Monumental Smoker Rates

[WinoBlues]

I doubt you would do that just because he was a smoker. That is what puppy asked.

I tend to look in this order, Traditional, SI, Graded, GI. I of course adjust based on the client. If I am quoting GI I may offer GI and Graded. But they have to sign off on it. If there I have the bene sign off also.

Lee

Reminds me of a question I've been meaning to ask you guys. If someone is a smoker why bother putting them with Monumental, Americo, Forethought, or any number of carriers when you have guaranteed issue rates that are usually cheaper?

Looking at just Vantis a 10k face for 65f is $54.07. With that you get ROP if death occurs within 2 years, but full benefit if the death is accidental.

But the other plus is it's guaranteed issue so you don't have to ask the client any health questions and they wouldn't have to do a phone interview OR get potentially turned down for some other health reason that will come up during the process.

Other than I suppose the commission being better with the *normal* carriers and worth the potential hassle is there any other benefit?

I agree. I'm looking at Vantis now for a guy with all kinds of mental problems, i.e. bi-polar, etc, and he's not as crazy as his meds may indicate, (old Army buddy) but I'm probably graded at best with most and those prices are higher than Vantis at 20K. He's 53 and smokes like a chimney and had prostate cancer surgery 12 years ago (cancer gone).

 

[pcbinsurance]

I'm going to send him to Monumental for 25K and if he's declined I'll use Vantis for 20K.

 

[WinoBlues]

I'm going to send him to Monumental for 25K and if he's declined I'll use Vantis for 20K.

I see your point with that client.

 

[jdeasy]

Reminds me of a question I've been meaning to ask you guys. If someone is a smoker why bother putting them with Monumental, Americo, Forethought, or any number of carriers when you have guaranteed issue rates that are usually cheaper?

Looking at just Vantis a 10k face for 65f is $54.07. With that you get ROP if death occurs within 2 years, but full benefit if the death is accidental.

But the other plus is it's guaranteed issue so you don't have to ask the client any health questions and they wouldn't have to do a phone interview OR get potentially turned down for some other health reason that will come up during the process.

Other than I suppose the commission being better with the *normal* carriers and worth the potential hassle is there any other benefit?

Are you serious?

 

[slushpuppyking]

Well I only ask because I don't do guaranteed issue and know very little about it. I just saw the rates were much better than I assumed they would be. Sometimes a client seems like they qualify with one company than as I progress through the application or they get on the phone underwriting determines they aren't approved at all.

I guess that's when you pull GI out of your hat but it seems like the client might be frustrated at that point and not continue. Can't help but wonder why I didn't pull out GI from the start.

 

[jdeasy]

Well I only ask because I don't do guaranteed issue and know very little about it. I just saw the rates were much better than I assumed they would be. Sometimes a client seems like they qualify with one company than as I progress through the application or they get on the phone underwriting determines they aren't approved at all.

I guess that's when you pull GI out of your hat but it seems like the client might be frustrated at that point and not continue. Can't help but wonder why I didn't pull out GI from the start.

Because GI is a two year wait. Why would you go to that instead of immediate coverage?

 

[WinoBlues]

Normally if you go from SI to decline it is the client that "forgot" something. At that point Graded or GI is you coming up a solution to their problem. They should be thanking you at that point. You are their adviser not a salesman.

Well I only ask because I don't do guaranteed issue and know very little about it. I just saw the rates were much better than I assumed they would be. Sometimes a client seems like they qualify with one company than as I progress through the application or they get on the phone underwriting determines they aren't approved at all.

I guess that's when you pull GI out of your hat but it seems like the client might be frustrated at that point and not continue. Can't help but wonder why I didn't pull out GI from the start.

 

[TPAAgent]

Americo gives NS rates on chewing and cigars