Insurance Agent Forum

[Tom Highway]

I sold a lady and her mother FE policies, and I may be able to sell the grandmother a policy.

The grandmother is 74 and the granddaughter believes she is on hospice. I'll have to go to the mother/grandmother's home to verify this, and get some more info about meds and other conditions.

The granddaughter said she head that Colonial Penn or something other could insure the grandmother on an immediate policy for somewhere around $74 per month, which I have a hard time believing if it's a true immediate (not graded) policy.

If she is truly on hospice, is there any company other than presidential that will even write her, much less not on a graded policy?

I did look at Loyal American's app, and in the disqualifying questions it technically says something like "do you live in a nursing home .... hospice facility, which she technically does not, which would not technically disqualify her, but I'm afraid I'm mincing words.

[Markingriffin]

Originally Posted by Tom Highway

I sold a lady and her mother FE policies, and I may be able to sell the grandmother a policy.

The grandmother is 74 and the granddaughter believes she is on hospice. I'll have to go to the mother/grandmother's home to verify this, and get some more info about meds and other conditions.

The granddaughter said she head that Colonial Penn or something other could insure the grandmother on an immediate policy for somewhere around $74 per month, which I have a hard time believing if it's a true immediate (not graded) policy.

If she is truly on hospice, is there any company other than presidential that will even write her, much less not on a graded policy?

I did look at Loyal American's app, and in the disqualifying questions it technically says something like "do you live in a nursing home .... hospice facility, which she technically does not, which would not technically disqualify her, but I'm afraid I'm mincing words.

Don't touch it with a ten foot pole. Sounds like the lady has 1 feet in the grave now if she is in a hospice. Meaning she is dying very soon. It is too late for her. If you found a company dumb enough to take her and she dies within the 1st year, you would just have to give your commissions back.

[Newby]

Mark is right. Advise them to preplan her at the funeral home. If she is under hospice she is expected to have less than 6-months to live.

A good funeral home can sell them a policy that will give her 50% coverage at the 6th month and 100% at the 12th. No one outside of a funeral home will beat that. The payment is very high but it's much better than doing nothing. It can save the family thousands of dollars and there is NO downside if it done correctly.

Another advantage is the spouse or kids can buy the policy on her and not even tell her. She doesn't need to sign anything. Families like that in these situations.

And yes, I sell these policies but there is 100% chargeback for 12-months so I don't prospect for hospice cases. I just write them if they come to me.