Should I Replace this Policy?

billyb

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Florida
80 year old male has a $25,000 term policy that is costing him over $500 monthly. After the initial guarantee period it became an ART. He got a pacemaker in 2015. Takes a few drugs with the one causing concern being Eliquis. He is not a diabetic. Aetna said they would consider him level at about $360 monthly. I just am afraid if he dies before year 2 I would have been better off leaving it alone.
 
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80 year old male has a $25,000 term policy that is costing him over $500 monthly. After the initial guarantee period it became an ART. He got a pacemaker in 2015. Takes a few drugs with the one causing concern being Eliquis. He is not a diabetic. Aetna said they would consider him level at about $360 monthly. I just am afraid if he dies before year 2 I would have been better off leaving it alone.

It's his decision not yours. What does HE say he wants to do. Provided he understands what he has now and what happens if he lives a long time, does that concern him? Can he afford to keep his going or is he going to need to drop it.

if he is of sound mind and can understand the facts and you didn't distort the explanation, I wouldn't be afraid of either way he decides. Make sure he knows about the contestibility so he discloses everything about his health. F there is any Grey area, get it all out on the recorded interview or noted in the agent report. CYA
 
It's his decision not yours. What does HE say he wants to do. Provided he understands what he has now and what happens if he lives a long time, does that concern him? Can he afford to keep his going or is he going to need to drop it.

if he is of sound mind and can understand the facts and you didn't distort the explanation, I wouldn't be afraid of either way he decides. Make sure he knows about the contestibility so he discloses everything about his health. F there is any Grey area, get it all out on the recorded interview or noted in the agent report. CYA

Newby knows! I like err on the side of caution with replacements but every situation is different and it's not my place to tell other agents how to operate. I would just add to look at where the ART is headed if he lives say another 5 years or so. He may be forced to drop it over affordability anyway (or age out of FE) and then he'll have nothing. I say since he's so old with ART, head this train wreck off at the pass!:yes:
 
80 year old male has a $25,000 term policy that is costing him over $500 monthly. After the initial guarantee period it became an ART. He got a pacemaker in 2015. Takes a few drugs with the one causing concern being Eliquis. He is not a diabetic. Aetna said they would consider him level at about $360 monthly. I just am afraid if he dies before year 2 I would have been better off leaving it alone.

I have one similar. $100,000 term termed out at the end of November. Went from <$400 to >$7,000. She just paid the quarter. She turned down the conversion I offered and now is not convertible. I am quoting her and will include a summary outlining the comparison including contestability. That signed and dated summary will be in the policy packet and of course my file. I will likely have the daughter/bene involved as well. CYA
 
80 year old male has a $25,000 term policy that is costing him over $500 monthly. After the initial guarantee period it became an ART. He got a pacemaker in 2015. Takes a few drugs with the one causing concern being Eliquis. He is not a diabetic. Aetna said they would consider him level at about $360 monthly. I just am afraid if he dies before year 2 I would have been better off leaving it alone.

Not too sure who your upline is, or who at AETNA you spoke to....But Eliquis is now accepted for Modified plans. not immediate coverage. THis is one of drugs they added to the Rx list a few months back. May want to rethink your strategy a bit
 
Not too sure who your upline is, or who at AETNA you spoke to....But Eliquis is now accepted for Modified plans. not immediate coverage. THis is one of drugs they added to the Rx list a few months back. May want to rethink your strategy a bit

That's circulatory w/diabetes. He said the guy doesn't have diabetes, so should be Level.:yes:
 
That's circulatory w/diabetes. He said the guy doesn't have diabetes, so should be Level.:yes:

Are we sure? Had a case knocked down just for taking eliquis. Client didn't have any diabetes either

I argued and was told in writing from Rose (someone high up in underwriting) that Eliquis Is automatic modified. That was when the changes were rolled out.

Maybe someone else can clarify
 
Are we sure? Had a case knocked down just for taking eliquis. Client didn't have any diabetes either

I argued and was told in writing from Rose (someone high up in underwriting) that Eliquis Is automatic modified. That was when the changes were rolled out.

Maybe someone else can clarify

That's what it says in the UW Guide. I've learned that we can never be sure of anything.
 
The person I spoke with at Aetna asked an underwriter about Eliquis. She came back to me stating they would consider the case level.
 

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