What Companies To Avoid 2 Year Wait?

[FreeAgent007]

Right now I'm contracted with 4 different carriers: Mutual of Omaha, AIG/Corebridge, Prosperity and Senior Life.

I use insurance toolkits and notice that for most diseases/conditions that trigger a 2-year contestibility type of plan - it triggers it across all the different carriers that I sell. For probably 90% or more of the conditions I've run into, it triggers 2 year wait for all carriers.

How do you offset this to find a carrier without a 2 year wait? Are there certain carriers you know reliably are more permissive than most carriers? I figured the carriers I have represent a pretty good spread of probably "typical" approval standards. Are there carriers that stand out that you use that are kind of different and more permissive?

 

[goillini52]

Right now I'm contracted with 4 different carriers: Mutual of Omaha, AIG/Corebridge, Prosperity and Senior Life.

I use insurance toolkits and notice that for most diseases/conditions that trigger a 2-year contestibility type of plan - it triggers it across all the different carriers that I sell. For probably 90% or more of the conditions I've run into, it triggers 2 year wait for all carriers.

How do you offset this to find a carrier without a 2 year wait? Are there certain carriers you know reliably are more permissive than most carriers? I figured the carriers I have represent a pretty good spread of probably "typical" approval standards. Are there carriers that stand out that you use that are kind of different and more permissive?

Customize your carriers on Toolkit. Mark them all, and you'll find out if any will go Level.

 

[jdeasy]

Right now I'm contracted with 4 different carriers: Mutual of Omaha, AIG/Corebridge, Prosperity and Senior Life.

I use insurance toolkits and notice that for most diseases/conditions that trigger a 2-year contestibility type of plan - it triggers it across all the different carriers that I sell. For probably 90% or more of the conditions I've run into, it triggers 2 year wait for all carriers.

How do you offset this to find a carrier without a 2 year wait? Are there certain carriers you know reliably are more permissive than most carriers? I figured the carriers I have represent a pretty good spread of probably "typical" approval standards. Are there carriers that stand out that you use that are kind of different and more permissive?

yes

 

[adjusterjack]

How do you offset this to find a carrier without a 2 year wait?

You don't.

I'm astounded that somebody so clueless is allowed to sell life insurance.

The constability provision appears in all life insurance policies issued by all life insurance companies. There may be some exceptions but they wouldn't apply to you.

Read the links in the following search results:

contestability clause at DuckDuckGo

 

[jdeasy]

You don't.

I'm astounded that somebody so clueless is allowed to sell life insurance.

The constability provision appears in all life insurance policies issued by all life insurance companies. There may be some exceptions but they wouldn't apply to you.

Read the links in the following search results:

contestability clause at DuckDuckGo

I don’t think that was the question.

 

[shonceman]

You don't.

I'm astounded that somebody so clueless is allowed to sell life insurance.

The constability provision appears in all life insurance policies issued by all life insurance companies. There may be some exceptions but they wouldn't apply to you.

Read the links in the following search results:

contestability clause at DuckDuckGo

He’s not talking about the contestability period. He’s talking about guaranteed issue type policies that don’t pay full benefit if death occurs in the first two years. I’m 110% positive you know about those, you just McConnelled on it!

 

[shonceman]

Right now I'm contracted with 4 different carriers: Mutual of Omaha, AIG/Corebridge, Prosperity and Senior Life.

I use insurance toolkits and notice that for most diseases/conditions that trigger a 2-year contestibility type of plan - it triggers it across all the different carriers that I sell. For probably 90% or more of the conditions I've run into, it triggers 2 year wait for all carriers.

How do you offset this to find a carrier without a 2 year wait? Are there certain carriers you know reliably are more permissive than most carriers? I figured the carriers I have represent a pretty good spread of probably "typical" approval standards. Are there carriers that stand out that you use that are kind of different and more permissive?

Those four are enough for now, although as an independent, I’d probably have somebody like Great Western instead of SL. Once you’ve gotten familiar with those, then stretch out and take on more. (Having said that, the older I get, the more I like the simplicity of dealing with just a few carriers.) For difficult cases, I use a regional carrier here in Texas who writes Simplified Issue whole life, and will issue some cases on a rated basis without a graded period. Maybe there’s a carrier like that where you are?

 

[jdeasy]

To the OP. You should rarely write GI.

There’s enough companies to offer level coverage or true graded that ROP should be very rare.

I write maybe 2 or 3 ROP plans a year. And I’ve never written less than 300 applications in a year.

You need more companies, more training or both.

 

[Telesales314]

Right now I'm contracted with 4 different carriers: Mutual of Omaha, AIG/Corebridge, Prosperity and Senior Life.

I use insurance toolkits and notice that for most diseases/conditions that trigger a 2-year contestibility type of plan - it triggers it across all the different carriers that I sell. For probably 90% or more of the conditions I've run into, it triggers 2 year wait for all carriers.

It sounds like your 4 carriers have a ton of overlap, and not many differences between each other, underwriting-wise

Ideally you want to have carriers that work in sync and cover each others weaknesses.

If the short-term problem you are trying to solve is 'I want to avoid waiting periods as much as possible', I don't necessary think you need more companies to do that, just DIFFERENT companies that work together.
1. Your main company
2. Company with lots of niches (CICA takes almost all non-GI ailments as level)
3. Price buster
4. GI or near-GI graded like GTL

With CICA as your #2, about 90% of clients should get Day 1 coverage.

 

[jdeasy]

It sounds like your 4 carriers have a ton of overlap, and not many differences between each other, underwriting-wise

Ideally you want to have carriers that work in sync and cover each others weaknesses.

If the short-term problem you are trying to solve is 'I want to avoid waiting periods as much as possible', I don't necessary think you need more companies to do that, just DIFFERENT companies that work together.
1. Your main company
2. Company with lots of niches (CICA takes almost all non-GI ailments as level)
3. Price buster
4. GI or near-GI graded like GTL

With CICA as your #2, about 90% of clients should get Day 1 coverage.

What is a price buster?