Is $50K policy possible with no underwriting?

[Nikita]

Hello everyone: I rarely post on these forums but I could use some guidance. I mostly sell Medicare policies but occasionally I have a client request a burial policy. I currently have a client who wants a $50,000 level life insurance policy with no underwriting. He is 68, slightly overweight, takes only high blood pressure med and metformin. Is this even possible? If it is possible, which carrier would do this? If this is not possible, what is the largest face amount he could get with no underwriting? Thanks for your help.

 

[fed up]

Stack 2 GWL policies of $25K each

 

[jdeasy]

Hello everyone: I rarely post on these forums but I could use some guidance. I mostly sell Medicare policies but occasionally I have a client request a burial policy. I currently have a client who wants a $50,000 level life insurance policy with no underwriting. He is 68, slightly overweight, takes only high blood pressure med and metformin. Is this even possible? If it is possible, which carrier would do this? If this is not possible, what is the largest face amount he could get with no underwriting? Thanks for your help.

It's not possible to get level coverage GI. Easy to get $50K of GI coverage though.

But why would you do that to your client?

If you just meant no exam almost every FE company would approve that level. Personally I would do one $50K policy with KSKJ.

 

[Life Hawk]

Hello everyone: I rarely post on these forums but I could use some guidance. I mostly sell Medicare policies but occasionally I have a client request a burial policy. I currently have a client who wants a $50,000 level life insurance policy with no underwriting. He is 68, slightly overweight, takes only high blood pressure med and metformin. Is this even possible? If it is possible, which carrier would do this? If this is not possible, what is the largest face amount he could get with no underwriting? Thanks for your help.

Wondering what simplified underwriting would reveal? Don't fully understand your question. He doesn't want any underwriting? Why? Is he thinking paramed?

Stacking is probably a good option, but not the best if his health is in reasonable shape. Seems to me simplified underwriting like found in FE products should do the trick. No paramed need for reasonable amounts, and stacking policies is an option.

But I'm still baffled as to why no underwriting? And why 50k, would another amount do?

 

[Newby]

Hello everyone: I rarely post on these forums but I could use some guidance. I mostly sell Medicare policies but occasionally I have a client request a burial policy. I currently have a client who wants a $50,000 level life insurance policy with no underwriting. He is 68, slightly overweight, takes only high blood pressure med and metformin. Is this even possible? If it is possible, which carrier would do this? If this is not possible, what is the largest face amount he could get with no underwriting? Thanks for your help.

He can easily qualify for $50,000 or even $100,000 with out taking a paramed physical. With 1st day coverage and good rates.

If he doesn’t even want to be asked any health questions at all he can get two $25,000 GI policies with 2-year wait before full coverage. But he would be pretty crazy to do that. No reason to.

You can pull up quotes for free at FexContracting.com for him. Limited to 5-quotes per day on the free version.

 

[LostDollar]

But I'm still baffled as to why no underwriting? And why 50k, would another amount do?

I can't think of precisely the right technical terms, but one concern might be "senior testing", stuff that gets into things like cognition and gait testing.

He may have some legacy considerations or health care funding considerations in addition to burial expense concerns.

 

[suranceman]

To JD's point, level GI coverage does not exist.

I think this article sums it up nicely.

But it sounds like this guy can easily qualify for most SIWL products.

 

[Life Hawk]

He can easily qualify for $50,000 or even $100,000 with out taking a paramed physical. With 1st day coverage and good rates.

If he doesn’t even want to be asked any health questions at all he can get two $25,000 GI policies with 2-year wait before full coverage. But he would be pretty crazy to do that. No reason to.

You can pull up quotes for free at FexContracting.com for him. Limited to 5-quotes per day on the free version.

Don't write too many 100k whole life polices, but who would you suggest for that amount of coverage on a 68 year old male with diabetes and hbp without a paramed?

 

[WinoBlues]

I mostly sell Medicare policies

with no underwriting.

Being that you are Medicare primarily, What do you mean no underwriting? Could you mean simplified Issue? As in limited questions and forgiving underwriting?

And yes you can write $50,000. and as others have said you can stack multiple policies to whatever face he wants, within reason.

As mentioned there are traditional policies as well.

 

[Newby]

Don't write too many 100k whole life polices, but who would you suggest for that amount of coverage on a 68 year old male with diabetes and hbp without a paramed?

It would be with 4 $25,000 FE policies. You are only working around the diabetes. Obviously the age and hbp are no problem at all. So just pull out the four carriers you have that accept diabetics at preferred or standard at good rates and you are ready to write.