Who is the dummy here?

May 29, 2008

  1. Tx249
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    Tx249 Expert

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    I wrote a final expense policy about three weeks ago to replace a Globe policy. I put the reason as: to replace a graded policy with immediate coverage. Underwriting pended the app wanting to know why she had a graded policy. I told them today, that I thought any policy that did not give full coverage up front was graded. They said Globe's policy is their standard policy so they figured there was a major problem here.

    To me, that was my selling point, do you want full coverage today, or do you want to wait another year to a year and a half for full coverage? Right answer, who do want as your beneficiary?
     
    Tx249, May 29, 2008
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  2. The Rabbi
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    The Rabbi Guru

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    What's the big deal. Maybe you need a different carrier. The person is getting a better plan. She is free to do so.
     
  3. hjdinfl
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    They are wondering why they bought the graded to begin with. Why couldn't they buy a standard policy? What is the health problem in other words. So what was the final result?
     
    hjdinfl, Jul 4, 2008
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  4. HoosierDaddy
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    HoosierDaddy Guru

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    What company were you writing? You are in the right. Not only is there a limited benefit for two years, but the premium increases in age bands. And the biggest thing is that coverage will cancel at age 80.

    My only suggestion for the future would be to write Graded Term Life for a policy description...

    Hope all is well in the Lone Star State...
     
  5. senior-advisor-indiana
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    senior-advisor-indiana Guru

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    You really wouldn't even need to put graded. The fact that it is term is reason enough for changing.
     
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