How is that Guaranteed Issue?
Yeah, I asked myself the same thing when I read it... I suppose ALL policies are guaranteed, if you meet the guidelines!
GI Final Expense
- Thread starter jackdaniel
- Start date
Yeah, I asked myself the same thing when I read it... I suppose ALL policies are guaranteed, if you meet the guidelines!
- 30,590
A True Guaranteed Issue Whole Life!
Issue ages: 45-75 (Age Last)
Face amounts: $5,000 - 10,000.
NO health questions, NO PHI, and NO fluids testing!
Agents must affirm, to the best of his/her knowledge, the following for a GIWL Proposed Insured:
That the Proposed Insured was present when applying for GIWL - Power of Attorney apps not accepted.
Not confined to a hospital, hospice, nursing home or convalescent home or does not require home health care.
Does not have AIDS or is not HIV positive.
Has not been diagnosed with an illness expected to cause death within 24 months.
Is not engaging in intravenous drug abuse.
NOTE: GIWL sales can be no more than 25% of an agent's total book of business with the Company.
They contradict themselves in several places.
I will have to formally write to them on this policy. Even the restrictionon the amount of business agents can write is a question mark against this plan.
- 19,673
- 15,041
There are no health questions, of the applicant.
Haven't you ever heard, "Ask me no questions and I'll tell you no lies"?
Just don't ask.
There are no health questions, of the applicant.
Haven't you ever heard, "Ask me no questions and I'll tell you no lies"?
Just don't ask.
I think you've got a point there... "Agents must affirm, to the best of his/her knowledge..." If we follow the letter of the law here, we simply affirm that so far as we know, they qualify. It means we can't go to nursing homes & sign everyone up, but if we meet someone and don't want to qualify them for anything else... They're good. Looks like that statement is UHL's version of a "wink-wink nudge-nudge" understanding.
- 15,041
Pretty much.
A more important point. The question is asked of the agent, it is not asked of the insured. Therefore, no way for the insurer to contest the policy. They can only go after the agent.
- 30,590
Kind of like when a Banker's Life agent white sheets an app?
I'll just play it safe and write a true GI with Kemper. I don't know about the price, but Kemper has greater range in age and face amounts.
A True Guaranteed Issue Whole Life!
Issue ages: 40-80 (Age Last)
Face amounts: $5,000 - $25,000.
Kind of like when a Banker's Life agent white sheets an app?
I'll just play it safe and write a true GI with Kemper. I don't know about the price, but Kemper has greater range in age and face amounts.
A True Guaranteed Issue Whole Life!
Issue ages: 40-80 (Age Last)
Face amounts: $5,000 - $25,000.
Vantis and Gerber also have true Guranteed Issue
- 7,012
Security National Life has a graded plan that is ROP +10%. There are health questions and a ht/wt chart, but if theyre under 50, their rates blow Kemper away. I dont know about over 50 though. Vantis and Gerber may still win out. But for a few bucks more a month and 90% comp, I think I'll go with SNL.
I bet you could fit 75% of your GI clients with them.
I bet you could fit 75% of your GI clients with them.
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