Grand child riders /Children's WL

Jul 22, 2019

  1. noah
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    noah Guru

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    Have a 5 year old with an insulin pump (diabetes diagnosed age 2) riding 10k on a 50k term policy out of contestability.

    Policy owner wants to ditch the term for WL but does not want dich it unless she can either.....

    1.Get CWL for the 5 year old.
    2.Take out WL and add the 5 year old as a rider.

    Rider has been declined by LBL due to insulin pump.

    I don't write riders or much CHL.

    What's the best way to put this one together ?
     
    noah, Jul 22, 2019
    #1
  2. tribetime32
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    tribetime32 Super Genius

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    Yeah that is a tough one. The best option would be to convert the term into a whole life if possible and keep the child rider. Most companies if not all are going to ask about a "chronic medical condition" or diabetes explicitly. Hope this goes well for you Noah.
     
  3. noah
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    noah Guru

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    No conversion here,Primerica 15 year level then skyrocketing ART.
     
    noah, Jul 22, 2019
    #3
  4. Allen Trent
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    Allen Trent Guru

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    Likely best for client to keep the Primerica term & apply for new Permanent & term elsewhere. Then, ask for a copy of the child rider endorsement contract language. It will spell out what options the Child Rider has long term. IE - many have the right to convert to WL for up to 5x the Child rider amount at some point in time like at age 25 or from age 20-25. Maybe becuase it is Primerica, it will not have a conversion option to WL, but maybe will have a conversion option to term. Hopefully that is the case. I would suggest you reach out to a professional primerica agent with experience, but generally you cant locate someone that has more than a short number of months experience.
     
  5. rousemark
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    rousemark Still Here!

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    Senior life has GI down to age 0..
     
  6. noah
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    noah Guru

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    Primerica does not offer WL.


    Are you saying you would replace a policy out of contestability with GI ?

    Greg wouldn't tell us if it's a 2 or 3 year wait.

    Do you know which one ?

    Would you trust,recommend,and allow your client that currently has coverage with you,to talk to,deal with,and do business with an Senior Life agent ?

    What's the rate for a 5 year old female,10k GI with them ?
     
    noah, Jul 23, 2019
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  7. goillini52
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    goillini52 KeepAmericaGreat...Eat Bacon & BUILD THAT WALL!!!

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    So does Sons of Norway and at a much better price. :yes:
     
  8. goillini52
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    goillini52 KeepAmericaGreat...Eat Bacon & BUILD THAT WALL!!!

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    Sons of Norway would be $6.66 a month for $10K, but you wouldn't want to stick them with that premium, so you could write them more...say $25K for $16.64 a month. :yes:

    How many units of insulin daily?
     
    Last edited: Jul 23, 2019
  9. goillini52
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    goillini52 KeepAmericaGreat...Eat Bacon & BUILD THAT WALL!!!

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    As long as the child has never used more than 50 units a day in the past 5 years, Sentinel Security will take the child Level. $10K/$9.19 a month...$25K/$18.47 a month. :yes:
     
  10. noah
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    noah Guru

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    Can ride Trans for 5k with 0 health questions.
    Convert to WL after 2 years up to age 22.
    Not certain on guaranteed insurability and as usual multiple departments cannot tell me ?
     
    noah, Jul 23, 2019
    #10
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