Final Exp or Life for 80 Year Old Female?

jpetreeko · 07-06-2009, 08:27 PM

I'm appointed with numerous carriers, but I'm always looking for additional resources if possible. I'm looking to find the best rates for an 80 yr. old female, non-smoker who is looking for a $10k final exp. policy. She will accept any type of plan that will give her $10k in case of death. I've only found 1 carrier so far that will do this and the cost will be around $100 p/mos.

She's a personal friend so if I can get her the best rate possible I want to do so. Anyone out there have any thoughts or ideas? Am I being too aggressive by not accepting $100 p/mos. for this type of coverage considering her age? Thank you in advance everyone...

Jon Petreeko
Petreeko Business Systems, LLC

jody108 · 07-06-2009, 08:42 PM

Life or FE? it seems like I always lose with Life on 80yr olds and older ... however, since she is a friend, why not go with fully underwritten life and then come back with an FE if she doesn't get approved.

I know RNA is around $70 bucks for 10k, 80 yr old ... but it's fully underwritten.

Newby · 07-07-2009, 12:12 AM

[quote=jpetreeko;170451]I'm appointed with numerous carriers, but I'm always looking for additional resources if possible. I'm looking to find the best rates for an 80 yr. old female, non-smoker who is looking for a $10k final exp. policy. She will accept any type of plan that will give her $10k in case of death. I've only found 1 carrier so far that will do this and the cost will be around $100 p/mos.

She's a personal friend so if I can get her the best rate possible I want to do so. Anyone out there have any thoughts or ideas? Am I being too aggressive by not accepting $100 p/mos. for this type of coverage considering her age? Thank you in advance everyone...

Jon Petreeko
Petreeko Business Systems, LLC[/quote

Assurant/American Memorial is $91.65 and is VERY simplified issue and you get the definite approval at the time of application. No waiting on underwriting. You can also write the app BEFORE you are appointed.

Oxford is $86.75 per month. Also definite answer at the time of app. You must be an approved agent before writing with Oxford.

Also the RNA fully underwritten is hard to beat if she is healthy enough.

cainsurance · 07-07-2009, 01:18 AM

I have a 67 male customer in CA with a pacemaker that he got about 11 months ago. I am looking for a great Final Expense carrier with great prices. Can anyone please help me out. Thank you in advance.

jody108 · 07-07-2009, 08:49 AM

The only place i know that will give him immediate coverage is GTL FE ... however, I think SASID is the only that uses their FE ... Also, it would have had to been a year or more before they will consider him. that is if the pacemaker is the only problem ... otherwise, he would have to wait 2 years to be considered for immediate benefit ... otherwise, you are going to have to go graded/rop ... which i don't know who has the best prices? Can anyone recommend a good price graded/rop product? I think they all kind of suck in price. At least the ones I've seen.

jdeasy · 07-07-2009, 09:55 AM

For the lady that the op asks about, nothing is better than RNA's fully underwritten if she is in relatively good health and has plenty of time to wait.

A 6 week turnaround time from date of app to issue would be moving at the speed of light for RNA.

cainsurance · 07-08-2009, 02:03 PM

Originally Posted by jody108

The only place i know that will give him immediate coverage is GTL FE ... however, I think SASID is the only that uses their FE ... Also, it would have had to been a year or more before they will consider him. that is if the pacemaker is the only problem ... otherwise, he would have to wait 2 years to be considered for immediate benefit ... otherwise, you are going to have to go graded/rop ... which i don't know who has the best prices? Can anyone recommend a good price graded/rop product? I think they all kind of suck in price. At least the ones I've seen.

Thank you, but I am sorry what does GTL and SASID stand for?

R. Paul Aguirre · 07-08-2009, 05:20 PM

Trans can do a mpac for just under $119

$100 sounds pretty good

leftsided · 07-08-2009, 05:35 PM

Originally Posted by cainsurance

Thank you, but I am sorry what does GTL and SASID stand for?

GTL = Guarantee Trust Life

SASID = Smart and Simple Insurance Development

CFP83 · 07-11-2009, 08:57 AM

Originally Posted by jpetreeko

I'm appointed with numerous carriers, but I'm always looking for additional resources if possible. I'm looking to find the best rates for an 80 yr. old female, non-smoker who is looking for a $10k final exp. policy. She will accept any type of plan that will give her $10k in case of death. I've only found 1 carrier so far that will do this and the cost will be around $100 p/mos.

She's a personal friend so if I can get her the best rate possible I want to do so. Anyone out there have any thoughts or ideas? Am I being too aggressive by not accepting $100 p/mos. for this type of coverage considering her age? Thank you in advance everyone...

Jon Petreeko
Petreeko Business Systems, LLC

80 is a major "tipping point" in simplified issue business. Most of the carrriers use age nearest instead of age last, is your friend age 80 age nearest? If she's 80 take a look at United Home life, now United Farm Family. They go up to age 80 and have a great simpified product. If not she's 81 then and that's a whole different story with a completely different list of options. I would use American Amicable or Fidelity life in this scenerio.

Newby · 07-11-2009, 09:34 AM

Originally Posted by CFP83

80 is a major "tipping point" in simplified issue business. Most of the carrriers use age nearest instead of age last, is your friend age 80 age nearest? If she's 80 take a look at United Home life, now United Farm Family. They go up to age 80 and have a great simpified product. If not she's 81 then and that's a whole different story with a completely different list of options. I would use American Amicable or Fidelity life in this scenerio.

Are you sure about that?

I don't know of any FE companies that use age nearest. All of mine use age last. Getting a semi-healthy 80 or 81 year old issued is no problem.

SportsNut · 07-11-2009, 01:33 PM

Originally Posted by Newby

Are you sure about that?

I don't know of any FE companies that use age nearest. All of mine use age last. Getting a semi-healthy 80 or 81 year old issued is no problem.

Careful Newby, you are speaking to a CFP.

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Just wanted to mention that maybe you should speak slower....

j/k.

I believe that the CFP has stated before that he is a young buck, in his 20's. Kind of about the amount of ins and funeral experience Newby has... (not kidding).