So I have someone who was referred to me asking about life insurance. Male age 80 in VA, currently in remission from stage 4 cancer 1 year ago. FE is not my world at all... I'm sure there are some carriers out there that probably have the appetite for this (graded I assume). Any idea what a premium would look like on something like this, if it could be done? Maybe $10k death benefit.
FE prospect question
- Thread starter pfg1
- Start date
tribetime32
Guru
- 377
You are going to be looking at a modified or guaranteed issue carrier. Personally, I would write American Amicable modified. The reasoning is that they do true social security billing whereas AIG will just draft whenever they feel like it.
AmAm modified price is going to be $241.98 (110% ROP 1st 3 years)
AIG is going to be around $246 (110% ROP 1st 2 years)
For the record I would write AmAm either way in this scenario even if it was more expensive because they will actually take the money out on the right day and their customer service is tenfold better in my experience.
Hope this is helpful! Good luck!
AmAm modified price is going to be $241.98 (110% ROP 1st 3 years)
AIG is going to be around $246 (110% ROP 1st 2 years)
For the record I would write AmAm either way in this scenario even if it was more expensive because they will actually take the money out on the right day and their customer service is tenfold better in my experience.
Hope this is helpful! Good luck!
- 924
Ya bro a 3 year waiting period over other carriers that only have a 2 year waiting period is not what's best for the client.
monstrhuntr
Super Genius
- 169
If the client had cancer a year ago what makes the difference between a 2 year look back and a three year look back?
- 924
Read my statement again.
I said waiting period.
AmAm modified is a 3 year waiting period.
Multiple other carriers would be a 2 year waiting period.
tribetime32
Guru
- 377
If that product is AIG, Great Western or Gerber, then yes unequivocally it is. Those companies don't stay on the books! On paper those products are better because of only having 2 year wait. In reality, way less than half of what I've written GI is still on the books. My persistency with my go-to carriers varies between 85-90%. I'd much rather get my client something that I know is going to be there when they need it most.
This may not be a popular opinion, but I sincerely believe that this 100% is what is best for my client!
This may not be a popular opinion, but I sincerely believe that this 100% is what is best for my client!
- 26,137
monstrhuntr
Super Genius
- 169
Gotcha. My reading skills are gooder. lol
tribetime32
Guru
- 377
I would agree with this sentiment, but a vast majority are.
- 30,588
For $10K...Sons of Norway GI is $131.85 a month...Cigna Modified(ROP) is $191.05 a month. I don't think you can get Graded.
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