Tough case to place...

[Tahoe Ray]

The applicant was arrested for drug possession 8 to 9 years ago.

What drugs and what was the charge?

My major Tern company leaves felonies open for 10 years

I didn't see where he said it was a felony? Also, why use one carrier? Cases like this should be shopped.

A misdemeanor for pot with current use could be standard or better. If he was busted for dealing heroin, it may be a little different.

There really isn't enough info so far but this case is definitely writable at this point.

 

[Todd King]

What drugs and what was the charge?



I didn't see where he said it was a felony? Also, why use one carrier? Cases like this should be shopped.

A misdemeanor for pot with current use could be standard or better. If he was busted for dealing heroin, it may be a little different.

There really isn't enough info so far but this case is definitely writable at this point.

Not sure what drug it was, but the charge was for possession.

 

[Life Hawk]

Not sure what drug it was, but the charge was for possession.

In my estimation and humble opinion... any company that would cover that near standard for even only 1M needs a check up from the neck up. Just me, but I don't bet on lame horses with my own money.

 

[Todd King]

I was just told that the drug was cocaine.

Now....what company should be shoot for? Remember....trying to find a good IUL for this. If that can't be found then we'll look at a GUL, then WL, then term.

 

[Allen Trent]

I was just told that the drug was cocaine.

Now....what company should be shoot for? Remember....trying to find a good IUL for this. If that can't be found then we'll look at a GUL, then WL, then term.

you might have a lot of trouble finding a carrier. I am sure the life expectancy is extremely short in his industry "music artist with prior conviction of cocaine sales/possession & still using marijuana". So many artists in the last few years with similar backgrounds have been killed or OD'd

but doesn't hurt to send out a quick quote to several carrier to see how they come back based on conviction date-type & current usage, etc

 

[Life Hawk]

I was just told that the drug was cocaine.

I'm shaking my head when I saw that, but I what @Allen Trent suggest. I would however suggest a spread across a few carriers and not attempt 3M. That would only shoot up red flags everywhere.

You might want to sit the client down and have a heart to heart with him before you appear to promise something you cannot deliver. That's from some mistakes I've made my self in the past.

 

[pfg1]

I think with the hard drug use on record, he probably will need to wait it out a couple more years with most carriers. Most carriers ask about the past 10yrs.

 

[Todd King]

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.

Can you tell me a few companies that will take MJ use? I think Sagicor will.

 

[Tahoe Ray]

Can you tell me a few companies that will take MJ use? I think Sagicor will.

AIG, Hancock, Pac, ANICO, Lincoln, North American, Securian (those are ones with decent IUL).

Frequency really dictates class. Also, some allow you to test positive while others want you to admit but test negative. Other companies (like Pac) he wouldn't qualify for because of the coke use within 10 years.

If I were in your shoes, I would just quick quote all of the carriers to see who's going to view it most favorably.

PFG may be right about waiting until the 10 years is up.

Good luck.

 

[Life Hawk]

I still remember my first term life decline. Young and dumb. I asked if he was on probation. Yes, from intent to deliver, but would be off probation in 2 weeks. So I marked "Yes" and kept rolling.

That app wasn't on the UW desk for even 1 hot minute.

Lesson learned.