Client who Drinks 4-5 Days Per Week?

[insurance1822]

Hello,

I have a client (who is also an acquaintance) and I know he drinks 4-5 days per week. He wants to apply for life insurance (new wife just got pregnant) & I'm wondering if that amount of drinking would screw up his blood tests? Would it be better for him to just go simplified issue somewhere? If he applies w/ me for a term policy & gets declined because his enzymes were messed up...would that ruin his chances for simplified issue somewhere? Would that level of drinking really "mess up" his liver enzymes?

 

[WinoBlues]

Hello,

I have a client (who is also an acquaintance) and I know he drinks 4-5 days per week. He wants to apply for life insurance (new wife just got pregnant) & I'm wondering if that amount of drinking would screw up his blood tests? Would it be better for him to just go simplified issue somewhere? If he applies w/ me for a term policy & gets declined because his enzymes were messed up...would that ruin his chances for simplified issue somewhere? Would that level of drinking really "mess up" his liver enzymes?

Drinks 1 glass of wine with dinner. Or slams a 12 pack of Old Milwaukee a night. Kinda makes a difference. Same with face amount. $50,000 or $5,000,000.00?

There are some pretty competitive Non Med plans out there. Not so much on SITerm.

 

[bill3173]

If you know that he's drinking more than a couple of drinks per day, you may want to do simplified issue.

I've had people tell me the "drinks with dinner" thing before, and they get postponed or declined due to elevated liver enzymes. Not judging, if he's married, heavy drinking is probably necessary.

 

[Josh]

If you know that he's drinking more than a couple of drinks per day, you may want to do simplified issue.

I've had people tell me the "drinks with dinner" thing before, and they get postponed or declined due to elevated liver enzymes. Not judging, if he's married, heavy drinking is probably necessary.

*New* wife that's *pregnant* too.

Depending on his age and such, there are a number of excellent non-med products out there. No reason you can't get him into something like that and then take a look at more competitively priced products down the road.

 

[insurance1822]

*New* wife that's *pregnant* too.

Depending on his age and such, there are a number of excellent non-med products out there. No reason you can't get him into something like that and then take a look at more competitively priced products down the road.

And what are those non-med options? How much of a difference in pricing do you see compared to fully underwritten term policies?

 

[Josh]

And what are those non-med options? How much of a difference in pricing do you see compared to fully underwritten term policies?

If you go to term4sale.com you can get a better feel for it, but it's usually not overly expensive. Assurity has a good non-med product that takes you all the way to $350k. They're not the least expensive plan, but they are competitively priced. Fidelity also has some good product.

What the non-med does is strips away some of the underwriting process and basically says if it meets at least XYZ, then they'll write it as "standard" or they may have other ratings, what it's really doing is rating everyone in that pull at a table rating of 2-4 (that's what Assurity told me theirs were at) and just assumes some bad risk is in with some good risk, but it's all at least reasonably good risk.