I realize this is the FE Forum, but I have a lead who wants about $250,000 20YLT. He is 55 and is on disability since 2010 because of a back injury. Takes Percoset, Nucyenta and Gabapentin. I have called a half dozen or so underwriters and all say no. He has been declined 3 times before I came into the picture so I am thinking it is a lost cause.
Tough Term Life Case
- Thread starter billyb
- Start date
- 1,410
If there's any company that'll approve this case it'll be Phoenix "Term Life Express": I've gotten several crazy cases approved with them including a 67 year old insulin diabetic & a 64 year old woman with RA & several depression meds.
- 3,764
Neither of PHX Life term products take individuals who are on Gabapentin , Insulin, and pain medications
Only *** agents say stuff like they get cases like this approved.
- Thread starter
- #4
beginner
Expert
- 50
Check on 5 star's term to 100.
- 3,764
can't be on disability, and can't ever been declined for coverage. to qualify for 5Star's product. Hope you aren't clean sheeting apps.
Maybe you should watch a training video on the product, before coming on an open forum and saying things like this
bluezebra48
Expert
- 67
MOO TLE will take someone on disability for back or neck pain. The meds should be good, I don't have a sheet in front of me.
- 357
Make sure to qualify him financially too. A lot of carriers treat unearned income at a lower multiple of earnings for term.
- 2,584
On the Phoenix Term Life Express application:
Are the first set of "screening" questions 1-12 supposed to determine if qualified for the product ?
What are the the second set of "medical" questions in Section 2 for ?
Are the first set of "screening" questions 1-12 supposed to determine if qualified for the product ?
What are the the second set of "medical" questions in Section 2 for ?
- 3,764
first set of questions are Knock Out
Part 2 has their own questions that you can answer YES to. They use the answers, along with current/past medications , to determine eligibility, or if an APS is needed.
They have a formula which is kind of a pain. Ex. For term express ( non APS ) plan, if a person is taking so many medications, they are disqualified.
But they could then qualify for the safe harbor term, at about the same price or cheaper.
We tend to get both set of applications signed and completed, as a precaution.
IN my opinion , they are a company that you need to run your clients risk profile past, to get guidance on.
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