by Ed Hinerman | Oct 20, 2009 | insurance, life insurance
We got a preferred rate approval on a client today. This is a client who had come to me after feeling, well, jerked around and lied to by Selectquote. The Selectquote agent who worked with this client was all about banging out an approval and moving on to the next...
by Ed Hinerman | Oct 19, 2009 | conversion, insurance, life insurance, West Coast Life
A little over a week ago I wrote a post about my email conversation with West Coast Life concerning their decision to do away with fully guaranteed conversion products. I was a bit put off when I got an out of the office email from the marketing vice president...
by Ed Hinerman | Oct 16, 2009 | insurance, life insurance, life settlements
Life settlements, for the life insurance industry, is kind of like when you’ve been whacked in the face and it hurts, but the swelling and discoloration of the black eye hasn’t shown up yet. Life settlements or viatical sales of life insurance policies has...
by Ed Hinerman | Oct 15, 2009 | heart attack, high blood pressure, insurance, life insurance
Sometimes when I ask the medical questions that are part of the first interview with prospective life insurance clients I get the feeling that I should have gone through them twice, or three times. Each time I should say something like, “Now when I go through...
by Ed Hinerman | Oct 14, 2009 | cholesterol, insurance, life insurance
Ahh, the less than perfect approval on your life insurance application. The temptation to take your bat and ball and go home and never play again. The desire to get back back at the company by not purchasing life insurance and not providing protection for your family....
by Ed Hinerman | Oct 14, 2009 | family history, insurance, life insurance
There used to be a lot of companies that had published crediting systems that they would use to determine the final underwriting outcome of a life insurance application. Credits could be earned by anything from exceptional, as opposed to just satisfactory, lab...
by Ed Hinerman | Oct 13, 2009 | insurance, life insurance
I am working with a client on two life insurance policies totaling over $10 million in death benefit and when we conferred with his accountant today on ownership questions I ran into a refreshing attitude. I have voiced my opinion more than once in this forum...
by Ed Hinerman | Oct 12, 2009 | bipolar disorder, insurance, life insurance
I recently came across a new underwriting twist that would apply primarily to mood disorders such as chronic depression and bipolar disorder, viewing a medication change as a negative event. No doubt there are times when a medication change does accompany a downward...
by Ed Hinerman | Oct 9, 2009 | guarantee, insurance, life insurance, universal life
At a time when large financial institutions seem to be all about blatantly bilking their customers, as in Wells Fargo just announcing a 3% increase in already stupid high credit card rates, life insurance companies continue to act innocent in the face of evidence that...
by Ed Hinerman | Oct 8, 2009 | conversion, guarantee, insurance, life insurance
I am and always will be all about guarantees in life insurance. The job it is purchased for is simply far to important to leave up to the whims of the economy or the company. In the absence of contractually guaranteed rates, the company has the right to change your...
by Ed Hinerman | Oct 6, 2009 | estate taxes, insurance, life insurance
As we crash toward the end of the year and one of the wackiest decades in a while, accountants for the high net worth and famous are all armed with the same good advice. 2010 is a good year to die, at least so far. What started in 2001 as one of the best tax code...
by Ed Hinerman | Oct 5, 2009 | arrythmia, insurance, life insurance
We’ve talked on a number of occasions about the dreaded abnormal ekg and how doctors and underwriters can have completely different takes on the abnormality, and actually both of them be right, I came across one of the best and most humorous explanations of the...
by Ed Hinerman | Oct 1, 2009 | cholesterol, insurance, life insurance
You’re applying for life insurance and they just sucked your blood and made you pee in a cup. You deserve to know what they know and there is no better way to do that than to request a copy of your labs. I have long like the proactive approach that West Coast...
by Ed Hinerman | Sep 30, 2009 | insurance, life insurance, Met Life
I got this email just recently: Hi Mr. Hinerman: I have been reading your blog for some time. Just curious, why do I never see MetLife, my company, among your quotes? If you haven’t checked us out in a while you might want to try. Our rating guide for CAD has...
by Ed Hinerman | Sep 29, 2009 | insurance, life insurance, term insurance
We see it all the time. A young man dies in a car accident or from cancer, a totally unexpected event and an event that rips the roof right off of the life of the young wife and children he has left behind. He never considered life insurance. Life at that point seems...
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