Insurance Agent Forum

[Vinny B]

Any suggestions for GI in PA? We have major heart problems & TB and another one with emphysema here.

Thanks.

[1manshow]

We use presidential life through National Insurance Markets, Inc

[Jim]

My suggestion would be to look at LH 15 pay near GI product for cases like this. Best for customer and higher commission. Let me know if you need a contract. There are other graded plans out there that may work but they are not as liberal as LH. You could go to presidential but commission will not be as high and little advance and it is life pay. We do use them when we need to.

Originally Posted by Vinny B

Any suggestions for GI in PA? We have major heart problems & TB and another one with emphysema here.

Thanks.

[dgoldenz]

You should still be able to get an underwritten policy with emphysema.

[Vinny B]

Thanks for the responses.

Presidential said no GI approval in PA for another month or so.

Depending on which post you read about Lincoln, they're either terrible or great.

I'm new to insurance/FE and out of first 9 leads...3 bad health. Got another emphysema tonight. My head is spinning from reading all these threads. Soooo many FE companies. I'm with 3 now and all ask in the graded section about any meds for emphysema in last two years. Both prospects are taking meds. so I assumed they need GI.

Appreciate the help

V.

[dgoldenz]

Get contracted with some of the major carriers that sell underwritten policies. You're doing your clients a favor in getting them the most coverage for their money instead of just assuming they need GI. Yes, you have to work harder for it, but it will reward you in the end. When you have an impaired risk case, you need to be able to shop it among a number of carriers to get an idea of which one will work best for the client - a brokerage facility can take a summary of the medical history and submit it to the underwriters for various carriers. You can then take that response and find the best premium.

If you just put them with GI, another agent may come along and get them more coverage for their money and make you look bad.

[Jim]

Lh does have faults but these kinds of cases is exactly why I carry and offer them. I also have found them to be the best for some med sup.

Originally Posted by Vinny B

Thanks for the responses.

Presidential said no GI approval in PA for another month or so.

Depending on which post you read about Lincoln, they're either terrible or great.

I'm new to insurance/FE and out of first 9 leads...3 bad health. Got another emphysema tonight. My head is spinning from reading all these threads. Soooo many FE companies. I'm with 3 now and all ask in the graded section about any meds for emphysema in last two years. Both prospects are taking meds. so I assumed they need GI.

Appreciate the help

V.

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[Vinny B]

Thanks David. That's what I'm all about...getting client the best value. Just need some direction. First prospect, 74 with heart problems said he was quoted $150/month for 10k final expense. I don't know if that's good/bad for his "condition." Presidential will be around $142 when approved. But If could get him better price/more coverage, I'd work my ass off to do it. That comes back times 10. My first sale was cake so why shouldn't I work a little for the next one?

Will still look into LH. Can't hurt to have it in the bag.

V.

[Jim]

Yep, this is perfect example LH is 10k $138 and it is only a 15pay. You could got up to 15k with him as well.

Originally Posted by Vinny B

Thanks David. That's what I'm all about...getting client the best value. Just need some direction. First prospect, 74 with heart problems said he was quoted $150/month for 10k final expense. I don't know if that's good/bad for his "condition." Presidential will be around $142 when approved. But If could get him better price/more coverage, I'd work my ass off to do it. That comes back times 10. My first sale was cake so why shouldn't I work a little for the next one?

Will still look into LH. Can't hurt to have it in the bag.

V.

[nka245]

You definitely are not getting the best value at Presidential, that is for sure, even if they were approved there...

[dgoldenz]

Originally Posted by Vinny B

Thanks David. That's what I'm all about...getting client the best value. Just need some direction. First prospect, 74 with heart problems said he was quoted $150/month for 10k final expense. I don't know if that's good/bad for his "condition." Presidential will be around $142 when approved. But If could get him better price/more coverage, I'd work my ass off to do it. That comes back times 10. My first sale was cake so why shouldn't I work a little for the next one?

Will still look into LH. Can't hurt to have it in the bag.

V.

The big question would be what kind of heart problems? How has he recovered from them? How recently were they? We had an older client last year with a very high face amount program and were able to get him Table 2 rates with a major carrier when he was Table 8 to decline with everyone else. What happened to him you ask.....quadruple bypass operation among other things, but he had recovered well and was offered a great rate. You never know what may come back from the underwriters.

$150/month for a $10k death benefit is $1800/year - if it's a graded death benefit and he dies before year 3, he got nothing out of it. If he dies in year 5, he's nearly paid the full $10k in premium, so he needs to figure that he hopes to die somewhere between the start of year 3 and the start of year 5 - given that nobody can predict when they are going to die, the odds of them falling into that range are not great. If you explore all options of an underwritten policy and cannot get an offer, then would be the time to bring up what you are looking into with the GI policy.
- - - - - - - - - - - - - - - - - -
A quick look shows that Genworth for $25k guaranteed until age 121 would be $1235/year at standard rates. If he could secure even a table 4 rating, he would be at ~$200/month with coverage guaranteed forever and no graded benefit for more than double the coverage.