Heart Disease?

[theTerminator]

Life insurance client.

Smoker. Had bypass surgery 9 years ago.

I write for a big mutual with very strict underwriting.

Which company would be the most likely to take on this risk at a decent rate? I'm thinking Genworth but I really hate that company and would prefer to place it with a more reputable company.

 

[insuranceexec]

Life insurance client.

Smoker. Had bypass surgery 9 years ago.

I write for a big mutual with very strict underwriting.

Which company would be the most likely to take on this risk at a decent rate? I'm thinking Genworth but I really hate that company and would prefer to place it with a more reputable company.

Genworth's UW is very tight!

North American will table shave to standard down to table 4.

West Coast Life has just made their UW more liberal, so maybe that will be a good alternative. I hope this helps.........

 

[dgoldenz]

Life insurance client.

Smoker. Had bypass surgery 9 years ago.

I write for a big mutual with very strict underwriting.

Which company would be the most likely to take on this risk at a decent rate? I'm thinking Genworth but I really hate that company and would prefer to place it with a more reputable company.

I just went through one of these (55 year old, bypass surgery at 48, smoker) and got decline responses from almost every company. Western Reserve made the best offer at a tentative table 8-10 smoker rate, but obviously there are no guarantees. I think Transamerica offered a tentative Table 6 if memory serves correct, but their smoker rates were much higher than Western Reserve. This is going to be the type of case where you need to be licensed with 10-20 different companies so that a brokerage can shop the case with other companies if it comes back declined. You don't want to have your client submitting 10 different apps hoping to finally get an offer.

The premiums won't be cheap, that's for sure. How much coverage is he looking for?

 

[wibroker]

Transam will most likely offer here (assuming good follow-up - stress tests, etc). However, no company is thrilled with a guy with heart disease that continues to smoke. Some companies will auto-decline based on that alone. IMO - your best bets will be Prudential, Transamerica or Banner.
Like the above sauid - make sure you are working with a good BGA who can take care of your client using only 1 exam and 1 set of MD reports for all the carriers you want to shop. There's nothing more frustrating than "starting from scratch" on every app you submit.

 

[SalesIsMyBiz]

Sagicor has the most liberal Table 4 I know of (5 year base of heart issues), but are very new to US market.

 

[theTerminator]

He was declined. Going through reinsurance now, should have an answer in a few days.. If that doesn't pan out I'm going to try Pru.

 

[dgoldenz]

He was declined. Going through reinsurance now, should have an answer in a few days.. If that doesn't pan out I'm going to try Pru.

Surprise. If you have all the medical info now, why not pre-screen it before sending in a formal app?

 

[theTerminator]

Reinsurance came back table 13. The premium is insanely high. Will try Prudential and let you guys know what happens. I'm very surprised to see him get issued.

 

[dgoldenz]

I'm guessing at that rating, the premiums pay the entire death benefit in 6-10 years if he is in his 50's or 60's. You're probably wasting your time if he expects a low premium. He'd be lucky to find someone willing to issue a policy that isn't paying the entire death benefit in premiums in 10-15 years.

 

[HarryRenard]

Sometimes you have to know when to walk away, especialy when the value just isnt there.
Why don't you take the couple hundred $$$'s prem. and EFT into an an annuity on a monthly basis. He can have a nice savings account and you will still get paid "something" for the work you've done.
Like DGOLDENZ saidif he live +10yrs or so he will have paid the death benefit in or close to it, this way it will be in the annuity it wont have the tax benefits BUT it will be there.

Good luck.