Life Insurance on Probation

[mwpuck01]

Hey, i am in Kentucky and looking for help with a client trying to get her insured. She is looking for 100k of term insurance but is on probation until november, can any of you help her out?

 

[Robert Barney]

I'm guessing it would have a lot to do with what the original crime was.

 

[TampaHound]

If it was a felony then your looking at a least a year or two after that for a Standard rate...assuming she qualifies in other ways.

Depends on the crime, did she serve time, how long probation was, etc. If drug and/or alcohol related is she in some sort of program?

Let me know.

 

[mwpuck01]

3 years ago was for her own medicine without being in prescription bottle, no time but did rehab and isn't monitored anymore but has passed every drug test she has been given. Probation is up in November and she's working and just had a baby 4 months ago.

 

[LGilmore]

Rehab will be 5-7 years down the line on average. Sorry you really don't have a prospect, you have somebody who wants coverage because they can't get it. Happens a lot.

 

[aclaro]

Carriers will consider 2-3 years after rehab depending on specific circumstances. Have to be off probation at a minimum due to penalties for violating probation. Specifics on the reason for probation would determine if they needed more time after being off probation.

 

[JohnBR]

Did you try an accidental policy?

 

[ShriramLife]

Nice information

Thank you

 

[Robert Barney]

By the way, I love this thread title, and it makes we wonder why the life insurance was sent to jail.

Her crime is something that could have a serious impact on her life expectancy, and I would doubt that she could even get an accidental policy, in that her risk of accidental death due to use of an illegal medication would seem greater than average.

Or maybe I'm ignorant again.

Can pilots, who would otherwise be rated, get accidental policies at standard rates?

 

[The Benefit Coach]

By the way, I love this thread title, and it makes we wonder why the life insurance was sent to jail.

Her crime is something that could have a serious impact on her life expectancy, and I would doubt that she could even get an accidental policy, in that her risk of accidental death to use of a medication would seem greater than average.

Or maybe I'm ignorant again.

Can pilots, who would otherwise be rated, get accidental policies at standard rates?

Accident/Accidental Death policies generally aren't underwritten, but the carriers address adverse selection through exclusions. Example; all the ones that I've seen have exclusions for death in the course of committing a felony, intoxication, or under the influence of narcotics unless administered by a medical professional.

As for pilots, They can probably get a policy without any problems, but again you better take a close look at the exclusions. There's a good chance that it excludes flying in any capacity other than as a passenger on a scheduled airline.

I'm not a big fan of AD&D policies as there are just too many "outs" for the insurance company to deny a claim. There's a reason why it's so cheap.