I found out yesterday that business life insurance isn’t always for what I would call work related purposes. I got a call from the founder, CEO and chief laborer of a company that films shark fishing. Interesting case because literally what the key man life insurance is for is to cover this young guy as the central and only important key person in his company, the guy that has to catch sharks and other large salt and fresh water fish for a living. It’s all catch and release for film and is one of the highest ranking fishing related posts on you tube. He’s also been featured on several major networks.
Someone had their thinking hat on when they chose to call Hinerman Group for life insurance on this case. Just in the first day I have received a range of quotes that makes it clear that not all life insurance underwriters appreciate the fact that he gets to fish for a living while others see it as no mortality risk at all. As for me I think I would be a bit offended if someone charged me a higher rate for life insurance for catching and releasing even big, toothy fish. If he wasn’t doing it for a living and wasn’t asking for business insurance there is no question that he could unflinchingly answer a dangerous hobby question NO. But from the life insurance quotes received so far it is obvious that he could have paid far more than he will need to if he had gone to the wrong agent who only represented one company or assumed that there would be no underwriting reaction from anyone and just randomly ended up with the wrong company.
I wonder how many times I’ve mentioned the damaging effects of haphazardly using the wrong life insurance agent who choose the wrong company? I’m not sure it’s a message that will ever lose relevance especially when you get into business or business executive and CEO life insurance where most, except for the 24 year old fisherman above, are over age 50, if not age 60, and the amounts of insurance are higher, up to $100 million or more. And when you talk about older clients and higher death benefits, even one rate class higher can be a train wreck. Being a leader in both impaired risk life insurance and business life insurance I shop every case, whether the CEO is perfectly healthy or has had prostate cancer. I won’t assume anything in my quest to get the very best offer on the table for a client, an appreciated business model when it saves time and money for a busy professional.
Bottom line. As I ponder how to become a fishing life insurance professional I’ll keep my day job and continue to offer the kind of service company leaders need and desire in their life insurance agent. I have the experience and expertise to handle virtually any health issue, can get business life insurance in place within just a few days, and have a large book of company executives and professionals like attorneys and physicians who can vouch for my ability to get the job done the first time. If you have questions or aren’t sure you have your business life insurance in the best hands, call or email me directly. My name is Ed Hinerman. Let’s talk.