What GI Final Expense Products Are Out There?

[GoCubsGo]

Agent guide on their website as of today has not changed. Where are you seeing that new guide?

They got me. Looked at it while on the phone. It's actually their consumer brochure. Received an email with this in the subject line: True Guaranteed Issue WL for UHL/UFF! and a link to the brochure. Thought they changed their requirements and can now call it a "TRUE" GI. Not really true is it?

 

[HomeService]

Western & Southern used to have a graded product available through a guy in Florida, it could be brokered. Dunno if he still does it.

 

[CaptiveBroke(r)]

Columbian's Security Protector is a true GI product.

 

[Newby]

Most preneed insurance is true GI PLUS any family member can buy the policy on them with or without their knowledge.

Many times you find that people in that bad of health have just never been responsible enough to do anything and the cost of their death is going to fall on a family member.

ANY family member can buy the GI preneed policy on them and they don't even have to tell them.

Solves a lot of problems. Especially since it has 70% GI coverage after the 12th month.

 

[rousemark]

They got me. Looked at it while on the phone. It's actually their consumer brochure. Received an email with this in the subject line: True Guaranteed Issue WL for UHL/UFF! and a link to the brochure. Thought they changed their requirements and can now call it a "TRUE" GI. Not really true is it?

If you are required to ask about their health and then have to decline to take and app depending upon the answer, then the company would be guilty of false advertising.

 

[HomeService]

At one time Columbian had a rule that you could not have more than a certain percentage of your business being GI or Graded. I do not recall the percentage, and do not know if that is still a rule.

 

[360]

They got me. Looked at it while on the phone. It's actually their consumer brochure. Received an email with this in the subject line: True Guaranteed Issue WL for UHL/UFF! and a link to the brochure. Thought they changed their requirements and can now call it a "TRUE" GI. Not really true is it?

That email was an absolute joke. It just amazes me that you can say "True GI" when it is no where near GI. I guess that's kind of like saying "know before you go" on a PHI and then ordering an APS at the clients expense. They at least need an asterisk with a "some restrictions apply" on these bogus claims.

 

[WinoBlues]

At one time Columbian had a rule that you could not have more than a certain percentage of your business being GI or Graded. I do not recall the precentage, and do not know if that is still a rule.

I do not think that applies to the Columbian MDO. They have not said anything to me and the GI is all I write with them.

 

[Newby]

WIN just pointed out to me that ForeThought has brought out a new version of their GI final expense product. It's a reboot of the ForeThought Select but has the funeral trust and estate planning trust options.

Has a 10 pay, 5 pay, 3 pay option too like the Preneed products. Should be interesting.

 

[CaptiveBroke(r)]

Columbian will issue a graded policy when a level benefit is declined.

I believe the rule is only 1 out 5 or 6 FE policies you write can be issued Graded. Once you go over this, you are suspended from writing any more graded until your level benefit issue fits the % grid.

But this is still not a GI. It is underwritten with medical questions and there can be a decline even for a Final Expense Graded Policy.

The true Guaranteed Issue that Columbian offers is either the Security Protector GI with a 3 year wait or the MDO GI, which is very costly that has a 2 year wait.