NonMedical Life Insurance

[TimLett]

As long as the agent knows when to use non-med and when to take the client through underwriting, everything will be fine. The trouble comes when the naa-zombies walk into the field under the hell-fire-and-brimstone training that non-med is the best option for every new mortgage holder. That, my friends, is nothing but sheer ignorance. Take someone who is overweight and has maybe one other mild impairment that would cause a rating...non-med could be the right choice. But, always do your due diligence for the good of the client and call or email an underwriter for a proper risk assessment. I carry a few good non-med products and use them from time to time when its best for the client. However, since leaving naa, they are not the only bullets in my gun.

 

[tryan326]

I think Bob suffered from a case of "Fridays". LOL. Happens to the best of us.

As I understand the issue of this thread, non-medical life insurance is issued without medical underwriting on a GI basis at I believe a higher than normal average pricing (table D/4 or something like that)?

If so, then it could make sense for certain prospects who have health issues that would drive them into the table ratings anyway.

For reasonably healthy people, I would think a fully underwritten life insurance with the possibility of getting a preferred or standard rating would be more beneficial.

I would think that to be really good at non-med life an agent would need to be well-versed in the underwriting and probable decision levels of the carriers he/she represents to make the best decision.

I believe he's speaking of Non Medical Life and what your refering to is Simplified Issue or Garanteed Issue.

NonMed is for mostly healthly individuals that have mild or no health issues and a good driving record. These plans usually have the same pricing as a fully underwritten product. Companies still check MIB on NonMed products

On Simplified or Garaunteed Issue. There a little to no health questions and the plans have much higher premiums. Some have no MIB checks.

I personally like NonMed b/c I don't have to worry about ordering parameds and I write it whenever I can. I'll write GI only if someone won't qualify for a fully underwriten product. I've only writen 3 GI in 3 years... not my target market.

 

[Winter_123]

NonMed is for mostly healthly individuals that have mild or no health issues and a good driving record. These plans usually have the same pricing as a fully underwritten product.

Who frinstance has a non-med that is priced the same as an underwritten product? I mean the same as a competitive underwritten product like West Coast, Genworth, AIG etc. Not compared to State Farm or something like that.

Winter

 

[somarco]

I happen to know that #2 was using his laptop while consuming his 4th martini and stuffing $5 in some young things garter belt . . .

 

[Houston1969]

Wow...thanks for the great responses. The reason for my inquiry is that I have Fidelity and GTL contracts but I have not had a lot of success with these 2 companies. I just got signed up with another company and I really like their format. I was skeptical at first but so far in a months time, I have bound 6 applications avg policy $550. Not alot but what I am amazed about is that people that I spoken to didnt really care about the price...they just didnt want to go through the hassle of the medical exam.

 

[STIBROKER]

I am amazed about is that people that I spoken to didnt really care about the price...they just didnt want to go through the hassle of the medical exam.

yea rightttttt......

 

[somarco]

didnt want to go through the hassle of the medical exam

I had a guy like that a few weeks ago. Looking for $500k 20 yr term.

Non-med rate was $1600.

Med rate was $350.

He decided to go through the exam even though he hates needles . . .

 

[SportsNut]

Female

5 ft. 3 inches

350 lbs.

Not on Medicaid.

Does Medical Billing and Coding from home.

Does not have access to a group plan with the organization she is with.

Realizes that there is no cap, but wants a little help with paying for meds and doctor visits.

You help her. And, before you tell her to get a part time job, and get their benefits, keep in mind, it's difficult for someone to get part time, as well as full time, work. Run a Job Seekers meeting and you'll see.

Your option would be...

A DIET!!!!

 

[Mark]

It usually cost more for the client to buy a non-med policy. If they client is willing to do a med, he could save some money and maybe even get a preferred rate instead of standard non med rate.

 

[gudhealth]

A DIET!!!!

L M A O!