32 Male Smoker Bad Driving Record 20y Term Placement Help

[AOKING]

Hello,

I need some help trying to place a 32 year old male, smoker, good height and weight, no meds with a bad driving record in a 20 year level term with convertibility options.

Two DUI's in the last 10 years. 1 speeding ticket in the last 3 years that was 20 mph over.

Recent decline from ING for MVR.

So far my IMO is telling me I would have to go Guaranteed issue or possibly accident only term. Looking for about $200000 in coverage.

Thanks,

AO

 

[WinoBlues]

Hello,

I need some help trying to place a 32 year old male, smoker, good height and weight, no meds with a bad driving record in a 20 year level term with convertibility options.

Two DUI's in the last 10 years. 1 speeding ticket in the last 3 years that was 20 mph over.

Recent decline from ING for MVR.

So far my IMO is telling me I would have to go Guaranteed issue or possibly accident only term. Looking for about $200000 in coverage.

Thanks,

AO

What are the conversion options? Can you AOR it then convert? Dates of the DUIs? Both last week or both 10 yes ago? Did you do a alcohol and drug questionnaire? Why did you submit to the company you did? Did you know the driving record prior to quoting him.

Lee

 

[AOKING]

What are the conversion options? Can you AOR it then convert? Dates of the DUIs? Both last week or both 10 yes ago? Did you do a alcohol and drug questionnaire? Why did you submit to the company you did? Did you know the driving record prior to quoting him.

Lee

I am just looking for a 20 year level term that I can convert to a perm policy down the road. The potential client currently has no life insurance. DUI dates are 5/2006 and 4/2009. The client completed an alcohol questionnaire after underwriting discovered he had a second DUI. I did not know he had any DUI's (in pre-underwriting over the phone, I didn't ask about MVR). ING had very aggressive rates, that is why I selected them. On the application, it only asked about any DUI's in the past 5 years.....We said yes, even though it had just been over 5 years. I knew about the 1 DUI when I showed up to write the application and most likely should have called my IMO before writing him.

Any thoughts?

 

[WinoBlues]

I am just looking for a 20 year level term that I can convert to a perm policy down the road. The potential client currently has no life insurance. DUI dates are 5/2006 and 4/2009. The client completed an alcohol questionnaire after underwriting discovered he had a second DUI. I did not know he had any DUI's (in pre-underwriting over the phone, I didn't ask about MVR). ING had very aggressive rates, that is why I selected them. On the application, it only asked about any DUI's in the past 5 years.....We said yes, even though it had just been over 5 years. I knew about the 1 DUI when I showed up to write the application and most likely should have called my IMO before writing him.

Any thoughts?

I would have your IMO shop it out. If they have an in house underwriter run it past them. If they do not now may be a good time to find one that does. I like Mike over at Pinney. A strong cover letter is going to help. Hopefully his alcohol and drug questionnaire looks good.

Last one I did like this I got Std with West Coast life(now Protective) But he had stopped drinking and found Jesus.

As to product it is now about finding a company that will take him and at a rate he will accept. You may wind up dropping the time and amount to get the premium down. Remember many companies only pay comp up to table 4 or so. Also he needs to realize it is his problem you are trying to find a solution. He should thank you at the end.

I do not have the apps or guides handy but I would also look at UHL's term I think it has something like 8 tables built in. And Americo's HMS term. Both simplified issue.