by Ed Hinerman | Jul 18, 2012 | assumptions, conversion, guarantee, insurance, life insurance, term insurance, universal life
I had a gentleman call me the other day to see what he could do about the mess his life insurance had ended up in. 10 years ago his agent converted his term insurance policy, at that time a Kemper policy and now a Protective Life policy. This man explained to the...
by Ed Hinerman | Jul 17, 2012 | guaranteed level premium, insurance, life insurance, long term guarantee, no lapse guarantee, term insurance, universal life
Not likely, but today ING Reliastar said they we discontinuing sales of the 25 and 30 year term products effective at the end of July. Probably the biggest impact this will have will be all of the mega agencies that have glommed on to ING because of the juicy...
by Ed Hinerman | Jul 16, 2012 | diabetes, impaired risk life insurance, insurance, life insurance, Type 1 diabetes, Type 2 diabetes
I feel like one of those people who puts tacks in a map every time they visit another state. I am literally sticking pins in the type 1 diabetes life insurance approval map and the number of areas where we are getting approvals is growing every few weeks. As covered...
by Ed Hinerman | Jul 12, 2012 | Biggest Loser, Fat March, insurance, life insurance, life insurance approval, mortality, mortality risk, obesity
There are several ways to deal with an out of control weight problem from a health standpoint, but from a life insurance point of view it’s pretty clear cut. If you are morbidly obese the best case is that you will have to pay more than the average person for...
by Ed Hinerman | Jul 11, 2012 | cash value, conversion, financial adviser, insurance, life insurance, mortality, term insurance, universal life, whole life
A few years back I read an article in a trade publication and, well, I was much younger then and easily riled. I am still getting comments on the post I wrote about that article. In the life insurance business there is an organization called the Million Dollar Round...
by Ed Hinerman | Jul 10, 2012 | cash value, conversion, insurance, life insurance, term insurance, universal life
Banner Life has and has had for some time the most competitive no lapse guarantee universal life products available. It has been a standout product in the industry because it not only guarantees a death benefit to age 121, but at no lapse UL prices it also has a cash...
by Ed Hinerman | Jul 4, 2012 | impaired risk life insurance, insurance, life insurance, life insurance approval, private pilots
Although the combination of affordable life insurance and private pilots has never been the norm across the scope of all life insurance companies, there hasn’t been a time in the last decade, almost two, where the match couldn’t be made with the right...
by Ed Hinerman | Jun 30, 2012 | basal cell carcinoma, cancer, insurance, life insurance, life insurance approval, melanoma, squamous cell carcinoma
With the majority of skin cancer being basal cell carcinoma and squamous cell carcinoma, both almost underwriting non issues unless there have been multiple instances, the challenge lies mostly under the melanoma heading. As I’ve stated with so many other types...
by Ed Hinerman | Jun 28, 2012 | cancer, insurance, life insurance, prostate cancer, PSA
A real show stopper in the life insurance application process is when a PSA comes back high, or at least elevated compared to previous PSA’s. This has turned into something of a fussing point since, in most cases, life insurance underwriters will postpone an...
by Ed Hinerman | Jun 26, 2012 | death benefit, incontestability, insurance, lapse, life insurance, life insurance claim process, reinstatement
With the possible exception of AARP, life insurance companies truly go out of their way to make sure every legitimate life insurance claim is paid and if the legitimacy of the claim is in a gray area, could really be seen both ways, they will almost always come down...
by Ed Hinerman | Jun 22, 2012 | AARP, beneficiary, cancer, contestability, contestability period, death benefit, insurance, life insurance, New York Life
Can you imagine how bored I would get if I couldn’t count on AARP to provide blog material on an absolutely continuous, unending basis? After all of the really awful things I’ve had to say about the AARP/New York Life insurance program over the years, my...
by Ed Hinerman | Jun 21, 2012 | accidental death, financial adviser, Independent agent, insurance, life insurance
According to the US Census bureau about 2.5 million people die every year in the United States. That’s from all causes and all ages. Assuming all days are equal that means that about 6850 people die every day in our country. This is going to get a little deep...
by Ed Hinerman | Jun 20, 2012 | Foreign National Life Insurance, foreign nationals, high net worth, insurance, life insurance, term insurance, whole life
I received an update on new foreign national life insurance underwriting guidelines today from one of the country’s largest life insurance companies. They announced a liberalization of requirements for Mexican and Canadian citizens. From past posts you would...
by Ed Hinerman | Jun 18, 2012 | Anxiety, bipolar, bipolar disorder, Depression, insurance, life insurance
Some years ago I had a client who really hit on a hot button for professionals like her as a physician and others who wore hats from CEO’s to attorneys, dentists and even psychiatrists. In the original case it had to do with a physician who had taken an anti...
by Ed Hinerman | Jun 12, 2012 | business life insurance, buy/sell life insurance, insurance, key man insurance, life insurance
The two things you can count on, death and taxes, right? Well, done correctly at least the two don’t need to be mixed. The Gold Nugget in life insurance death benefits has always been the fact that the proceeds are not income taxable. If you take out $500,000...
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