FE Policy for Incarcerated ?

[WinoBlues]

If the son is on death row I don't think any carrier would want to accept him; however, as Newby suggested, pre-need might work in that case.

Probably have a better life expectancy than if he lived in Philly.

 

[GreenSky]

Probably have a better life expectancy than if he lived in Philly.

You have much experience with the life expectancy in prision?

Rick

 

[Newby]

I would not write anyone on death row with a Preneed plan. But short of that, I would have no problem writing a policy on anyone in prison.

If their parents or spouse wanted to buy it, I wouldn't need any signature from the insured.

There are a dozen or so Preneed insurance companies but most will require a funeral home's involvement.

 

[InsuranceMGA]

Death Row? This has to be a joke right? ...I did not know the person was on death row....NOBODY WILL COVER THIS PERSON!!!

 

[360]

If he was on death row, any GI policy would cover him. That's why they call it Guaranteed Issue.

 

[MYOWNCO]

I would not write anyone on death row with a Preneed plan. But short of that, I would have no problem writing a policy on anyone in prison.

If their parents or spouse wanted to buy it, I wouldn't need any signature from the insured.

There are a dozen or so Preneed insurance companies but most will require a funeral home's involvement.

Thanks Newby.
Preneed is not an option. He's not on death row, he is in jail. I don't know all the particulars so I am gathering information as I go.
I think the parents will be the owners and payors and there is insurable interest obviously as well. So now, which carrier is going to be the best is going to be the issue which I'll figure out. This will be a first. I learned a lot and am still learning as the posts come in. LOVE THIS SITE.
Thanks to all the POSITIVE responses. The rest of you should check your attitudes when you're talking to customers--you're alienating buyers and therefore costing yourselves sales. Keep an open mind like I did this whole time. You'll learn more like I did. I still don't know everything...
What about you?

 

[tingeym]

It's funny to see how passionate some people are about this thread. I say a commission is a commission. It's a good thing that they want to help their family when they're dead at least.

 

[sissymary]

Ask for refferals! That's great.

 

[senior-advisor-indiana]

54M - incarcerated - hep C
Daughter wants to buy policy on him. Who can I use?

 

[Baseball7]

Nobody