Tough Life Insurance Case - Any Ideas Out There???

TimLett · 11-20-2009, 04:02 PM

Here are details for a case on which I am working. Let me know if you have any ideas.

Female,
5' 1" , 115 - 120 lbs
18 months ago a lump showed up in a mamogram. It was a class 4 adenoma, simple. It was removed during a biopsy and a titanium chip was inserted where it had been. It turned out to be non-cancerous and the doctor said that the body would have absorbed it on its own.
Hysterectomy over 10 years ago due to prolapsed uterus. Not taking any hormones.
Suffered from postpartum thyroid issue over 10 years ago. Has been clean for over 10 years concerning this issue.
13 months ago was diagnosed with major depression. Had a Nervous Breakdown and attempted suicide via overdose. This came after the depression going untreated for at least 10 years. When she did go under a doctor's care for the condition, he kept raising her medication dosage when things would get worse for her. This proved to be counterproductive as was determined by a subsequent physician who got her on the right track with her prescription and dosage. During the course of this, she did have a Panic Attack and spent 4 days in ICU. Her treatment took a turn for the better after 6 weeks in a Georgia treatment facility. She is stable, by all indicators, now.
Current medications are Cymbalta @ 90mg per day; Buspar @ 15mg 3x per day; and Trileptal @ 150mg 2x per day.
She would like at least a $250,000 term policy with ROP.

dgoldenz · 11-20-2009, 04:07 PM

Had a Nervous Breakdown and attempted suicide via overdose.

That's going to be a deal-killer with any company. While it's probably not what you want to hear, you're wasting your time. I don't even know if one of the guaranteed-issue $25k max companies would give her coverage with that in her history.

BlueChairMan · 11-20-2009, 10:21 PM

Lots of meds there. We have guaranteed issue that will take her up. Has full ROP as well after 10 years. Be glad to help you.

magagent · 11-20-2009, 10:56 PM

Time to move on Mr. Lett.

TristanTLC · 11-20-2009, 11:13 PM

The meds is not a problem, the attempted suicide is. No one will take her for 250K, she is too high of a risk. Your best bet is to go on the FE side, or take a graded policy.

bluemarlin08 · 11-21-2009, 07:16 AM

Justa hint of suicide in doc notes can kill the deal, actual attempt is deny with everyone I represent. Spent some time recently on a case like this, Pru offere tbl b but she never tried suicide.

LGilmore · 11-21-2009, 12:49 PM

Yea, I don't see a policy in this person's future, at least not for a sizable length of time.

WinoBlues · 11-21-2009, 05:46 PM

I would guess at least 5 years out. Then with $ per thousand added for a couple years.

Originally Posted by LGilmore

Yea, I don't see a policy in this person's future, at least not for a sizable length of time.

NMFNMDRT · 11-23-2009, 11:05 PM

At this point I would be inclined to say, "Next."

daryllenriquez · 11-24-2009, 02:08 AM

Very complicated case I'd say. And like what everybody tells you, the suicide attempt history is a very negative indicator. Yes, that was before and she's stable now, but when you have a mental history like that, there's no assurance you won't go back there. People like this one react negatively to trigger situations, and the slightest things can trigger another suicide attempt when least expected.

IndyAgentIDTMY · 11-24-2009, 09:00 AM

I really don't see anyone else touching her with a ten-foot pole based upon all the issues mentioned above, especially for the amounts she is requesting.

That being said, you might be able to find a specialty risk underwriter make an offer, but there will be at least a 3 year exclusion period for any death other than accidental (maybe with ROP) and the premiums will be astronomical.

TimLett · 11-24-2009, 03:06 PM

Could you recommend a carrier that would be classified as a "specialty risk" carrier?

Thanks,
Tim

Originally Posted by IndyAgentIDTMY

I really don't see anyone else touching her with a ten-foot pole based upon all the issues mentioned above, especially for the amounts she is requesting.

That being said, you might be able to find a specialty risk underwriter make an offer, but there will be at least a 3 year exclusion period for any death other than accidental (maybe with ROP) and the premiums will be astronomical.

arnguy · 11-24-2009, 03:13 PM

Glad to see you back, Tim. Where have you been? Maybe Lloyd's of London would underwrite this case, but I believe the premium would be a whopper.

johndale · 11-28-2009, 10:29 PM

Well that's really tough. You have to proceed on your next list.

TimLett · 12-01-2009, 01:36 PM

Originally Posted by arnguy

Glad to see you back, Tim. Where have you been? Maybe Lloyd's of London would underwrite this case, but I believe the premium would be a whopper.

Hey, thanks for noticing I was gone for a while. Some medical issues knocked me out of the loop for a while. Still not back 100%, but hope to be within the next few months. Just trying to get back on my feet.

IndyAgentIDTMY · 12-01-2009, 02:11 PM

Tim,

I apologize for not getting back sooner. I've talked to a few parties and no dice thus far. I'll keep checking and report back if I find something.

Originally Posted by TimLett

Could you recommend a carrier that would be classified as a "specialty risk" carrier?

Thanks,
Tim

xrac · 02-01-2010, 12:27 PM

Originally Posted by TimLett

Hey, thanks for noticing I was gone for a while. Some medical issues knocked me out of the loop for a while. Still not back 100%, but hope to be within the next few months. Just trying to get back on my feet.

Sorry to hear that. Hope things are going better.