Met Life and Diabetes?

Lakshmi

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Can anyone help with how Met Life underwrites diabetics.

I have a client, (58 yr old, non-smoker) who just informed me that Met Life said they would take him, Type 2 diabetic,...controlled now for about 3 years, BUT only with FOUR meds. Also two meds for HBP, also controlled with the meds.

He's at the higher end of weight (can't remember what it is exactly, just remember it was at the higher end of acceptable chart...pushing a decline just on weight).

He's also on a med for depression.

He's telling me that Met Life will take him with a low premium??!!

This can't be true, can it??

I try to stay away from writing diabetic clients. The carriers I have are VERY high even with a non med, well controlled diabetic client, and most end up declining coverage altogether just based on price...I tend to send them to a colleague. BUT, he is a neighbor and a health and accident client--have also sent me 3-4 referrals.

Another tidbit...he's been declined by a few other companies, not sure which ones...he couldn't remember....he tried to do it himself before I knew him.
 
yeah they'll take him. all day long. with their guaranteed issue whole life (only available direct). a $20k graded policy is $135/month. can get up to $50k. not the best deal in the world. $25k with Gerber is $128.
 
Yes Lewis, I figured that with WL, but he's trying to say a $250,000 20 yr term for $150 ish.

I should've added that. Highly unlikely. Think the "happy pills" he takes affect him a little.

ugh.

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Thank you though Lewis, I appreciate your input. :)
 
Yes Lewis, I figured that with WL, but he's trying to say a $250,000 20 yr term for $150 ish.

I should've added that. Highly unlikely. Think the "happy pills" he takes affect him a little.

ugh.

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Thank you though Lewis, I appreciate your input. :)

A number of carriers will take a Type 2 w/ good controls at standard (assuming onset after 50 and a relatively recent, 5yrs in Met's case, diagnosis)...now all of the other factors (4 meds, build, depression etc.) could certainly hurt you.

Met has a decent build chart so maybe that's why he was being quoted there?

There's not really enough info to give any direction, however, that price is much lower than Met and everyone else. Banner is the least expensive at 168/mo with others in the 170s. Met is 191/mo for a male 58 SNT 250k 20yr term.
 
THanks Tahoe...I appreciate all input. While it really won't hurt me, it's his deal, I'm just going to try to direct him. I stay away from that many meds with a diabetic. It could hurt my persistence level even trying...very picky about who I write. Mostly tip top healthy people, with life insurance. The diabetic med people I send elsewhere.

Just trying to get a grip on if he's being honest with me. Despise lying clients who try to brow beat me and tell me they can get better deals elsewhere (I've underwritten him before through a few companies, one of which would have considered him for about $300 a month--but slim chance for acceptance..too slim for me--and he says that's much too high for him), and second, he is a neighbor and client with other products. I have to see him around regularly...just one of those things.

just based on his meds, I'm inclined to think he will never get a standard rating.

I like what you both have said and will direct him to go on ahead and go direct with Met...he can probably get the WL product, with much lower DB than he wants.
 
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Lincoln national has been very aggressive for me.The problem with fully underwritten products is takes 7-10 weeks sometimes to get issued and paid.You can starve waiting for commissions.
 
THanks Tahoe...I appreciate all input. While it really won't hurt me, it's his deal, I'm just going to try to direct him. I stay away from that many meds with a diabetic. It could hurt my persistence level even trying...very picky about who I write. Mostly tip top healthy people, with life insurance. The diabetic med people I send elsewhere.

Just trying to get a grip on if he's being honest with me. Despise lying clients who try to brow beat me and tell me they can get better deals elsewhere (I've underwritten him before through a few companies, one of which would have considered him for about $300 a month--but slim chance for acceptance..too slim for me--and he says that's much too high for him), and second, he is a neighbor and client with other products. I have to see him around regularly...just one of those things.

just based on his meds, I'm inclined to think he will never get a standard rating.

I like what you both have said and will direct him to go on ahead and go direct with Met...he can probably get the WL product, with much lower DB than he wants.

I doubt it is so much him lying to you as it is between him and the Met agent. Odds are he is lying to the agent and the agent is lying to him. Or should I say, just being overly optimistic.

The rate he is giving you is between preferred and standard, for his age with Met, but it standard non-tobacco for a 56 year old. I would say quite a lot is getting lost in translation here.
 
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