Need Help with Term Life Case

[Seniorgirl411]

Got a 42yr old male that takes meds for seizures looking for a term up to 100k. What's a good company to use that would possibly issue? Best company with the best rates? Don't write a lot of term policies so not sure who is the best right now. He's in IN and non smoker. Thanks.

 

[lqdirect01]

What meds? What kinds of seizures? Frequency of seizures? Date of diagnosis? Date of last seizure?

 

[pcbinsurance]

Wow Rishi, long time no see. Don't be a stranger.

 

[Stevekobrin]

If the seizures are due to a fairly commonplace medical condition, and he is stable, the universe of carriers is pretty broad. Once you get your hands around the case, you will be able to fine-tune the carrier selection.

If the seizures are due to an unusual condition, or if they are due to a common condition but are severe, or if the situation is not well-controlled, then your choice of carriers will reduce fairly quickly.

Prequalify your clients with your distributor and make sure you zero in on carriers that have a high degree of comfort with neurological risks.

By the way: be open to a universal life product in which you can dial-in the guarantee. You might get underwriting leniency on this product that you won’t get with term.

 

[Seniorgirl411]

If the seizures are due to a fairly commonplace medical condition, and he is stable, the universe of carriers is pretty broad. Once you get your hands around the case, you will be able to fine-tune the carrier selection.

If the seizures are due to an unusual condition, or if they are due to a common condition but are severe, or if the situation is not well-controlled, then your choice of carriers will reduce fairly quickly.

Prequalify your clients with your distributor and make sure you zero in on carriers that have a high degree of comfort with neurological risks.

By the way: be open to a universal life product in which you can dial-in the guarantee. You might get underwriting leniency on this product that you won’t get with term.

He has a brain tumor that is stable and no new growth since 2010. He takes the meds because he could potentially have partial seizures due to that. He doesn't have cancer and is very active and exercises.

 

[GreenSky]

It's been 6 weeks since he wanted life insurance. How serious a buyer could he be?

Rick

 

[scagnt83]

It's been 6 weeks since he wanted life insurance. How serious a buyer could he be?

Rick

For life insurance, they could be very serious. It is a different mindset vs. MedSups.
A Limra study once showed that the average term life buyer does not make a buying decision until an average of 3-6 weeks after initially speaking with an agent.

I have a LTCI client who asked me about LI 5 weeks ago. I emailed her quotes and followed up twice, but she has just been "too busy" to talk it over with the husband and make a decision. She just called me this morning asking if I could meet to take apps later this week. So it will be about 6 weeks on the dot when I take the apps.

People see an immediate need for HI. They do not see an immediate need for LI... if they do they are probably uninsurable! lol

 

[Seniorgirl411]

It's been 6 weeks since he wanted life insurance. How serious a buyer could he be?

Rick

It's my husband and I've been looking into it. I looked at Mutual of Omaha, but they asked if he's ever been treated for cancer. They did treatments in 2010 as a precautionary measure. No new growth since then and he takes meds for seizures as precautionary too. He's active and works out. He's a non smoker. Just need some companies to look into and names of the products if you have them. Thanks.

 

[Big Stick]

The best option is to meet with an insurance broker. Brokers put themselves in position to have the best companies available that offer a full spectrum of options based on health.

Professionals go to great lengths to help their clients the best they can. That's how they succeed long term. They are not out to take advantage of you. They wouldn't be in the business long if that was the case. Much of their success depends on client referrals.

You're far better off spending your energy shopping for a broker that you want to work with. You'll end up in a MUCH better position.

If you're thinking a broker is just another middleman, that is not the case. Insurance policy prices are guaranteed to be the same no matter how you acquire it. Actually, that's the law.

The services a broker can offer you are countless. Never mind making sure you get the exact policy you are looking for. The brokers goal is simply to make you a satisfied client for life. And that's at NO ADDITIONAL COST to you.

It's smart to shop. The best way to go about it is to shop for a broker you like so he/she can shop for the very best policy for you.

 

[WinoBlues]

It's my husband and I've been looking into it. I looked at Mutual of Omaha, but they asked if he's ever been treated for cancer. They did treatments in 2010 as a precautionary measure. No new growth since then and he takes meds for seizures as precautionary too. He's active and works out. He's a non smoker. Just need some companies to look into and names of the products if you have them. Thanks.

I am guessing you are not a life agent so are my 2 cents. Contact a brokerage like Pinney that has an in house underwriter. Give them all the details including a cancer questionnaire. They will guide you. Then get contracted through them so that you can write your husbands policy. Easy Speasy

You get your husband covered, you get paid, you learn more about writing life insurance. Wining!