Possible exchange at age 72? Or go new policy?

[TampaHound]

Long story short an older couple asked me to look into this for them, I'm still a licensed agent but since I work back office for my company I'm not appointed with said company (because of stupid rules I guess).

They have a term with AARP/NYL paying about $91 a month for 50K. They are either looking to do an exchange or a possible new WL policy. Yes, I told them they may want to consider a lower amount and that the cost gets higher as they get older.

72/F/NS - state of PA. Simple issue probably the way to go as health issues might be an issue - for example I know she uses a cane and I have seen her in an electric wheelchair BUT not often. No idea on what meds, if any, she takes.

Ideas?

 

[shooter]

The AARP plan goes up in 5-year increments.
Can you convert it to a WL with New York Life?
A 50,000 WL will cost them in the $300 plus
a month dollar range.

Maybe a GUL.

 

[shooter]

I ran a compulife quote, 50,000 72 female standard.
$188 a month on GUL standard with Columbus Life
$239 per month with Capitol Life for a WL
Sounds cheap to me for WL.

But if rated, of course it will be more.

 

[Life Hawk]

What are their goals. Hard to build a house with out a plan. Need more information as to why they took those amounts out in the first place.

 

[TampaHound]

What are their goals. Hard to build a house with out a plan. Need more information as to why they took those amounts out in the first place.

Sorry for the delay...I wanted to get some additional info from them and we ended up playing phone tag for a couple days. Long story short, it's the usual story. Not much income so they took a term and now they are getting priced out and realized that they will probably live past 80. Sending you an IM and Shooter an IM since you both replied. I can't write them a policy due to my contact with NYL (and it's stupid if you ask me but whatever).