Term Life Insurance for Obese client

[scagnt83]

That's worth a shot- I agree, he does need more life insurance. Is there any limit to how many IUL's a person can have?

No limit to the amount of policies a person can have. Carriers have limits on the total amount of DB a person can have though in relation to income/debt/etc. But that total could be 1 IUL or 20 IULs, or 1 term or 20 term policies.

 

[RunnerDude]

Thanks- I believe the best solution is to just write the mother a second IUL.

 

[rousemark]

Thanks for everyone's input. I have a young couple with two small children. I wrote an IUL with Mutual of Omaha for the mother ($250,000 face), and now she wants to write a similar one for each of her two children (ages 6 & 8). I'm not sure if the rule applies with all companies, but Mutual of Omaha says that they will allow an IUL to be written on a dependent for no more than 1/2 the level of life insurance in place for each of the parents. Their goal is to take out IUL's for $125,000 for each of their children to help pay for their future expenses. Since the father is very obese (as I mentioned previously), I am trying to find a way to get his insured level up to $250,000 (he currently has $50,000 coverage through work). The other option is to write another IUL on the mother earmarked for their future expenses.

Put on the application for the amount the mother has and then state the father is uninsurable because of build. Most companies will accept that.

 

[Lloyds of Lubbock]

You really think someone 6 feet tall and 340 pounds only has a weight problem?

 

[Life Hawk]

You really think someone 6 feet tall and 340 pounds only has a weight problem?

I'm sorta thinking he has an eating issue.

 

[NewbieNewbie]

You really think someone 6 feet tall and 340 pounds only has a weight problem?

You would think so but not always. Had a guy about five years ago we did a phone app. Told me he was 6 4 300lbs paramed comes out and he was 380. He was not lying in fact he called me right after the paramed left to apologize. He said he had just had not weighed in a couple years. We were at a t8 rate but no wiggle room for any medical surprises. Sure enough it is issued. Cool part of the story is he calls me about 3 years later to thank me and I said what for and he said that exam was a wake up call. So he said he started walking a half mile daily, then 1,2 and so on. Soon he started to jogging and then tells that in a couple weeks he will be doing his first marathon. He was now 6 4 220. Needless to say we rewrote his policy.