Insurance Agent Forum

[al3]

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?

[TimLett]

Originally Posted by al3

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.

[moonlightandmargaritas]

Isn't this is what "unisex" rates are for?

[TimLett]

Originally Posted by al3

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.

[somarco]

policy gets re-rated?

Only if prompted by the insured.

[Winter]

Originally Posted by TimLett

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

[TimLett]

Originally Posted by Winter

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.

[tryan326]

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.

[Winter]

Originally Posted by TimLett

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.

Winter

[padthaiforlunch]

Originally Posted by TimLett

Return of Penis Rider.

Most guys just get divorced....

[Winter]

Originally Posted by padthaiforlunch

Most guys just get divorced....

I think that is covered under the dismemberment clause.

Winter