Non-Med $1.5m+ policy in NY

[Sam Z]

Hi there,

Can any brokers place a 1.5m or above term life for a couple in their 30s with no medical issues or history in New York? I know the players are limited in NY for non-med policies so wanted to check if there are any brokers who can get competitive offers. Looking to move on this quickly and appreciate your help.

For my own edification, what are the major one who still write non-med for $1m+ in NY? I know William & Penn does but they are not competitive. Tried ANICO but they wanted medical done.

Thanks!

 

[scagnt83]

Hi there,

Can any brokers place a 1.5m or above term life for a couple in their 30s with no medical issues or history in New York? I know the players are limited in NY for non-med policies so wanted to check if there are any brokers who can get competitive offers. Looking to move on this quickly and appreciate your help.

For my own edification, what are the major one who still write non-med for $1m+ in NY? I know William & Penn does but they are not competitive. Tried ANICO but they wanted medical done.

Thanks!

You can get $350k through Assurity on a no-exam basis.

Penn Mutual offers the possibility of no medical exam or APS through their ACE underwriting program. You can get up to $7m with no exam... if they are healthy and the automated UW system finds no potential red flags. Its a fully underwritten policy, so non-med is no guarantee, but there is a chance, according to Penn around 60% that are submitted are approved with no-exam. Mass has a similar program, not sure what the limits on it are. So does Lincoln National. You get results on if an exam is required in 24-48 hours usually. You could apply to 2 of them and see which ones issue without an exam.

Check the UW guidelines for NY carriers, at that age, some will not require an exam if under $100k. So you could try and stack policies to get there.

 

[Tahoe Ray]

I am just curious how William Penn wouldn't be competitive for a healthy couple in their 30s.

They are top 3 in pretty much every cell.

 

[scagnt83]

I am just curious how William Penn wouldn't be competitive for a healthy couple in their 30s.

They are top 3 in pretty much every cell.

Ditto. Plus he spoke of "no exam" policies, and I dont think William Penn has a true no-exam term policy... just the possibility of no-exam like Penn/Mass/AIG/LFG/etc.

OP, thats another one to add to your list, AIG offers the possibility of no exam.