MVR Issues - Term Life Policy - Help Needed

[californiadude]

Hi All,

I am looking for help on this.

I am writing my first life policy (I am a P/C guy). The insured has about 5 violations (all minor, speeding, cell phone, failure to use blinker) and has a suspended license now.

Do you think I will get declined due to this? The carrier is AXA.

It is a 15 year term policy. Gracias!

EDIT: MVR is pulled because it is a big benefit policy.

 

[tlmarketing]

It looks like you may have some problems with this one...see attached.

 

[lklein99]

Yes, The best carrier for MVR issues is Prudential Life. Normally a Standard table B, and then underwriting will begin to determine
final table rating. Hope this helps. Larry

 

[WinoBlues]

Hi All,

I am looking for help on this.

I am writing my first life policy (I am a P/C guy). The insured has about 5 violations (all minor, speeding, cell phone, failure to use blinker) and has a suspended license now.

Do you think I will get declined due to this? The carrier is AXA.

It is a 15 year term policy. Gracias!

EDIT: MVR is pulled because it is a big benefit policy.

First why would you submit without knowing what the outcome could be?

I have had good MVR issues placed with Protective.

If this is a big enough case and the table ratings will be too high you may want to look at finding a table shave but that will probably have to be a permanent policy.

 

[californiadude]

First why would you submit without knowing what the outcome could be?

I have had good MVR issues placed with Protective.

If this is a big enough case and the table ratings will be too high you may want to look at finding a table shave but that will probably have to be a permanent policy.

We have not submitted yet... We are working with our GA to find a home. EDIT: AXA looked the most attractive on rating alone, so we will out their apps first.

It's a 15 year term with a $10,000,000 benefit, so I am not sure who will want it with a nasty MVR.

Thank you all for the help.

 

[WinoBlues]

We have not submitted yet... We are working with our GA to find a home. EDIT: AXA looked the most attractive on rating alone, so we will out their apps first.

It's a 15 year term with a $10,000,000 benefit, so I am not sure who will want it with a nasty MVR.

Thank you all for the help.

I would be surprised if there are not companies that will do that one. Get evals from the different companies before you submit.

Not sure how he got suspended for those though. sounds like there may be more to it. How fast was the speeding?

Nice first case.

 

[californiadude]

Failure to appear... Twice!

Bad boys, bad boys!

 

[175Contract]

$10,000,000 death benefit, and isn't responsable either financially or otherwise to keep his license from being suspended. The financial underwriting on this sounds like a nightmare.

 

[WinoBlues]

Failure to appear... Twice!

Bad boys, bad boys!

You say your GA is shopping it? I hope they are getting numbers based on all the hard facts with a solid offer from an underwriter. Not just a gut feeling or a maybe quote. Better to do a little up front underwriting than to deal with a couple declines.

Contract brings up a good point, do you know what his true income is and the need?

 

[TwiLight]

Automatic decline on almost every carrier with a suspended license.

First. Failure to appear suspensions are nothing and the client just needs to pay the piper, unless one was a driving while suspended. Then a lawyer is needed.

Moving violations for Seatbealt, blinker, cell phone are all bush league and underwriters would look at excluding those for a standard rating.

Your issue is the suspension. It goes to responsibility and if that is not taken care of, no insurance company will seriously consider a $10 Mill policy.

Slap your client in the head and tell him to get over it and get this handled.
.