Lafayette Life

[Russ]

I've never, ever, seen a company take so long to either issue, postpone or reject a life insurance application.

One case required a paramed exam....it took them six days to decide after they had all of the information.

Another case I've got pending now is a $5,000 graded whole-life policy where the phone interview was done when I took the application. They've had the application and the phone interview results for four days.

I've had marriages that didn't last this long.

Good company...good rates on final-expense, but snails move faster....

Also, I've been writing life policies with MoO since Shenandoah went under. Their average time to decide once they have all of the information is between 1-2 days.
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"""This policy is still with the underwriter. Unfortunately or very fortunately depending on how you look at it we have been hit with a large amount of New Business. Bear with us we will get approvals as quickly as we can."""......


That was Lafayette's response to me.

 

[magagent]

MOO is only taking 1-2 days once they have all information they need, well that is the first piece of good news that you have with the Mutual of Omaha companies. I have never used LL for paramed cases, only final expense and my f.e. apps with LL take no more than a maximum of five days, usually more like 72 hours...

 

[Russ]

MOO is only taking 1-2 days once they have all information they need, well that is the first piece of good news that you have with the Mutual of Omaha companies. I have never used LL for paramed cases, only final expense and my f.e. apps with LL take no more than a maximum of five days, usually more like 72 hours...

LL is just swamped under with business. I don't use LL for paramed business anymore either. I'll submit term-life express w/MoO where no paramed is needed.

EDITS>>> Case was issued this afternoon. Patience is a virtue...something I'm not blessed with.

 

[allhealthandlife]

I've never, ever, seen a company take so long to either issue, postpone or reject a life insurance application.

One case required a paramed exam....it took them six days to decide after they had all of the information.

Another case I've got pending now is a $5,000 graded whole-life policy where the phone interview was done when I took the application. They've had the application and the phone interview results for four days.

I've had marriages that didn't last this long.

Good company...good rates on final-expense, but snails move faster....

Also, I've been writing life policies with MoO since Shenandoah went under. Their average time to decide once they have all of the information is between 1-2 days.
- - - - - - - - - - - - - - - - - -
"""This policy is still with the underwriter. Unfortunately or very fortunately depending on how you look at it we have been hit with a large amount of New Business. Bear with us we will get approvals as quickly as we can."""......


That was Lafayette's response to me.

What lafayette doesn't tell you is that their simple issue FE is not really simple issue.The phone interview ask many more questions than on application and and opens applicants to volunteer damaging information because it's not just yes and no responses.

On the flip side because it is more subjective I have been suprised on a couple of cases they approved for heart related issue that would have been an automatic decline on what would be considered easier underwriting FE companies such as Monumental.

Lafeyette is a good back up to Oxford when trying to get the best rate for your client , have a plus rating and they go up to 50,000

 

[Russ]

What lafayette doesn't tell you is that their simple issue FE is not really simple issue.The phone interview ask many more questions than on application and and opens applicants to volunteer damaging information because it's not just yes and no responses.

On the flip side because it is more subjective I have been suprised on a couple of cases they approved for heart related issue that would have been an automatic decline on what would be considered easier underwriting FE companies such as Monumental.

Lafeyette is a good back up to Oxford when trying to get the best rate for your client , have a plus rating and they go up to 50,000

Yes, they do ask many more questions in the phone interview. I wrote one a couple of days ago and the PI took about 15 minutes. Asking the applicant questions about how many children did she have and why was one of them deceased.

I had a graded case I wrote about a year ago and it took about 30 minutes to complete the PI. I had the application completed and double-checked it, just waiting for the PI to be finished.

One other thing about Lafayette Life. The case I started this thread over, the applicant paid quarterly. Lafayette Life will advance 9 months on a quarterly mode.