Trustage Whole Life Insurance

Dec 13, 2018

  1. shonceman
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    shonceman Guru

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    I just left a client who had a bank draft fail a couple months back. He was going to reinstate, but by the time I got there he had decided it was too expensive for that much insurance. (He's paying $66/mo for 10k LBL standard rate. He was 62 when he took it out, 63 now.) He'd gotten a quote for Trustage 25k @ $107/mo. I checked it out online, and confirmed it was an accurate quote for their whole life. He wouldn't qualify as preferred with LBL, and I've heard the Trustage plan is a little tougher on underwriting. Assuming he answers the health questions truthfully, I don't expect him to qualify for the quoted rate. Anybody know what happens if they can't offer it to him at the quoted rate? Will they come back with a standard or modified quote?

    What else should I know about this policy?
     
  2. Baseball7
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    Baseball7 Guru

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    It’ll probably go GI if not level. But I’ve seen trustage take parkinsons, why is he Standard w LBL.
     
  3. shonceman
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    shonceman Guru

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    I took him on as an orphan lapse. The original policy was written standard, probably for no other reason than he was drafting Direct Express. I don't know whether the Trustage will even take DE, but the quote he got was significantly less than LBL SIMPL Preferred. Later I discovered that I could look at the health questions online without applying, so I had a look. There are a couple he would have to answer yes, such as diabetes with insulin, so if he answers truthfully I think he may be declined.
     
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