I just got off the phone with a 71 year old gentleman that called because he agreed with some post I had written about final expense life insurance companies. He said his only health issue was well controlled blood pressure and, oh yah, he was about 50 pounds overweight and, oh yah, his family made him monitor his blood sugar but that wasn’t a problem because it was always between 120 and 150. Not bad for his age he said.
Then he threw the curve ball at me. His previous policy had lapsed so he didn’t have any coverage and he needed to get some in force in the next five days. When asked what was happening in five days he said that he needed to get his blood pressure med prescription renewed and his doctor wouldn’t do it without his bi annual labs. He was afraid if he did those labs something might show up that would cause him to get declined for life insurance. So he wanted me to snatch a policy out of the instant universe and have it in force before he did labs. Oh, and he had an application pending but he didn’t want to move ahead with that because they have a good health statement he would have to sign on delivery saying asking whether he had seen a doctor since he applied.
I explained to him that if he went through me we could get better products and likely an approval at better prices but that would start with an application, exam and a review of his medical records and, a good health statement on delivery. He reworded his need to beat the five day thing about ten times and tried to make it sound like I was misleading people in my blog posts if I couldn’t game the system and make it happen for him. That’s where phone calls end for me. If you step over the line of asking me to participate in gaming anything, I am no longer your resource.
I had a young 30 something lady call me three times about life insurance. Each time she would have several good questions and then go to asking what would happen if she didn’t mention a health issue and they didn’t catch in during underwriting. She was trying to get me to say that, as long as that misrepresentation held during the two year contestability period, all was good after that. I told her I couldn’t be any part of that, helping her to game the system in hopes that she would be protected by the incontestability clause. She kept insisting that we go down that avenue and I ended up telling her to never call back.
People with less than perfect health have to pay more for their life insurance than those who are in perfect health. I pay more than I want to, but I pay a fair rate given my background. I’m very good at getting the best possible rate given whatever impairment or health issue a person has, but it won’t always be preferred plus rates and I absolutely refuse to work on behalf of anyone that would lie or game the system.
Bottom line. Maybe you don’t like insurance companies and you think they are the ones playing games, They do make a profit. They have to. But they are the ones willing to write the check for hundreds of thousands, if not hundreds of millions of dollars if you die so they deserve your honesty, completely and totally. If that isn’t your plan then I am not the person you want to have help you. If you have had trouble getting life insurance approved and at a fair rate, call or email me directly. My name is Ed Hinerman. Let’s talk. Don’t call me if you’re not willing to be straight up about everything.