Any Ideas on Term Life Recommendations?

[RookieYankee]

I have a woman who has a lot of whole life insurance through nationwide. She very much believes in Life Insurance and wants to get something else to have extra to give to her grandchildren but wants a term policy. My issue is she is 60 years old, has high blood pressure, high cholesterol and takes pills for diabetes (no insulin).

While she told me this I thought to myself possibly Sagicor or American National but I noticed American National has diabetes on their questions as well as high blood pressure. Any ideas on what company I should recommend?

 

[Stevekobrin]

This combination of factors is pretty typical for somebody her age. There are carriers who specialize in underwriting people age 60 and over. They will look at these conditions very thoroughly but will also be willing to aggressively apply their underwriting guidelines. Your next step is to work within your network of wholesalers to see which one has a really solid relationship with an underwriter in one of these companies. Feel free to PM me for further guidance.

 

[Josh]

As long as the HBP and HCL are under control, most underwriters don't really care. The diabetes is going to matter, but if it's just pills you're still not in a terrible spot. Just because a carrier is asking questions doesn't mean they're going to disqualify based on that, especially with term.

Any particular reason for term over GUL or WL?

 

[WinoBlues]

I have a woman who has a lot of whole life insurance through nationwide. She very much believes in Life Insurance and wants to get something else to have extra to give to her grandchildren but wants a term policy. My issue is she is 60 years old, has high blood pressure, high cholesterol and takes pills for diabetes (no insulin).

While she told me this I thought to myself possibly Sagicor or American National but I noticed American National has diabetes on their questions as well as high blood pressure. Any ideas on what company I should recommend?

If you quote Sagicor quote the rated rates. (not in Compulife)Also if more than two HBP meds call underwriting first.

 

[RookieYankee]

As long as the HBP and HCL are under control, most underwriters don't really care. The diabetes is going to matter, but if it's just pills you're still not in a terrible spot. Just because a carrier is asking questions doesn't mean they're going to disqualify based on that, especially with term.

Any particular reason for term over GUL or WL?

WL was the first option I wanted to go with. I'm a big proponent of WL but she said she wanted more life insurance. Since she already had a WL policy which would have covered her funeral cost I figured this would be just extra. The GUL was an option but I was being told by a few people after to go with Sagicor or Protective. Unfortunately I ended up going with Transamerica since I called their underwriting team and they said they wouldn't disqualify her if it's just pills.

 

[UW Guy]

WL was the first option I wanted to go with. I'm a big proponent of WL but she said she wanted more life insurance. Since she already had a WL policy which would have covered her funeral cost I figured this would be just extra. The GUL was an option but I was being told by a few people after to go with Sagicor or Protective. Unfortunately I ended up going with Transamerica since I called their underwriting team and they said they wouldn't disqualify her if it's just pills.

The bigger issue on her diabetes is usually control. If her glucose and HgA1c's aren't wacky you shouldn't be too bad off. If she's walking around with blood like the Kool-Aid man, it's a tougher road to hoe.

If the BP is controlled on meds same story. Cholesterol on a statin medication (i.e. Crestor, Atorvastatin, etc) is usually looked upon as a good thing in some company's outlooks. With some carriers I know the issue gets to be you can only issue term so far out so hopefully she's not walking around at a super high BMI or have some bad echocardiogram/stress echo issues going on in her past if they want to go to records.

 

[RookieYankee]

The bigger issue on her diabetes is usually control. If her glucose and HgA1c's aren't wacky you shouldn't be too bad off. If she's walking around with blood like the Kool-Aid man, it's a tougher road to hoe.

If the BP is controlled on meds same story. Cholesterol on a statin medication (i.e. Crestor, Atorvastatin, etc) is usually looked upon as a good thing in some company's outlooks. With some carriers I know the issue gets to be you can only issue term so far out so hopefully she's not walking around at a super high BMI or have some bad echocardiogram/stress echo issues going on in her past if they want to go to records.

She's overweight that's the only thing I'm bothered by. She's about 5'3 225. Aside from that she works six days a week as a meat packet at a local grocery store.

 

[goillini52]

She's overweight that's the only thing I'm bothered by. She's about 5'3 225. Aside from that she works six days a week as a meat packet at a local grocery store.

Sounds like she's been packing(on)a lot of meat!!!

 

[critter]

She's overweight that's the only thing I'm bothered by. She's about 5'3 225. Aside from that she works six days a week as a meat packet at a local grocery store.

"She works six days a week as a meat packet...." might be one of the most unfortunate typos in the history of the Internet.

 

[goillini52]

"She works six days a week as a meat packet...." might be one of the most unfortunate typos in the history of the Internet.

That "packet" just keeps getting bigger and bigger!