Unable to Write ROP Policies Over 75 in Missouri? Need Some Suggestions

[iamnewtothis]

I was just doing a little preparation work for appointments tomorrow and I noticed that for American Amicable in Missouri, I am unable to write a return of premium policy (rop on account of combination of stroke and type II insulin diabetes), on anyone over the age of 75. The lady is exactly 85 and has been on insulin for 9 years and she had a stroke 5 years ago. My question is, are there any companies out there that I would be able to use to cover this lady? Any suggestions will help, thank you!

Also, I ran into a 77 year old man who 5 years ago had an open heart surgery, has type II diabetes and is on insulin, amputated left leg due to the diabetes and even had some work done on his right leg, and is in a wheel chair... is this a lost cause? I think I know the answer but you never know, I figure I'd ask anyway. Thanks!

 

[djs]

Okay, I need to learn a bit here....
Why would you want an ROP policy on an 85 year old? Or more specifically, why would an 85 year old want an ROP policy?

You might think I'm kidding, but I really don't know the answer to this question.

Dan

P.S. I don't sell FE, so it could be this is different than I'm thinking as on a regular term policy.

 

[iamnewtothis]

Well, it would be the only option as far as American Amicable is concerned IF they would allow me to write one over the age of 75. Had I been able to write her, she would have to stay alive for another 2 years for the full death benefit to kick in. I guess its better than having no insurance, no options, and nothing for her family to fall back on once the time comes. If she does not survive 2 more years, her family still does receive the premiums she did pay + 10% interest. So I don't think it's a total waste and there's always a chance she could live well past that 2 year mark and be fully covered.

Ahh yes I didn't catch that you were familiar with term, ROP is different for final expense. The difference between the two is mainly that the potential insured is paying a premium in hopes of surviving the 2 waiting period till the full benefits kick in as opposed to the case of a death within 2 years of taking out the policy where their beneficiary only receives the total of premiums paid + 10% interest..

 

[Newby]

Well, it would be the only option as far as American Amicable is concerned IF they would allow me to write one over the age of 75. Had I been able to write her, she would have to stay alive for another 2 years for the full death benefit to kick in. I guess its better than having no insurance, no options, and nothing for her family to fall back on once the time comes. If she does not survive 2 more years, her family still does receive the premiums she did pay + 10% interest. So I don't think it's a total waste and there's always a chance she could live well past that 2 year mark and be fully covered.

Ahh yes I didn't catch that you were familiar with term, ROP is different for final expense. The difference between the two is mainly that the potential insured is paying a premium in hopes of surviving the 2 waiting period till the full benefits kick in as opposed to the case of a death within 2 years of taking out the policy where their beneficiary only receives the total of premiums paid + 10% interest..

You need a trainer/manager. The first case can get prefered rates with 1st day full coverage with MANY companies.

The 2nd could only get a funeral Preneed but needs to do it quickly as time is almost up for them at 86 they can no longer get a monthly payment Preneed.

 

[Iwillpay]

I was just doing a little preparation work for appointments tomorrow and I noticed that for American Amicable in Missouri, I am unable to write a return of premium policy (rop on account of combination of stroke and type II insulin diabetes), on anyone over the age of 75. The lady is exactly 85 and has been on insulin for 9 years and she had a stroke 5 years ago. My question is, are there any companies out there that I would be able to use to cover this lady? Any suggestions will help, thank you!

Also, I ran into a 77 year old man who 5 years ago had an open heart surgery, has type II diabetes and is on insulin, amputated left leg due to the diabetes and even had some work done on his right leg, and is in a wheel chair... is this a lost cause? I think I know the answer but you never know, I figure I'd ask anyway. Thanks!

The 77 year old man could probably get with Vantis or Presidential Life. Not sure about the 85 year old

 

[Newby]

You need a trainer/manager. The first case can get prefered rates with 1st day full coverage with MANY companies.

The 2nd could only get a funeral Preneed but needs to do it quickly as time is almost up for them at 86 they can no longer get a monthly payment Preneed.

I turned the ages around in my mind. The 77-year old has many options with GI companies as well as the Preneed.

 

[jdeasy]

I turned the ages around in my mind. The 77-year old has many options with GI companies as well as the Preneed.

I agree. The first one can get 1st day coverage with many companies. The second one could get ROP with many companies. Even the non GI ones.

 

[iamnewtothis]

My god, my manager is just so sub-par. The guy hardly helped me or answered any of my questions. He has absolutely no advice for the 85 year old lady. He basically said to me to go figure it out myself. I really don't know how to handle this one. Does anyone out there know what company (other than Monumental because I can't contract with them just yet) that I can use to cover this lady?

 

[jdeasy]

My god, my manager is just so sub-par. The guy hardly helped me or answered any of my questions. He has absolutely no advice for the 85 year old lady. He basically said to me to go figure it out myself. I really don't know how to handle this one. Does anyone out there know what company (other than Monumental because I can't contract with them just yet) that I can use to cover this lady?

Why not just write her immeidate with AmAm? If not them then use RNA, Foresters, possibly Americo, also possibly AmCon depending on how many unit of insulin per day. Lot of options for her.

 

[iamnewtothis]

Can't write immediate on her, she doesn't qualify because she had a combination of stroke and diabetes. At least I thought that yes to question 4 disqualifies her from immediate and allows only for ROP. Problem is like I was saying in the 1st post, ROP in Missouri does not go past 75 for AmAm.