Impaired Risk SPIA's

[JoeAnnuity]

Hi,

Does anybody know if there are any companies that have a medically underwritten SPIA product? I called 7 or 8 the other day and none of them are doing it.

Thanks for your help.

 

[scagnt83]

Hi,

Does anybody know if there are any companies that have a medically underwritten SPIA product? I called 7 or 8 the other day and none of them are doing it.

Thanks for your help.

Im not sure why you would want to. One of the advantages of annuities is no medical UW. Im pretty sure that by law they are required to use just mortality tables for SPIAs.

 

[JoeAnnuity]

Im not sure why you would want to. One of the advantages of annuities is no medical UW. Im pretty sure that by law they are required to use just mortality tables for SPIAs.

Because if someone is in poor health they can receive a higher payments. It's like the opposite of life insurance. Symetra did them about 9 months ago and no longer do, and most of the carriers I talked with said they stopped doing it a couple of years ago. Wasn't sure if there was anyone left.

 

[Tahoe Ray]

Statelife/OneAmerica.