Single Premium WL

[DHK]

If she's trying to save the cash values... then the rating DOESN'T matter. Could be Table M... and as long as the company accepts the 1035 from the old policy to fund the death benefit... you still got the job done.

 

[Dins]

If she's trying to save the cash values... then the rating DOESN'T matter. Could be Table M... and as long as the company accepts the 1035 from the old policy to fund the death benefit... you still got the job done.

I'm not big into FU, I'm mostly a FE guy so excuse me if this sounds dumb. I just want to make sure I'm understanding you correctly. I took what you said as
"Just find a company who won't decline her. The 1035 will make everything else not matter"

Correct?

 

[DHK]

Correct - As long as the focus is preserving the cash values, then the rating that applies to the death benefit won't matter.

 

[Todd King]

I'm not big into FU, I'm mostly a FE guy so excuse me if this sounds dumb. I just want to make sure I'm understanding you correctly. I took what you said as
"Just find a company who won't decline her. The 1035 will make everything else not matter"

Correct?

I don't think anyone has mentioned RNA for this. I'm thinking they just might do day one coverage even though they might rate it just a tick for the ht/wt issue. 239 is their max for a female at 5' 7".

 

[Dins]

I don't think anyone has mentioned RNA for this. I'm thinking they just might do day one coverage even though they might rate it just a tick for the ht/wt issue. 239 is their max for a female at 5' 7".

Nobody has. Thanks! I'll look into them.

 

[JD AgentMan]

This will be a tough case because of her multiple issues. If you end up not being able to get her underwritten with life insurance, then I would look into 1035 exchanging into a fixed indexed annuity. She'd have a floor built in with upside potential on the cash value. The key will be to find a company that offers an enhanced death benefit rider if she wants to ultimately use this for legacy purposes. Just ask your IMO what companies they deal with on FIA and research them. Maybe not exactly what she wants, but better than a dying UL and no coverage at all.

 

[Todd King]

This will be a tough case because of her multiple issues. If you end up not being able to get her underwritten with life insurance, then I would look into 1035 exchanging into a fixed indexed annuity. She'd have a floor built in with upside potential on the cash value. The key will be to find a company that offers an enhanced death benefit rider if she wants to ultimately use this for legacy purposes. Just ask your IMO what companies they deal with on FIA and research them. Maybe not exactly what she wants, but better than a dying UL and no coverage at all.

I do agree with this, but she should still get a small FE policy if nothing else.

 

[goillini52]

I do agree with this, but she should still get a small FE policy if nothing else.

Who will offer 1st day coverage for her when she has MS and is that much too short for her weight that does Single Pay?

 

[Todd King]

I was thinking RNA would, but I was absolutely wrong about that!
For FE she would be graded. They would take the MS for the SPWL, but it would be rated. Of course, add in the ht/wt problem and that is now a decline.

I spoke before I should have.

As for FE companies that will take MS day one, Foresters, Americo (UP3), Trans (standard), Equitable, Great Western (if meds have not changed in 2 years), Loyal American (if over 2 years), Oxford (if no treatment in the last 2 years), Sentinel Security (if not diagnosed before age 25),

However, there is the weight to consider. So that takes it down to Trans, Loyal American or Great Western.

(And no, I'm not promoting Settler's at all).

 

[goillini52]

I was thinking RNA would, but I was absolutely wrong about that!
For FE she would be graded. They would take the MS for the SPWL, but it would be rated. Of course, add in the ht/wt problem and that is now a decline.

I spoke before I should have.

As for FE companies that will take MS day one, Foresters, Americo (UP3), Trans (standard), Equitable, Great Western (if meds have not changed in 2 years), Loyal American (if over 2 years), Oxford (if no treatment in the last 2 years), Sentinel Security (if not diagnosed before age 25),

However, there is the weight to consider. So that takes it down to Trans, Loyal American or Great Western.

(And no, I'm not promoting Settler's at all).

Hahaha, I like the use of parentheses.

One last piece of the puzzle...she wants Single Pay, which is why I suggested the Love Company's Bronze plan earlier, but she insists on 1st day coverage so I guess she's SOL.