Best Carrier for 61M with DWI 2+ Years Ago

[term2u]

Hi there,

I'm always grateful for everyone who posts in this forum and you guys are a HUGE asset, so thanks in advance for any help/info.

I have two clients who is currently paying the ART premiums (have been for 4yrs) on their existing 10yr term policies. Their current ART policies are meant to fund their buy-sell agreement.

Anyway, I'm trying to replace their current ART policies, but am running into a bit of a problem, due to the fact that one of the partners (61M, retired/divorced), had a DWI in Sept 2012. I completed a alcohol questionnaire with him and he also said that he hasn't had any issues with alcohol, but that he currently drinks about 3-4 beers/day, which I KNOW will pose a problem with the UW. He also completed 6mths of AA, court ordered, but hasn't had any issues since.

Any thoughts on who we should apply with? I'm thinking Banner, Pru, or Genworth, due to him being able to get a STD NT since the DWI is over 2yrs ago. I also know that we're going to have to 'package' it correctly with a CL to the UW - ie: business man, influential in community, one time thing - no issues moving forward, craft beer enthusiast, etc.. Thanks!

 

[StanTheInsMan]

That will be an auto decline as a daily drinker with the DUI and completed AA is a no no. The only option I can think of is if the original policy may havw a guaranteed renewable rider option where he can re new with the old carrier and the difference in premium would just be attained age. I know that loses you half your sale, but if this is an option it can open other doors for you with these two clients.
Good Luck

 

[term2u]

That will be an auto decline as a daily drinker with the DUI and completed AA is a no no. The only option I can think of is if the original policy may havw a guaranteed renewable rider option where he can re new with the old carrier and the difference in premium would just be attained age. I know that loses you half your sale, but if this is an option it can open other doors for you with these two clients.
Good Luck

Yeah, I was thinking the same thing and hoping that I could package it in a way that he was a craft beer enthusiast and very into the process, etc., but I don't think that will even work. He said he was court ordered to go to AA for 6wks/6 classes, which I thought was pretty typical for a DWI/DUI conviction?

Thanks for your input on the guaranteed renewable rider option, I can look into that. It's a real bummer as they're both currently paying ART premiums and I could save them a lot of $$ if there wasn't this pesky DWI/DUI - Should be a slam dunk...

 

[rousemark]

Yeah, I was thinking the same thing and hoping that I could package it in a way that he was a craft beer enthusiast and very into the process, etc., but I don't think that will even work. He said he was court ordered to go to AA for 6wks/6 classes, which I thought was pretty typical for a DWI/DUI conviction?

Thanks for your input on the guaranteed renewable rider option, I can look into that. It's a real bummer as they're both currently paying ART premiums and I could save them a lot of $$ if there wasn't this pesky DWI/DUI - Should be a slam dunk...

DUI is just pesky.. It is criminal. Kinda of like playing Russian Roulette with not only your own life but the lives of others.

 

[pfg1]

A couple years ago I had a case where 33yo client had a DWI 2yrs old. Talked to UW directly prior to submitting, explained the situation, they told me to submit cover letter with it and mention our conversation. I submitted basically as you said packaged it as no problems before/since, etc. Got STD NT. This was a whole life with Mutual Trust. My guy was healthy and had no other issues.
So it can be done... I would reach out to some companies that you work with and talk to underwriters and see what they say. I've had real good luck with doing that prior to submission on cases that are iffy.

 

[term2u]

A couple years ago I had a case where 33yo client had a DWI 2yrs old. Talked to UW directly prior to submitting, explained the situation, they told me to submit cover letter with it and mention our conversation. I submitted basically as you said packaged it as no problems before/since, etc. Got STD NT. This was a whole life with Mutual Trust. My guy was healthy and had no other issues. So it can be done... I would reach out to some companies that you work with and talk to underwriters and see what they say. I've had real good luck with doing that prior to submission on cases that are iffy.

Thank you - definitely great advice. I think what may really hurt my client is the fact that he still drinks 3-4 beers per day. It seems like the daily alcohol intake is still pretty excessive, which would probably be a decline. I was debating between Pru, Banner and Genworth, but at this point, who knows??

 

[pcbinsurance]

If he told you he drinks 3-4 a day, that means he probably drinks (at least) 6 or 7.

 

[TwiLight]

At the 3 year mark, Transamerica Term plans - Trendsetter LB and Express will look at Standard Rates for you.

Just got one through with a DUI at 3yrs 1 month and it sailed through.... Depends on Face amount.... Mine was $250k for a 45yo Female

There is hope in another year for a Standard Rate.

 

[term2u]

If he told you he drinks 3-4 a day, that means he probably drinks (at least) 6 or 7.

Haha, you're probably right... Although, this guy doesn't seem too with it to cover anything up, as he was very straightforward and not trying to sugarcoat anything. Not entirely sure though..

I did call Pru and spoke directly with an UW who said that he'd be anywhere from a non smoker plus to a table C.. Better than a decline, but I'm not holding my breath. I'll definitely keep you posted.

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At the 3 year mark, Transamerica Term plans - Trendsetter LB and Express will look at Standard Rates for you. Just got one through with a DUI at 3yrs 1 month and it sailed through.... Depends on Face amount.... Mine was $250k for a 45yo Female There is hope in another year for a Standard Rate.

Thanks! I'll definitely keep Trans in mind at the 3yr mark - good to know.. Was your woman also an avid drinker post DUI?

 

[term2u]

Thought I'd provide an update on this one.

We submitted to Pru and he was a DECLINE, due to his DUI and medical records. Will try again in a year or so. Thanks again for all of the advice.