I’ve truly gotten a sense of what a love/hate relationship is all about with West Coast Life. They are, in so many areas, one of the best companies in the business for fair and flexible underwriting. I love that since most of my clients need above average underwriting.

On the other hand I am truly disgusted with their new conversion product that is only guaranteed 10 years. The whole idea of conversion is that it is the life raft that saves your rear when you become uninsurable. It offers you a way to keep life insurance in force on a permanent basis. It is the frosting on the term insurance cake that makes it work for so many and for West Coast to scrape the frosting off the cake and screw, yes screw their loyal customers is wrong on so many levels.

I had a client call today who wanted to convert her West Coast term insurance policy. She had a 20 year term and bought it 8 years ago. She is paying $77 a month for it. West Coast will convert that “without evidence of insurability” to a universal life policy that is guaranteed for 10 years for $260 per month. So she has 12 years at $77 or 10 years at $260. What bone brain thought that was a good way to structure their conversion program?

I’ve talked to people all up and down in the company and the excuses are just pathetic held up against the damage this can cause to their customers. It’s led me to warn term customers about the potential calamity down the road if they choose to go with West Coast Life or Protective Life, their parent company.

Bottom line. West Coast Life’s underwriting doesn’t suck, but if you stack them up against any other company out there with a conscience, well, they suck because they don’t have one.

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