What is Up with Presidential?

[dima]

I have client who is 80 year old man and has alzheimers.
I was going to write him with Presidential but as it turns out they are not accepting applications in Florida for now.

Is there another company I can use? I got wife covered just fine with another carrier. However, husband needs coverage too...

Any suggestions?

 

[Dave020]

The GBL product with the new cash values is still pending approval in certain states . As of 1/1/09 30 states have approved, neither being Florida nor California.

 

[Newby]

I have client who is 80 year old man and has alzheimers.
I was going to write him with Presidential but as it turns out they are not accepting applications in Florida for now.

Is there another company I can use? I got wife covered just fine with another carrier. However, husband needs coverage too...

Any suggestions?

You might look at Americo. If that's not available, just ForeThought's Encore.

 

[dima]

Americo does not go to age 80 on their UPIII. Max is 75.
What is Forethought Encore? I did not know that Forethough has GI.

 

[Newby]

Americo does not go to age 80 on their UPIII. Max is 75.
What is Forethought Encore? I did not know that Forethough has GI.

ForeThought's main product is Encore. It's always been distributed through their funeral home channel and is completely guaranteed issue. You'll have to find out who could appoint you in Florida. You might talk to an agent who works in a funeral home or call ForeThought directly.

It may not be worth the effort because the commission on it is not great after age 76 and is real bad after age 81.

The commissions on funeral pre-need insurance go by age bands and face amounts (not annualized premiums.) Ages 51-70 pay well. Older and younger do not.

You might just need to refer her to an agent with a funeral home and have him pay you a referal fee. Within a funeral home theyhave choices of ForeThought, Homesteaders, Monumental, NGL, and several others that will be guaranteed issue. Most of them have 70% coverage at the 12th month and 100% at 24th. Some have coverage start at the 6th month and Monumental has no coverage for anyone until the 24th month.