarco]

Since this thread is still alive . . . are there any carriers that will issue DI on a 64 yr old? I am not aware of any.

 

[MikeLevy]

Since this thread is still alive . . . are there any carriers that will issue DI on a 64 yr old? I am not aware of any.

None that would be worth buying, or selling.

 

[DI Expert]

The useful answer is: Mass Mutual if she's outside California, and Lloyd's of London anywhere.

 

[The DI Doctor]

Do not expect simplified or easy issue with client her age, but with Disability Insurance, Lloyds will be the easiest approach. Traditional carriers are getting more stringent on some financial occupations in the current economy, and real estate is one of them. No official word from Mass yet (the other possible choice) but would not be suprised at this point. Let me know if you have more questions.