How Foreign Travel Affects Life Insurance Premiums in CA

[dondrimexm8]

My wife and I are trying to purchase 20 year term life and are in excellent health. We filled out a form online at one of the cheapest (ING) and were called by an agent representing several companies. The quotes online were quite reasonable, but after providing the data that my wife is from Colombia and we traveled there for a few weeks this past month, and will likely take a two week trip within 3 years or so to visit her family, the quotes jumped dramatically. Apparently several companies no longer wanted anything to do with us, and rates as a whole seem about 1.5 times as expensive for those who do.

We are in California. I had read an article online which claimed that in California and five other states companies were not allowed to take foreign travel into consideration in life insurance underwriting. My experience obtaining quotes the past few days tells me otherwise, but I am hoping that the agent made a mistake.

Can anyone clarify this matter? I have read that in Florida companies cannot ask that information. If that is the case, can we work with an agent in Florida and obtain lower quotes?

Thanks so much for any help.

 

[dgoldenz]

Working with a Florida agent won't change anything since it is based on the state the application is signed in. Columbia is going to be on the foreign travel black list for a lot of companies.

Quotes are meaningless without an offer. You need to find out before applying how each company will look at the foreign travel. Use the help of a good independent broker and they can take care of that for you.

 

[WinoBlues]

OK, I was posting from my cell while trying not to get Caldo de Pollo all over my snazzy new shirt. Let me me retry that post.

You lose nothing using a professional agent. You pay the same as you would entering the info into a website. However, with an agent you are talking to and dealing with a person. A person that can ask questions that are pertinent to your specific needs and situation. With a online form you check a box it may or may not trigger a drop down box that goes deeper into an issue.

Did you submit an application and do the exams or were these just preliminary guesses on their part? That is important. As Goldenz said you can get a real close honest quote without submitting a formal application. If possible, you do not want a decline or rating on the MIB. If it was a submitted application your agent can deal with that.

Find an agent that you feel comfortable with and have him or her shop the case for you. I would strongly suggest using an independent agent as they will have access to many more companies.

There are some well respected agents here. Pick one that is in or at least licensed in CA.

Good luck,

Lee

My wife and I are trying to purchase 20 year term life and are in excellent health. We filled out a form online at one of the cheapest (ING) and were called by an agent representing several companies. The quotes online were quite reasonable, but after providing the data that my wife is from Colombia and we traveled there for a few weeks this past month, and will likely take a two week trip within 3 years or so to visit her family, the quotes jumped dramatically. Apparently several companies no longer wanted anything to do with us, and rates as a whole seem about 1.5 times as expensive for those who do.

We are in California. I had read an article online which claimed that in California and five other states companies were not allowed to take foreign travel into consideration in life insurance underwriting. My experience obtaining quotes the past few days tells me otherwise, but I am hoping that the agent made a mistake.

Can anyone clarify this matter? I have read that in Florida companies cannot ask that information. If that is the case, can we work with an agent in Florida and obtain lower quotes?

Thanks so much for any help.

 

[dondrimexm8]

Thanks so much for the responses.

To clarify, I filled out a brief survery online at the ING site, and then was called by someone who worked at Intelliquote and asked a whole bunch of questions. Our names and addresses were taken, but not our social security numbers and we have not done any medical exams, so I don't know if the information we were given was based on guesses or a real application. The agent told me that she worked with all the big companies and would shop around with our information, but I don't know if she is independent since she got our information from using the ING website. She said that ING would not accept us based on the Colombia part and offered quotes from another company that would.

Does it sound like this was independent agent or should we look for another one?

 

[WinoBlues]

Thanks so much for the responses.

To clarify, I filled out a brief survery online at the ING site, and then was called by someone who worked at Intelliquote and asked a whole bunch of questions. Our names and addresses were taken, but not our social security numbers and we have not done any medical exams, so I don't know if the information we were given was based on guesses or a real application. The agent told me that she worked with all the big companies and would shop around with our information, but I don't know if she is independent since she got our information from using the ING website. She said that ING would not accept us based on the Colombia part and offered quotes from another company that would.

Does it sound like this was independent agent or should we look for another one?

I would question if it was really an ING website or if it just looked like one. Others can tell you if she is just an employee of Intelliquote or if your info was sold to her as a lead. If your info was sold you may be getting calls from other agents that buy you as an aged lead. Again others can speak to that better.

I am a little old fashion. I believe you should have an Insurance agent that you can call, email or text with a question. Does not matter if it is next week or 5 years from now. Your agent answers. He has your file. If your wife calls he has your file. He has talked to you over the years and made adjustments if needed. Some of these big sales sites you get the next clerk that gets the call transferred to them.

Who is the other company that she offered? I would guess she is restricted to the Intelliquote approved companies.

All of that to say this. Work with an agent.

My 2 cents,

Lee

 

[NinjaNic]

I would question if it was really an ING website or if it just looked like one. Others can tell you if she is just an employee of Intelliquote or if your info was sold to her as a lead. If your info was sold you may be getting calls from other agents that buy you as an aged lead. Again others can speak to that better.

I am a little old fashion. I believe you should have an Insurance agent that you can call, email or text with a question. Does not matter if it is next week or 5 years from now. Your agent answers. He has your file. If your wife calls he has your file. He has talked to you over the years and made adjustments if needed. Some of these big sales sites you get the next clerk that gets the call transferred to them.

Who is the other company that she offered? I would guess she is restricted to the Intelliquote approved companies.

All of that to say this. Work with an agent.

My 2 cents,

Lee

it is a affiliate deal that ING and Intelliquote have--it is an ING site. No, they are not independent agents. They are licensed, but they are w2 employees (formerly with intelliquote myself way back when...).

www.ingforlife.com