Tough case to place...

[pfg1]

Whats the hangup Todd? Felony arrest? Habitual user on medical record? Something else?

From what I've seen (and I'm no weed expert) recreational use is just like tobacco with most companies. I have a potential similar case (term) that after discussions with a couple companies I feel its likely a std tobacco case. My guy was 22 or 23 and a punk. Dealing MJ and got arrested, but the official charges on record got reduced down to possession. This was about 7-8yrs ago. Still uses now occasionally, and is a smoker also. He's also got a good job, married with kids and 30 now.

Also, I may be wrong, but my guess is that $2500/mo max funded design will probably buy about half that initial amount of DB you said he wants, unless you go level DB which is obviously less efficient. Why the $3m?

 

[myinsurebiz]

Since when did SL sell policies in $3,000,000.00 face amounts?

Tom's been puffin' on a big fat doobie.

Humor?

 

[goillini52]

Humor?

No...

 

[rousemark]

Humor?

NO

 

[Tahoe Ray]

Pot use is nothing now...several carriers will go non-smoker assuming it isn't daily use.

As pfg1 said, what's the arrest for? That's your only issue.

Also, the premium/face is no where near optimal for max funding. If he needs 3m in coverage, a term/iul mix may work out better.

 

[WinoBlues]

Arrested for? Felony? and when was he free from jail and probation?

 

[myinsurebiz]

No...

NO

Y'all just to old to have fun

 

[goillini52]

Y'all just to old to have fun

No, I'll always be a kid at heart.

 

[Todd King]

For those that asked: The applicant was arrested for drug possession 8 to 9 years ago.
He has 4 kids and wants leave the money for them. He’s a music artist and owns a lot of real estate properties.

 

[Life Hawk]

For those that asked: The applicant was arrested for drug possession 8 to 9 years ago.
He has 4 kids and wants leave the money for them. He’s a music artist and owns a lot of real estate properties.

Not so bad then. He should be able to be placed, but I can't imagine going unrated. My major Tern company leaves felonies open for 10 years. The amount requested makes for sense now if he had properties. This makes the financial review seem more appropriate to the insurance company. You need a good reason for 3 million.