EX-NFL Football Player

Aug 18, 2015

  1. insuranceconceptscindy
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    insuranceconceptscindy Guru

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    One of my agents asked me if she could get an Ex-NFL player a life policy written as standard. Apparently, she tried about 6 or 7 years ago and it came back rated and he didn't take it. He currently has a wife, 2 young kids and NO LIFE INSURANCE!!!!!!!

    Here are all of the stats I know:
    Age 45
    6'3"
    290
    no meds
    no major health issues (except for all of the injuries, I'm sure he got while playing)
    Not sure the face amount he's looking for, or kind of policy. My suggestion to the agent is to see what kind of budget we are looking at and get him the best bang for the buck, especially if he's going to be rated.

    Thoughts on where to go?
     
  2. smokin goose
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    smokin goose Guru

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    I'm confused about the football part being an issue. Do companies rate different for ex athletes?
     
  3. WinoBlues
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    WinoBlues Guru

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    He needs to find out why he was rated and with who? Company A may rate a guy that Company B gives Preferred.
    How much, How long, What is the budget?

    Rated is rated. Tablet rated can be cheaper than some product's Std. Does not matter what it is called, it is the price.

    If everything else is good there _could_ be some credits for him. Table shave? How he is built can matter as well. Is his chest bigger than his waist?

    Example of Std Pru at 6'3" goes to 304 on STD.

    ----------

    They have to give East Coast Players cognitive test.
     
  4. Cash
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    Cash Guru

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    Quick guess would be Pru.

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    And why would they do that? :twitchy:
     
    Cash, Aug 18, 2015
    #4
  5. Gooner
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    Gooner Guru

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    And west coast players drug test??
     
    Gooner, Aug 18, 2015
    #5
  6. insuranceconceptscindy
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    insuranceconceptscindy Guru

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    Thank you guys!
    I'll go with Pru first and see what they come up with. I am also concerned about the possible head injury issue. My agent told me that the guy was not a starter, so it's possible that he is less likely to have any major injuries that would get in the way.
     
  7. TwiLight
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    TwiLight Guru

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    That only means he was used as a tackling dummy for the REAL players.
    :D:D

    Seriously though, you need to do a complete history before shopping.

    He probably has back and joint issues with many pain meds. Adding HBP and anxiety meds to that and most likely will be rated again.

    Not sure whom you use for a BGA, they would be best to look at the case with their underwriting manager and fill out a pre-assessment. Pinney and LEGACY have one for example.

    I do alot in the sports market and the pain management is the first issue, obviously concussion/head trauma is to be looked for NFL players.

    Skipper
     
    TwiLight, Aug 19, 2015
    #7
  8. BNTRS
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    BNTRS Guru

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    Discuss his specific health history with him to know what is going on when you communicate with underwriting either through part II or any other form of communication (e.g. cover letter or follow up UW questions).

    UW likes information and likes as much information up front as possible. Sometimes seemingly weird things with good explanations are no big deal.

    For example, if he suffers from chronic pain he could take an SSRI. Sometimes used for pain management because there's no addiction risk. If this isn't mentioned up front, UW could think there's a depression or anxiety issue that's not being disclosed.

    If he's still headed into rated territory no matter the company, American General and Banner rate off a standard plus-like basis making them very price competitive vs. others.

    But then again...

    One company's table 4 might be another companies table 2.

    How big is the case? MetLife and Lincoln National are two carriers that can be pretty flexible if the case is large enough. Prudential (as has been mentioned) is strong too, but my experience has been they tend to stick closer to their guidelines--but they are liberal guidelines.

    In addition to all of this, I'd develop an estimate on price worse case scenario and see if he's interested at all in paying that premium. Situations likes this can suck up a lot of time and if you are no where near his planned premium you might want to be careful about how much time you spend on this. The NFL is well known for being one of the lowest paying major sports leagues in the United States and players tends to spend a lot of what money they do make when they are active and earning it.
     
    BNTRS, Aug 20, 2015
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  9. LGilmore
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    LGilmore Guru

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    First off, forget he is an ex NFLer. Treat him as you would any 45 year old guy who is heavy. Ask health questions, do a little pre underwriting. He was rated before find out why if you can. Have a feeling you don't know the whole story.
     
    LGilmore, Aug 20, 2015
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  10. ATM
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    ATM Super Genius

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    He's standard if he doesn't have any other issues.
     
    ATM, Aug 25, 2015
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