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is there a limit to how much you can stack for a client?
Stack?!
- Thread starter newtothegames
- Start date
What are we stacking. I have a little trouble sacking firewood more than 6 feet high. It is hard to stack hay higher than you can reach unless you have help. If we are talking insurance policies I think we can do stack whatever the customer can afford and what he companies will issue.
- 2,177
Given the Final Expense forum it's in it seems reasonable to assume the stacking is in reference to final expense insurance policies. Plus, it's summer; too early for wood stacking threads.
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- Thread starter
- #4
- 189
I think the limit to stacking is capped at the ability by the owner or policy holder to pay the premium. In other words, no... that question is not asked on most FE applications. Some do ask how much ins you have and who with and those could be problematic if the numbers were unreasonably out of whack. I think you could easily stack 100K-150K or more if the ability to pay was there and the client could qualify for immed covg. If GI is needed that will limit the avail plans.
- Thread starter
- #6
- 189
THXS for the real info! this client has no insurance right now so im thinking of just applying to more than 1 insurance company all at the same time and see what sticks
More real experience.... Unless the client has a very strong desire for higher face amts than policy limits of one or more companies, I wouldn't just throw a bunch of apps on the wall and see what sticks. Sounds like a prescription for lapses, IMO.
Maybe I am missing the desire of the country here... but they would have to strongly want or need 50K+ for me to apply to two or more cos for covg. Otherwise I would apply to one co first, the most obvious to issue the desired covg, and if they fail to approve then I would move to co B, etc. Obviously I am not privy to what is in the clients mind, hope that you are. Good luck on it.
Does the client have health or morality problems that would preclude him from getting fully underwritten insurance? Even if he is rated, it might well be better than trying to stack a bunch of FE plans and having to pay multiple policy fees. After all, most FE is rated table 4 or higher. Would hate to think this is a case just wanted to use multiple FE plans because it is more convenient or profitable for him.
- Thread starter
- #9
- 189
I would go the fully underwritten route first unless there is a reason that kills it before you start. How much coverage are they seeking?
