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I had a prospect ask me what happens to a life policy written on a male who has a sex-change operation and becomes a female(or ...


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Old 06-28-2008, 02:44 PM   #1
al3
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I had a prospect ask me what happens to a life policy written on a male who has a sex-change operation and becomes a female(or vice versa)? I researched on Google and found nothing. Anyone know if policy gets re-rated?
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Old 06-28-2008, 05:08 PM   #2
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TimLett on Re-rate after sex change? - Insurance Agent Forum
 
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Originally Posted by al3 View Post
I had a prospect ask me what happens to a life policy written on a male who has a sex-change operation and becomes a female(or vice versa)? I researched on Google and found nothing. Anyone know if policy gets re-rated?
Seems to me that the only right thing to do would be .....
To cut a little off.
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Old 06-28-2008, 06:11 PM   #3
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Isn't this is what "unisex" rates are for?
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Old 06-29-2008, 10:41 PM   #4
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Originally Posted by al3 View Post
I had a prospect ask me what happens to a life policy written on a male who has a sex-change operation and becomes a female(or vice versa)? I researched on Google and found nothing. Anyone know if policy gets re-rated?
This question again crossed my mind while out for a Sunday afternoon ride. And the thought occurred to me that his/her coverage just might......





...........come up a little short.



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Old 06-30-2008, 07:51 AM   #5
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policy gets re-rated?
Only if prompted by the insured.
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Old 06-30-2008, 10:03 AM   #6
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Originally Posted by TimLett View Post
This question again crossed my mind while out for a Sunday afternoon ride. And the thought occurred to me that his/her coverage just might......





...........come up a little short.



Not necessarily. The policy might have a Waiver of Penis rider.

Winter
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Old 06-30-2008, 05:21 PM   #7
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Originally Posted by Winter View Post
Not necessarily. The policy might have a Waiver of Penis rider.

Winter

I would think that the desired feature on a product for those (men) seeking a sex-change would be a .......




Return of Penis Rider.
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Old 06-30-2008, 05:56 PM   #8
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I would assume that it would be the same situation as if the client was already insured and got cancer,diabetes, or etc. They can't change the rates once your insured just b/c your health status changed. But they would probably have to request a name change if they've legally changed their name.
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Old 06-30-2008, 08:09 PM   #9
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Originally Posted by TimLett View Post
I would think that the desired feature on a product for those (men) seeking a sex-change would be a .......




Return of Penis Rider.

Yup, good thinking. I am sure that there are quite a few men who would sign up for that and then pray for the two year contestability period to end. You know the type of guy I am talking about. He signs up for the Return of Penis rider but never had one in the first place. It's guys like that that drive the rates up. Then when you ask clients if they want a Return of Penis rider, they just laugh at you.

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Old 07-02-2008, 02:41 AM   #10
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Originally Posted by TimLett View Post




Return of Penis Rider.
Most guys just get divorced....
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Old 07-02-2008, 06:47 AM   #11
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Originally Posted by padthaiforlunch View Post
Most guys just get divorced....
I think that is covered under the dismemberment clause.

Winter

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