my client had a heart attack in july of 2014. I have been trying to find a carrier that would accept him and so far I have had 2 declines. he is 46 non smoker, pretty big guy 6'5 271. We were looking for a term product but I know that that is out! I thought of going joint survivor but I think it is too expensive. He has a pretty strict budget. Would guarantee issue be his only solution?
Heart Attack Over a Yr Ago
- Thread starter dobi
- Start date
- 4,132
He's going to continue to be a decline now that he's been one twice. MIB has those declines recorded at this point.
You should have done advance underwriting for this guy. Not submitted apps. That way there would have been no formal applications.
One year after a heart attack (which unfortunately is probably why the interest is there in the first place) is too soon for any company to offer a cheap premium solution.
Who declined him? You may not be able to find him anything at this point. Does he have life at work? is it portable?
You've also cited he has a strict budget. EVERYTHING you find for him will blow the crap out of his budget as he has no bargaining chip. He has no good health to offer for a cheaper premium anymore.
Sorry to be bad news.
You should have done advance underwriting for this guy. Not submitted apps. That way there would have been no formal applications.
One year after a heart attack (which unfortunately is probably why the interest is there in the first place) is too soon for any company to offer a cheap premium solution.
Who declined him? You may not be able to find him anything at this point. Does he have life at work? is it portable?
You've also cited he has a strict budget. EVERYTHING you find for him will blow the crap out of his budget as he has no bargaining chip. He has no good health to offer for a cheaper premium anymore.
Sorry to be bad news.
- 24,934
That. Unless the client did not disclose. Read: lied
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Post your question in the final expense forum along with the state of the owner/insured.
- 6,993
I don't have them anymore but I seem to remember Americo Eagle offering immediate coverage for HAs 1yr+
So does unl and settlers on their SIWL... Certainly better than going GI
- 29,467
- 717
What companies was he declined by?
Those comments about MIB are just wrong and should be ignored, and being too soon for coverage is also incorrect. Coverage after a heart attack may be available as soon as 3 months after the heart attack depending on his history.
Term insurance is available but he will be highly rated.
You want to find out:
Exact dates of heart attack as it may affect rates if he was 44 vs 45 when heart attack occurred.
What caused the heart attack?
Did he require surgery? bypass, stents, etc?
If yes, what vessels were involved?
When was his last cardiac workup completed and what were the results
Those comments about MIB are just wrong and should be ignored, and being too soon for coverage is also incorrect. Coverage after a heart attack may be available as soon as 3 months after the heart attack depending on his history.
Term insurance is available but he will be highly rated.
You want to find out:
Exact dates of heart attack as it may affect rates if he was 44 vs 45 when heart attack occurred.
What caused the heart attack?
Did he require surgery? bypass, stents, etc?
If yes, what vessels were involved?
When was his last cardiac workup completed and what were the results
- 4,132
"Those comments about MIB are just wrong and should be ignored, and being too soon for coverage is also incorrect. Coverage after a heart attack may be available as soon as 3 months after the heart attack depending on his history"
How is it wrong with the MIB? I've had this happen to me before where the applicant didn't disclose to me the declines. The underwriter came back to me with the info and the info on the applicants open heart surgery.
and what company writes after 3 months from a heart attack? Please share
I'm sure everybody here could use that name of the company that does this.
How is it wrong with the MIB? I've had this happen to me before where the applicant didn't disclose to me the declines. The underwriter came back to me with the info and the info on the applicants open heart surgery.
and what company writes after 3 months from a heart attack? Please share
I'm sure everybody here could use that name of the company that does this.
- 18,980
Tran standard, KSKJ standard, Americo UP2 and Equitable standard are all options for him. All are whole life. KSKJ is gonna be best pricewise.
That's provided there are no other issues not mentioned.
- 717
it doesn't matter that he's been declined twice and it's on MIB...for all we know he could have applied to the state farms, allstates, etc. that would automatically decline him. The company depends on overall medical picture, but I've had success with a number of companies after recent heart attack - Prudential, AmGen, Met, and recently with Principal 3 months post heart attack on a couple of cases...mild heart attack, single vessel stent, favorable post cardiac workups.
Many company impaired guidelines say 6 months before consideration, that's normal, and if you submitted without getting an underwriter on board first it would probably tank. I obtain medical records up front on cases which I realize most agents won't do, but impaired risk is the market I work in and it helps in getting offers from carriers.
Many company impaired guidelines say 6 months before consideration, that's normal, and if you submitted without getting an underwriter on board first it would probably tank. I obtain medical records up front on cases which I realize most agents won't do, but impaired risk is the market I work in and it helps in getting offers from carriers.
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