Working In War Zones and Life Insurance

[0b1kanobee]

I have a relative who has approached me about purchasing a term life insurance policy. He often works in Afghanistan, Iraq, parts of Africa and China and apparently some of these places are considered "war zones" whether it be the entire country or parts of the country.

The work is for a company and he is not considered a contractor. I'm not sure if his work is considered hazardous either. He is in charge of safety actually for the workers in all respects like making sure they don't go in a hole without proper gear, use safe scaffold equipment and stay out of the way of cranes (wear heard hats and safety glasses....boots, ect.)

He is also a type 2 diabetic and it is controlled. He also takes a good lot of medications. His height weight is good far as I can tell.

So, is this guy insurable? If so, what carrier might be a good place to start? He is also 56 y.o. Wants a term for about 500k maybe more but 500 should work. We are thinking 15 to 20 year straight term. Might do a smaller whole life s well. Oh he is a smoker too if that matters for carrier. Oh and he said something about Neuropathy casue by the diabetes.

 

[VolAgent]

Before you spend another second. Ask how much is the most he'd pay to get this coverage. It better be a number north of $1,000 a month, otherwise move on or reduce the face amount.

Without even discussing table ratings, flat extras for the countries, a 20 year term for 500k for standard tobacco is going to be 650+ a month.

 

[0b1kanobee]

That's too much. I can tell you already. I would say $200 is the max. I don't need to ask him. I know him and the wife better than they know themselves. I handle their investments as well.

What can I get for around $200 a month?

 

[STIBROKER]

if he works in war zones nobody will touch him......

 

[0b1kanobee]

if he works in war zones nobody will touch him......

Isn't there an exclusion? I mean if he works in a war zone from time to time and just happens to die in his sleep, what's the difference where he dies in his sleep between here and there of natural causes?

 

[STIBROKER]

no........why do you think every app ask have you or do you plan on travailing outside the U.S..........

 

[VolAgent]

Isn't there an exclusion? I mean if he works in a war zone from time to time and just happens to die in his sleep, what's the difference where he dies in his sleep between here and there of natural causes?

I think there are a few companies that will. Pru comes to mind. Although, not sure how they treat diabetics. There is always Peterson's as well.

Honestly, you don't have a prospect. With his budget, I don't think you'll be able to find something he'll buy. Even 100k 20 year term is going to be around 150/mo, just at standard tobacco.

 

[0b1kanobee]

no........why do you think every app ask have you or do you plan on travailing outside the U.S..........

I don't know? Their must be other questions then like if you answer yes the question then I would think. I don't look at many life apps. Do they all ask this? I'll have to look at Monumental life app. He wants a small WL too and I have one of those apps around here somewhere to check for that question not that I'll use them but I need to see if that question is on there.

Volagent seems to think he could get coverage for a large premium amount. You are saying nobody will touch him.
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Honestly, you don't have a prospect. With his budget, I don't think you'll be able to find something he'll buy. Even 100k 20 year term is going to be around 150/mo, just at standard tobacco.

He'll buy whatever I tell him. He knows I wouldn't offer him anything which wouldn't be worth it. It is what it is. If I can only get 150k then that is what he will get.

He makes plenty of money while he is working. Problem is work can be hit and miss. I don't want them dishing out a burden bill. They are already supporting two adult children and a grandchild. Couple more years and if he still qualifies he can get more. In the meantime they need to decide when to cut the ambellacle (spelling) cord with these adult kids.

Just let me figure out price. I need some companies who will take this guy is all.

 

[VolAgent]

I don't know? Their must be other questions then like if you answer yes the question then I would think. I don't look at many life apps. Do they all ask this? I'll have to look at Monumental life app. He wants a small WL too and I have one of those apps around here somewhere to check for that question not that I'll use them but I need to see if that question is on there.

Volagent seems to think he could get coverage for a large premium amount. You are saying nobody will touch him.
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He'll buy whatever I tell him. He knows I wouldn't offer him anything which wouldn't be worth it. It is what it is. If I can only get 150k then that is what he will get.

I'm not saying he can get coverage. I'm just telling you what standard would be.

He's got a lot against him. When it gets done, if he gets an offer, its going to be 300/mo for 100k. And that is if they'll even make an offer. Don't misunderstand what I'm saying. I was just giving you some number so you'd realize how unlikely it is.

If money is no object, you can always get coverage. But with his situation and budget, its unlikely you'll find something for him.

 

[dgoldenz]

A smoking diabetic with complications of diabetes (neuropathy) working in war zones isn't a very good candidate from an underwriter's standpoint. You really need to shop the case to see if he can qualify for anything fully underwritten before putting in a formal app. He'd be lucky to get $100k of 20-year term for $200/mo.