Prostate Cancer - Colonial Penn?

[Vanbret]

Hey guys and gals,

Had a case recently with a client who wanted some life insurance (50,000-100,000 policy amount range). 52 years old. Diagnosed with Prostate Cancer about 4 1/2 years ago with a gleason score of 6.

I checked multiple IMO's and was told that he was uninsurable (except for graded FE). I even checked out UHL and Fidelity's term products, and they were a no go.

I was called by the client's wife today and was told they got a term policy for him through Colonial Penn.

So my 2 questions for you guys are:

1. Is anyone familiar with this colonial penn product? Is a a decent policy? And if so, should I consider picking them up as a carrier for future cases like this? (so I don't miss another sale!)

2. Are there any other carriers who might offer coverage in this situation that would be better than Colonial so I could still maybe save the sale?

I should have jumped on this forum to ask you guys about this a few weeks ago! Just didn't think about it....lol.

Thanks!

 

[NinjaNic]

Is he currently being treated? That diagnosis is far enough ago that they should have got it under control, removed the prostate etc. to get a traditional offer. Gleason of 6 is great---as long as he is 2 years post treatment with a PSA less than 1 then you should be good to go.

If not, Presidential Life...anyone here can get you a contract (me included).

Nic

 

[jdeasy]

Hey guys and gals,

Had a case recently with a client who wanted some life insurance (50,000-100,000 policy amount range). 52 years old. Diagnosed with Prostate Cancer about 4 1/2 years ago with a gleason score of 6.

I checked multiple IMO's and was told that he was uninsurable (except for graded FE). I even checked out UHL and Fidelity's term products, and they were a no go.

I was called by the client's wife today and was told they got a term policy for him through Colonial Penn.

So my 2 questions for you guys are:

1. Is anyone familiar with this colonial penn product? Is a a decent policy? And if so, should I consider picking them up as a carrier for future cases like this? (so I don't miss another sale!)

2. Are there any other carriers who might offer coverage in this situation that would be better than Colonial so I could still maybe save the sale?

I should have jumped on this forum to ask you guys about this a few weeks ago! Just didn't think about it....lol.

Thanks!

Seems you got bad advice from your upline. Many companies and almost all FE companies would have given him level coverage.

The real issue would be if he is receiving continuing treatment for the cancer.

I'm sure the CP is a two year ROP. He could certainly get a better rate on a two year ROP if he has to have that.

 

[dlinstrom]

The crucial bit you didn't provide is whether he had been treated and what his PSA level is at. I assume, since he received coverage that his PSA was less than 1 and he had been treated a few years ago. If those facts are accurate, you can typically get coverage albeit with a huge flat extra. The best rates for these typs of cases are with the LifeAgain program that issues cases from Symetra. You don't have to be contracted with Symetra in order to submit an application under the program, you can get contracted after.

 

[moonlightandmargaritas]

I suspect not-so-well disguised spam for "LifeAgain" - posting to a two year old thread. More to come?