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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?
What else should I know about this policy?