Top 3 Final Expense/Guaranteed Issue Carriers

[Mark]

The UHL product is not true GI.

You are right. If you looking for a no questions ask product. You might want to look at Presidential Life. They have no health questions.

Most of the Graded Benefits out there ask some type of questions. Like do you have aids, or are you confined to a hospital bed. But still takes about 90% of the clients out there.

American Amicable also has a good Graded Benefit Plan.

 

[jdeasy]

You are right. If you looking for a no questions ask product. You might want to look at Presidential Life. They have no health questions.

Most of the Graded Benefits out there ask some type of questions. Like do you have aids, or are you confined to a hospital bed. But still takes about 90% of the clients out there.

American Amicable also has a good Graded Benefit Plan.

Presidential cannot be submitted if the person is in a hospital or nursing home.

Nor does Presidential cover ages under 40, which is what was asked about.

Lincoln Heritage has a 3 year modified for people under the age of 40. It's almost GI as it has only two questions; AIDS? and; In a hospital, incarcerated, nursing home?

Answer no to those two questions and it's issued. It's paid up in 15 years. A 25 year old male would pay about $40/mo for a $10,000 policy. It would be paid up when he's 40 years old.

It's not a great deal, but, it's better than nothing.

 

[Mark]

United Home Life goes down to age 25 on their graded benefits.

 

[kwimberl]

These are the questions for Graded Benefit from UHL:

A. Do you currently receive kidney dialysis or require oxygen use or have you received or been told that you need an organ transplant or
have you been diagnosed as having a terminal illness? (Terminal illness is defined as any illness diagnosed that would reasonably be
expected to cause death within twenty-four (24) months.)​

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Yes No
B. Are you currently not able to feed, bathe, dress or take your own medication on a daily basis or are you currently confined to
a hospital, nursing home, mental facility, hospice or require home health care?​

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Yes No
C. Have you ever tested positive for the AIDS virus or been diagnosed or treated, or recommended for treatment for AIDS
(Acquired Immune Deficiency Syndrome), ARC (AIDS Related Complex) or any other immune disorder?​

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Yes No
D. In the past twelve (12) months, have you been hospitalized two or more times, been diagnosed or treated for cancer
(including melanoma and leukemia), heart attack, stroke, or had heart surgery or have you used, been treated for or advised
to have treatment for any drugs of abuse?​

That's straight from the current application. In case anyone wanted to know.

 

[Mark]

Yes, United Home Life has questions. Most Graded Benefit companies ask some type of questions.

I don't expect any company to take a client that has been told that they have 24 months or less to live or if they have aids or one foot in the grave.

The graded benefit plans are still great for the right market. It is not great for the 5% of the clients that would answer yes to any of those questions. The fact is that not everyone can get coverage.

I don't want to write any client that I believe is going to die soon.

Most of the Graded Benefit companies have about the same questions.

For a client that had a heart attact, stroke, or cancer 1 year ago, and wants to get some type of coverage, this is an option for them. This is great for the clients that are off the weight chart. 4'1 and 400 pounds, this product will still take them. If the client has 10 dui's. This is great for him.

This product is not for just any clients, but for the clients that can answer the few questions no, and can not get any other coveage, this is perfect for them.

Mark Rosenthal
[email protected]

 

[kwimberl]

For a client that had a heart attact, stroke, or cancer 1 year ago, and wants to get some type of coverage, this is an option for them. This is great for the clients that are off the weight chart. 4'1 and 400 pounds, this product will still take them. If the client has 10 dui's. This is great for him.

This product is not for just any clients, but for the clients that can answer the few questions no, and can not get any other coveage, this is perfect for them.

Mark Rosenthal
[email protected]

You are right about that! My only beef with the product is this:

"With the GBWL/Express Issue Whole Life plan, there is a 100% commission charge back in the event of the death of the insured during the first 12 months. "

 

[jdeasy]

These are the questions for Graded Benefit from UHL:

A. Do you currently receive kidney dialysis or require oxygen use or have you received or been told that you need an organ transplant or
have you been diagnosed as having a terminal illness? (Terminal illness is defined as any illness diagnosed that would reasonably be
expected to cause death within twenty-four (24) months.)​

Yes No

B. Are you currently not able to feed, bathe, dress or take your own medication on a daily basis or are you currently confined to
a hospital, nursing home, mental facility, hospice or require home health care?
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​

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Yes No

C. Have you ever tested positive for the AIDS virus or been diagnosed or treated, or recommended for treatment for AIDS
(Acquired Immune Deficiency Syndrome), ARC (AIDS Related Complex) or any other immune disorder?
​

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Yes No

D. In the past twelve (12) months, have you been hospitalized two or more times, been diagnosed or treated for cancer
(including melanoma and leukemia), heart attack, stroke, or had heart surgery or have you used, been treated for or advised
to have treatment for any drugs of abuse?​

That's straight from the current application. In case anyone wanted to know. ​

Damn, that's restrictive. Most of the FE companies I have would give immediate benefits to a person that can answer no to all those questions.

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[Mark]

You are right about that! My only beef with the product is this:

"With the GBWL/Express Issue Whole Life plan, there is a 100% commission charge back in the event of the death of the insured during the first 12 months. "

That is almost try with any product or company. If the client dies within the 1 year, most companies take back their commissions from the agent.

 

[jdeasy]

That is almost try with any product or company. If the client dies within the 1 year, most companies take back their commissions from the agent.

Of all the companies I represent, UHL is the only one that does that. Needless to say, I don't write any of their stuff anymore.

 

[Mark]

Of all the companies I represent, UHL is the only one that does that. Needless to say, I don't write any of their stuff anymore.

I had this happen with Americo Life on a death claim that I personally had within the 1st year on their no questions asked product called the Silver Consideration Plan. Presidential life has a 2 year period that you must return your commissions if the clients dies.

What companies do you represent that do not ask for the premiums back if the clients dies within the 1st year? I know of seen several companies ask for their commissions back if the policy is rescended or if death occurs within the first year. This does not come up often, because most agents don't have death claims within the 1st year.

It does not seem like UHL is the company for you. Seems like you think you may have a death claim within the 1st year and have to repay back your commissions and you feel like that they have too many questions on their graded benefit plans. I think the questions helps with the chances that are a high risk of dying within the next year.