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I had a post recently on a small case in which I stated I do not do much final expense. I ended up writing that guy on a GUL policy since it made sense for the face amount and situation.
However, that case just referred me to another client who is unhappy with her situation. She has a $65/month policy with Colonial Penn originally for $10,000 that due to a loan interest outstanding, is quickly going the wrong direction. The policy basis is such that termination the policy would have no tax consquences.
She is sold hook, line, and sinker on the AARP NYL term plan. Through a search on this forum and an anonymous call to their call center, I'm no longer worried about that once the facts are explained to her. She turns 74 shortly and after 1 year will see the rates jump significantly, not to mention she'll have to die before age 80 to collect. Once it's explained, I don't expect to have any more resistence.
There's the background, here is my main concern. She had two aneurisms and stroke, however, those all occurred 7 to 10 years ago. She is currently age 74. Will those alone knock her out of contention for a fairly competitive final expense policy?
However, that case just referred me to another client who is unhappy with her situation. She has a $65/month policy with Colonial Penn originally for $10,000 that due to a loan interest outstanding, is quickly going the wrong direction. The policy basis is such that termination the policy would have no tax consquences.
She is sold hook, line, and sinker on the AARP NYL term plan. Through a search on this forum and an anonymous call to their call center, I'm no longer worried about that once the facts are explained to her. She turns 74 shortly and after 1 year will see the rates jump significantly, not to mention she'll have to die before age 80 to collect. Once it's explained, I don't expect to have any more resistence.
There's the background, here is my main concern. She had two aneurisms and stroke, however, those all occurred 7 to 10 years ago. She is currently age 74. Will those alone knock her out of contention for a fairly competitive final expense policy?
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