Final Company Ages: 80 - 85

Dec 31, 2008

  1. honestagent
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    honestagent Guru

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    Hi.

    Can anyone recommend a competive carrier for those over 80 and under 85 please? I know most issue to age 80.

    I know a lady who seeks some coverage. She's 82 non-smoker, healthy.


    Can anyone advise?

    Also, with what is shared, would you know if the underwriting questions are standard to the rest or are they more stringent due to age?

    Thank you much in advance!
     
  2. Mark
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    Mark Guru

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    American Amicable go to age 85. The questions are the same as any other whole life application. There might be more underwriting with some companies. It is not everyday you find a healthy 82 year old. Just to give you a heads up, the prices will be much higher then someone younger. She is close to death and don't be shocked when they want her to pay 8,000 on a 10,000 policy. On avg, she don't have but a few years left in her.

    If you need some help, just contact me and I will see what I can do to help you.
     
    Mark, Dec 31, 2008
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  3. Russ
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    Shenandoah Life goes up to age 85 on their New Vista product.

    www.shenlife.com





    8,000? You must be quoting single-premium? Shenandoah Life's monthly PAC rate for 10,000, standard issue for an 82 year-old female, is $121.93.

    Close to death???
     
    Last edited: Dec 31, 2008
    Russ, Dec 31, 2008
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  4. Todd King
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    Todd King IMO/FMO Owner

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    American Amicable is good but you can only write up to 15K. The rate is 142 per 1000. Simplified issue.
    I find UTA is very good. You can give her up to 25K and the rate is only 130 per 1000. Simplified issue of course.
     
  5. Drewrilla
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    Drewrilla Expert

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    Assuming she is healthy and seeking over $100K, I would recommend John Hancock. They have superior underwriting for older clients and we obtain more standard offers on the upper ages than any other carrier. They are probably within 10% of the most competitive carrier.

    Let me know if you need help becoming appointed with them.
     
  6. anyloan2
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    anyloan2 Expert

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    Lincoln Heritage Can Do It Until Age 86 1/2. They Are The Only Gi That Give Free Funeral Consumer Guardian Society That Works With The Family At Time Of Death And Negotiates Costs!


    Adam
    559-363-3066
     
    anyloan2, Dec 31, 2008
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  7. jdeasy
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    He doesn't need a GI. What LH chart are you looking at that goes past age 85? Their modified stops at age 85. Their FE stops at age 85. Their 20 pay stops at age 80. Their Preferred whole life stops at age 70 and their term stops at age 70.

    The FCGS is included with all their policies. It can also be purchased directly from FCGS for $5.95/mo. If the FCGS is something a person wants, they can save more than $5.95/mo going with RNA, Shenandoah, Americo, etc. and then buy the FCGS.
     
    jdeasy, Dec 31, 2008
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  8. honestagent
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    honestagent Guru

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    Wow thanks for the responses! I will contact those who availed themselves for further assitance and I greatly appreciate it very much - and - prior to - I will call the prospect one last time for the last 'tie down' before I shop this for her.

    Thank you so so very much again!!!! :)
    - - - - - - - - - - - - - - - - - -
    BTW, it's been a while since I've written final.

    Okay so I may not have a case then.. because we have a budget here...

    The deal breaker(as for her budget) is $70.00 a month... that's the fine line of the tail end of her budget we have here.... Anything over.. and there is = no deal.

    Can anyone please help or advise? What can, if it can, 70 bucks a month buy (how much DB)?

    p.s. Americo is not an option for me since Parker and asses still 'have' me tied with them.
     
    Last edited: Jan 1, 2009
  9. Russ
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    Probably around 6K.
     
    Russ, Jan 1, 2009
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  10. Joe Moore
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    Like most other companies I have seen writing this age group, Shenandoah will cut commissions by around 30% for ages 81-85, which is understandable. I was involved in helping design this policy for them, and I nor any of the other IMO's helping design it had a problem with the commission arrangement.

    Our website for Shenandoah agents: www.shenagents.com
    It will be updated with the New Vista in a few days.
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    With Shenandoah New Vista I, it would give $5,629 benefit.
     
    Last edited: Jan 1, 2009
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