G.I. first day coverage

[SoCalAdvisor]

Has anyone here recently looked into a guaranteed issue product that offers first day coverage? Must be able to work 20 hours a week. Comp isn't the best but it fills a niche. To those that have, your thoughts.

 

[goillini52]

Has anyone here recently looked into a guaranteed issue product that offers first day coverage? Must be able to work 20 hours a week. Comp isn't the best but it fills a niche. To those that have, your thoughts.

Saw it offered, but haven't checked it out.

What company and what's the comp? Sounds like an association.

 

[suranceman]

Well its not GI if they ask a question that determines eligibility.

 

[Cornelius]

It is an association WL policy up to 100K. I think min is 25K. I will message a link that explains it and other plans they offer. At least I hope I can do it.

 

[SoCalAdvisor]

This is what I found.....

Features:

• Immediate WL Coverage from $5,000 to $100,000 Face Amount
• No HEALTH QUESTIONS… No Height and Weight Questions
• No Exam
• No APS
• No MIB or MVR
• No Prescription Drug Check
• No Lexus Nexus type Life-Style Underwriting
• Offered through a 100 + year-old (A Rated) by AM Best Carrier
• Available ages 18 to 70
• Rates offer Guaranteed Premiums, Death Benefit, and 3% Cash Values Endow at age 95
• The Current Interest rate is 4.25%
• Premiums also include Accidental Death up to $100,000
• Premiums on this WL Plan are ½ the cost of Graded DB WL plans

This is NOT a GRADED Death Benefit Product; Coverage starts IMMEDIATELY

 

[Newby]

This is what I found.....

Features:

• Immediate WL Coverage from $5,000 to $100,000 Face Amount
• No HEALTH QUESTIONS… No Height and Weight Questions
• No Exam
• No APS
• No MIB or MVR
• No Prescription Drug Check
• No Lexus Nexus type Life-Style Underwriting
• Offered through a 100 + year-old (A Rated) by AM Best Carrier
• Available ages 18 to 70
• Rates offer Guaranteed Premiums, Death Benefit, and 3% Cash Values Endow at age 95
• The Current Interest rate is 4.25%
• Premiums also include Accidental Death up to $100,000
• Premiums on this WL Plan are ½ the cost of Graded DB WL plans

This is NOT a GRADED Death Benefit Product; Coverage starts IMMEDIATELY

Who is the insurance carrier?

 

[rousemark]

Who is the insurance carrier?

This seems to give all the info except the carrier. The rates are better than some companies simplified issue immediate benefit plans

Guaranteed Acceptance Life Insurance with Immediate Coverage

 

[LostDollar]

Saw it offered, but haven't checked it out.

What company and what's the comp? Sounds like an association.

Who is the insurance carrier?

This seems to give all the info except the carrier. The rates are better than some companies simplified issue immediate benefit plans

Guaranteed Acceptance Life Insurance with Immediate Coverage

(you three know the following sentence)
Caveats, I am not an insurance agent nor I am I a MLM of any type.

This is a possibility -- and I emphasize POSSIBILITY-- only.

The America’s Consumer’s and Affiliates Limited Partnership
--Maybe using a company called Enrollment First Inc as an administrator
and Boston Mutual Life Insurance Company as the insurance underwriter.

 

[DonP]

I’m pretty sure it’s Boston mutual . This is a day one benefit whole life policy with one question ? The premium can never increase and the DB can never fall ? If a contestable claim hits it will be tough to verify if self employed person was really working 20 hrs a week .

 

[rousemark]

I’m pretty sure it’s Boston mutual . This is a day one benefit whole life policy with one question ? The premium can never increase and the DB can never fall ? If a contestable claim hits it will be tough to verify if self employed person was really working 20 hrs a week .

If they contested the claim it would be on the company to prove the insured was not working 20 hours per week. The insured doesn't have to prove it.