Carriers for Client with Pain Killer Addiction on History

[Mehler91]

I have a 40 yo male smoker that did a 30 day in patient rehab for pain killer addiction just shy of 4 years ago. Looking for $500k term, ul, or IUL . NYL and ONL turned down. Any ideas? He is fine with whatever premium I can get, just wants coverage for his wife and 3 kids.

 

[NinjaNic]

Prudential/swiss re says table 4 if no abuse/zero usage for 4-5 years. Table 5-6 if last used 3-4 years. You will need to fully spell out in a cover letter the previous declines, spell out his history since the drugs. Why was he on the drugs initially (prescribed and became addicted). Add things like "goes to church, works full time with no absence, has a wife and 3 kids, doesn't drink etc."

These cases are all about the cover letter. They want to know that he doesn't have other addictive tendencies like smoking, drinking etc. or things in his records like DUIs, BKs, Criminal charges etc.

Good luck and report back the app's outcome.

 

[Mehler91]

Got the table 6 offer from prudential today. Several others told me to apply in July after the anniversary and at that point it would be a fairly big temporary flat extra for 3-4 yrs.

 

[tlmarketing]

I would put the table 6 inforce as it's probably a good offer as he is 4 years out....

Good news is that you can rewrite him after the 5 year anniversary with another carrier, and improve the rate...

 

[Mehler91]

Scratch the 4 years out thing, turns out he had the year wrong, it will be 3 years in June of this year.

 

[lifeuw]

This early out could be a concern for some companies. Could be as good as Table 6 at this point in time. Even better once he's 5 years out.


Carriers will want to know why he started taking those pain meds. Was is due to a back issue that is now resolved? Or is the reason that he is started the pain meds still lingering? If so, that will be more of a concern as well as the carriers will be worried that he could easily start back up again


Present nice cover letter with application highlighted the steps he has taken in his life to improve and turn things around.


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JFlynn
Zenith Marketing Group
800-733-0054 x 6306