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That "packet" just keeps getting bigger and bigger!
Meat packer I hate autocorrect haha
Any Ideas on Term Life Recommendations?
- Thread starter RookieYankee
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Meat packer I hate autocorrect haha
That's a BMI of 39.9... not great but potentially still workable since women tend to get more of a break than men unless the rest of her history is just down right ugly.
Hopefully you don't get any push back for trying to put on this term for her. Doesn't sound like she's got a ton of income/NW hanging around and income replacement factors get tighter on older insureds. I work for a front-line carrier (if you haven't read my profile it's a carrier you love seeing come through for replacing if that's a hint) and while we can get overly generous to people up age 45-50 on income replacement once they get above 50 I believe we get pretty tight.
Stevekobrin
Expert
It seems to me that a UL from a carrier that offers table-shaving might be an option, especially considering her build. What do you think, UW Guy?
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If she's looking for term (and if I'm reading between the lines correctly I'm assuming highest face and lowest cost possible is what she's aiming for here) she might not want to hear about UL although it would be in her better interest given her current health and monetary situation. In fact any option allows her to table-shave or take an overall offer, go for it.
I tried to work through brokerage last week for a guy with a HgA1c of over 10% with protein in his urine and a BMI of close to 40- and those were just the highlight issues. Prudential was an exceptionally tentative table 8 but he was not in good control. Can't issue term out that high but we can try to do some small WL products.
Stevekobrin
Expert
Yes, table shavings would be good for her. If money is that much of an issue, she can dial in the guarantee for 10 or 20 years instead of to age 100.
UW Guy, you mention whole life. Have you seen carriers shave tables or provide other underwriting perks with that product as much as with UL?
UW Guy, you mention whole life. Have you seen carriers shave tables or provide other underwriting perks with that product as much as with UL?
I would not recommend Sagicor on this case.... Actually Transamerica's Trendsetter Express would be the product..... They have a special rate that goes to table 4 as standard called "Standard Express". It is Non-Med to age 60 (age last) at $25k to $249,999 and may be what you are looking for.
With the combination of factors and weight, Sagicor would be at a table 4 or more on a fully underwritten scale and most likely a decline on the Simple Issue underwriting.
With the combination of factors and weight, Sagicor would be at a table 4 or more on a fully underwritten scale and most likely a decline on the Simple Issue underwriting.
Yes, table shavings would be good for her. If money is that much of an issue, she can dial in the guarantee for 10 or 20 years instead of to age 100.
UW Guy, you mention whole life. Have you seen carriers shave tables or provide other underwriting perks with that product as much as with UL?
The carrier I work for allows a table-saving to keep table 1-5 risks on their books as permanent standard risks for NT and Occasional TO risks. WL is easier to place with our brokerage risks since issuing term on anything over table 4 is enough to give you an aneurysm (at least our term products anyway). So we tell reps that the offer is table 8 (for example) can't issue term, we can either see what a WL product looks like at that class or go to our outside since the "bird in the hand" is pretty crappy.
Stevekobrin
Expert
Very interesting, UW GUY. And if the client wanted a lower guaranteed premium than that provided by WL, do you have a GUL with the same concessions?
Sadly no, we're in a take it or leave it position since we have a few layers of reinsuers and brokerage so we tell our reps they have other avenues they can pursue if they don't like our offer.
Stevekobrin
Expert
Hmmm. How about a term/WL mix? Can you get that somewhat close to a UL premium?
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