Royal Neighbor U/W

[jdeasy]

I am not sure what you're referring to. Her policy was not graded it was preferred, with no waiting period, Full coverage from day one, non-tobacco.

Her existing policy is clearly fraudulent. My understanding is there is no statute of limitations when fraud is involved. Whether the company would fight it after 2 years or not is up for debate. The fact it was approved non-tobacco, on its own, could nullify the policy.

Her policy with RN should never have been issued. It should have been a turn down. In Michigan I run into this all the time. Usually with Banker's Life , TRUE Stage, AARP or LH etc.

It cannot be contested after 2 years. No matter the reason. It would pay.

You are also correct that fraud never expires. The company could go after the beneficiary in court to recover the monies if they feel there was provable fraud.

Unlikely on FE sized policies. But it is an option they have.

 

[goillini52]

No need to worry, I replaced it!

Who'd you go with? Level or Graded?

 

[DonP]

NFL what did you replace it with ? You sold her a graded policy I'm sure . Jd you are incorrect . There's no contesting after 2 yrs for any lieing on the app period . Outside a murder from the beneficiary or it wasn't the person who died the claims being paid . After 2 yrs the claim will be paid within a week wether it's $10k or $2 million . They can pull no health records . I've seen at least 75 claims paid in my life and any over 2 yrs it's automatic.

 

[noah]

Who'd you go with? Level or Graded?

COPD and insulin before age 30 is Graded.

GTL

 

[noah]

I hear that's a bad thing.

In Kentucky does the DOI have any restrictions on the amount of replacements an agent can write?

 

[DonP]

In Kentucky does the DOI have any restrictions on the amount of replacements an agent can write?

Several CO's like family benefit don't allow replacement their . That's a shit ton of liability if you can't contest replaced policys over 2 yrs old

 

[jdeasy]

NFL what did you replace it with ? You sold her a graded policy I'm sure . Jd you are incorrect . There's no contesting after 2 yrs for any lieing on the app period . Outside a murder from the beneficiary or it wasn't the person who died the claims being paid . After 2 yrs the claim will be paid within a week wether it's $10k or $2 million . They can pull no health records . I've seen at least 75 claims paid in my life and any over 2 yrs it's automatic.

How am I incorrect? I said the same thing you did. It cannot be contested.

You want to argue with me so much that you even argue when I say what you said.

 

[jdeasy]

Several CO's like family benefit don't allow replacement their . That's a shit ton of liability if you can't contest replaced policys over 2 yrs old

Not several. There's a few bottom of the barrel companies that don't allow replacements in Ky and Kansas.


And what's the liability, doing your underwriting up front instead of at death? What a concept!!

 

[jdeasy]

In Kentucky does the DOI have any restrictions on the amount of replacements an agent can write?

Why would they have?

But you don't read responses anyway.

 

[DonP]

How am I incorrect? I said the same thing you did. It cannot be contested.

You want to argue with me so much that you even argue when I say what you said.

You said they can go after the beneficiary for fraud . What type fraud by the beneficiary are you referring to ?