Switching a Healthy 31 Yr Old from NYL(RECENT PARAMED)

[jonesmoney]

Hi. I am switching a 31yr old female from a Convertible term policy of 1 mil w/ NYL. She just had a paramed July 2010. I am giving her a 30 term 1mil w/ ROP. Out of the companies that do ROP will anyone NOT MAKE HER DO ANOTHER EXAM. She doesn't mind. I just want faster underwriting if possible. She's healthy the only thing they sited was weight but they still gave her preferred non-tobacco(NYL).

Thanks Guys

 

[WinoBlues]

Hi. I am switching a 31yr old female from a Convertible term policy of 1 mil w/ NYL. She just had a paramed July 2010. I am giving her a 30 term 1mil w/ ROP. Out of the companies that do ROP will anyone NOT MAKE HER DO ANOTHER EXAM. She doesn't mind. I just want faster underwriting if possible. She's healthy the only thing they sited was weight but they still gave her preferred non-tobacco(NYL).

Thanks Guys

>>I am giving her a 30 term 1mil w/ ROP.

Who did you quote her? Is her build going to fit Pref'd in the new company?
Is this just a quote or do you have ink on paper?
Is she going to feel comfortable with you switching companies and premiums on her?

The lowest cost ROP I have for her would be Cinci at $115.PAC. And I know they would not do it.

You can call AIG and Pru.

 

[jonesmoney]

I didn't write the original policy. So yes she is comfortable with me switching her.(She's not comfortable w/ a policy w/ increasing premiums). I quoted several- AIG included. She'll just have to do another Paramed... no problem. I just wanted an expedited underwriting... Thanks for your suggestions

 

[VolAgent]

I didn't write the original policy. So yes she is comfortable with me switching her.(She's not comfortable w/ a policy w/ increasing premiums). I quoted several- AIG included. She'll just have to do another Paramed... no problem. I just wanted an expedited underwriting... Thanks for your suggestions

You said convertible term. Is it a level term policy that is convertible, or an ART?

 

[jonesmoney]

Sorry I didn't include that... my mistake... ART
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But the actual question was is if any company would WAIVE the paramed since she had one so recently.... I'm guessing not.

 

[VolAgent]

Sorry I didn't include that... my mistake... ART
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But the actual question was is if any company would WAIVE the paramed since she had one so recently.... I'm guessing not.

There are a number of companies that use a previous paramed. LFG and MassMutual are two that I know will definitely do it. I believe Met and Pru will as well. The hard part is getting the exam, it belongs to the insurance company, NYL.

 

[LGilmore]

Just do it right. When you're in a hurry to get paid... (she doesn't mind the para) bad things usually happen. Just do it right and get paid when you get paid.

Sorry, the way you've put this sounds bad. I don't care about the replacement aspect, I do care about the speeding it up part. She has coverage now, there's no gap between policies if you do it right, so do it right. You'll get paid.

Realize the NYL agent may call back and when she explains what you're doing, he/she is going to quickly point that out. I would, and I would retain the business or offer an alternative as NYL would conserve the policy. Everything you should be doing in a replacement should not present its self as a questionable move. We get paid last and slow on life products.... just the way it is.

 

[djs]

Let me guess, she put on a few more pounds since July??? Most people do this time of year. If she was borderline before, she'll likely run into problems now.

It is doubtful you could get a copy of the paramed. If you do, it may be more trouble than it is worth. Order a new one, it keeps it clean.

Dan

 

[VolAgent]

Let me guess, she put on a few more pounds since July??? Most people do this time of year. If she was borderline before, she'll likely run into problems now.

It is doubtful you could get a copy of the paramed. If you do, it may be more trouble than it is worth. Order a new one, it keeps it clean.

Dan

His best bet is if an exam company that he uses did it. I exclusively use one nurse. They'll do anything they can for me because I've been loyal.

 

[djs]

Still, the paramed is 6 months old (about). How many carriers will take a paramed this old? Oldest one I ever tried to use was 3 months, so I really don't know the answer to this.....

Dan