Who Knows About Bankers Underwriting ?

[noah]

I attempted to replace a Banker's Life UL that was issued 1st day coverage May 2014 with SIWL and got shot down 2X so far. 1 carrier wants an APS and the other is offering graded due to the pharmacy report and 3 MIB hits.
There have np been no health changes in the last year.
Proposed insured takes insulin,medicine for High blood pressure.

The kicker n this one is,he passed a paramed in May 2014 to get the 50K UL ?

Any ideas ?

 

[Iwillpay]

Why would you want to replace it ?

 

[Jerard]

Even though a Bankers plan was most likely clean sheeted anyway, few companies deserve to be replaced more than them. However, if he makes it another year than it becomes incontestable (you really don't know what those MIB hits are for and it's beyond me how he passed the paramed).

The reason we have to get licenses is for us to learn that being responsible to the people is kinda important (it's paramount, actually). We are like doctors in that we must "do no harm" with regards to the people we meet. I would never sell anyone a UL but if has the best he can get now, leave it be.

 

[noah]

Even though a Bankers plan was most likely clean sheeted anyway, few companies deserve to be replaced more than them. However, if he makes it another year than it becomes incontestable (you really don't know what those MIB hits are for).

The reason we have to get licenses is for us to learn that being responsible to the people is kinda important (it's paramount, actually). We are like doctors in that we must "do no harm" with regards to the people we meet. I would never sell anyone a UL but if has the best he can get now, leave it be.

The app had 1 yes answer (insulin)



Does Banker's do an mib/script check ?

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[rousemark]

The app had 1 yes answer (insulin)



Does Banker's do an mib/script check ?

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You are overlooking the fact that there was a paramed performed. Even if the agent clean sheeted, the nurse would not have done the same. If any question was answered wrong, then the client had to be in on the deception and lie to the nurse. Put this one behind you and move on. To do otherwise is a waste of time, energy and resources.

 

[noah]

You are overlooking the fact that there was a paramed performed. Even if the agent clean sheeted, the nurse would not have done the same. If any question was answered wrong, then the client had to be in on the deception and lie to the nurse. Put this one behind you and move on. To do otherwise is a waste of time, energy and resources.

Good point.
Nobody wants to leave any money on the table.

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[jdeasy]

I attempted to replace a Banker's Life UL that was issued 1st day coverage May 2014 with SIWL and got shot down 2X so far. 1 carrier wants an APS and the other is offering graded due to the pharmacy report and 3 MIB hits.
There have np been no health changes in the last year.
Proposed insured takes insulin,medicine for High blood pressure.

The kicker n this one is,he passed a paramed in May 2014 to get the 50K UL ?

Any ideas ?

Why does he want to replace it? Does he want whole life instead of UL. What's in the policy that he doesn't like?

I would look at RNA's EL or Trinity's FU rather than SIWL. But, what is the insured's goal?

 

[noah]

Why does he want to replace it? Does he want whole life instead of UL. What's in the policy that he doesn't like?

I would look at RNA's EL or Trinity's FU rather than SIWL. But, what is the insured's goal?

When I reviewed his UL and pointed out the page that reads non guaranteed, indeterminute values,flexible premium/DB,that wasn't what he wanted.

He wants level premium, guaranteed DB.

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[jdeasy]

When I reviewed his UL and pointed out the page that reads non guaranteed, indeterminute values,flexible premium/DB,that wasn't what he wanted.

He wants level premium, guaranteed DB.

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OK. Then why not RNA or Trinity?

 

[noah]

OK. Then why not RNA or Trinity?

Not in the tool bag.


Heck I figured 1st day coverage so I went Standard/Trans,Deluxe/UHL

He passed the paramed ?

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