Question About a Possible FE Case..

[Chicken Coop]

I have a long term client who called me today about insuring his cousin.

Basically, my client has always looked out for the cousin. The cousin is unemployed and is irresponsible. My client asked me about buying a FE policy to take care of the cousin's final expenses one day. The cousin has no immediate family.

There are no health issues, but there is some marjuana usage on the part of the cousin. According to my client, the cousin has not been treated for drug abuse. From what I gather, the cousin has been homeless at some points.

Opinions on this case? Will it raise all kinds of red flags if we submit the app with my client as owner, payor, and beneficiary?

This is not a case I really wish to handle, but I'm really trying to help out a great client. Of course I will not get involved in anything that would be misleading.

 

[jacobtn]

no it wouldn't raise any flags. the insured will have the sign the app and HIPPA form of course, but the payor owner and benny can be the cousin, no problemo.

 

[TDFnCali]

no it wouldn't raise any flags. the insured will have the sign the app and HIPPA form of course, but the payor owner and benny can be the cousin, no problemo.

That is as long as u DONT go with RNA...they would def have issues with a cousin as the owner!