I have someone that is leaving the country to help take care of a sick relative. He is in great health and probably would be able to use the accelerated underwriting. He was wanting have coverage before he leaves in a week. One of my carriers would probably get it done, but they are the most expensive of our choices. Would there be an issue if he purchased a policy through that company for fast coverage and then later we replace it with a lower cost policy?
Term Insurance Question
- Thread starter wealthpro
- Start date
- 8,707
No people replace policies all the time for cost considerations. This is assuming you are not in trouble with the carrier already for your placement rate.
- 4,587
Is he disclosing the foreign travel on the application?
- 2,265
Has the door closed on the airplane? The sick relative could pass away before travel begins
- Thread starter
- #5
- 11,291
It's a common question on every life insurance application.
I usually phrase it as "As of this moment, you aren't planning on any foreign travel, are you?" And that is defined as having any tickets purchased, hotel reservations, etc.
But when it is known and planned (like you've described), then yes, it needs to be disclosed on the application.
I usually phrase it as "As of this moment, you aren't planning on any foreign travel, are you?" And that is defined as having any tickets purchased, hotel reservations, etc.
But when it is known and planned (like you've described), then yes, it needs to be disclosed on the application.
- 4,587
Coverage would be denied if foreign travel was to a country listed on the more dangerous travel destinations
- 2,204
Have you written life insurance?
- 5,794
In cases like this does not one ask one's self... why?
- 4,587
Yeah, guessing the person isn't travelling to Canada & worried they may die while there. Likely having to travel to a more dangerous area to care for the family member & this the increase awareness of their own mortality & risk & can't postpone it any longer
