Those of you who have read this journey with me know that it has been a decidedly unfriendly trip since, almost two years ago now, the first life insurance companies said they were ready to entertain the underwriting of traditional life insurance for well controlled HIV+ clients. Compared to the few chances that clients and I have been able to celebrate life insurance going in force, it seems like bazillions of clients and myself have been wounded, bloodied and humiliated with alarmingly dumb ass excuses from companies.
The most recent humiliation was whipped upon us by Prudential when they did a press release and sent emails to every agent appointed by them to sell life insurance announcing that they had done six years research and were now ready to jump right into the HIV+ life insurance business. Prudential, The Rock, a name you can trust! We were finally over the hump of companies that were so scared of what they were proposing to do that they set their retention limit at zero and gave the entire burden to reinsurance. That’s the true mark of a woosey life insurance company when they will sell something and won’t retain any risk or profit.
But then came Pru. Having a backlog of clients waiting for a real company I picked out a few and sent applications in. A few days later Prudential back pedaled and I was sure we were headed the wrong way down another train tunnel and in a lot of ways we were. They said they didn’t mean to email ALL of the agents. The product, underwriting and program was proprietary to a large Brokerage General Agency called Crump and was not available for lowly independent agents like me unless we were contracted with Crump. Not that I would ever bad mouth anyone for any reason, but I gave Crump a chance to process my business quite some time ago. I would rather have a hot stick poked in my eye than go there again. Pru did say they would process the two applications I had sent, but no more until, if and when, they opened the program up more widely. And they did and we had two more approvals for HIV+ life insurance and then they shut the door.
But yesterday, an even bigger name in the life insurance business opened the door and now, darn it, we have enough players in the game and sort of in the game that we have options. The most recent player has the most money and the best prices of anyone so far. And a life insurance limit higher than the others at $2 million, and they will do either term or permanent.
Bottom line. Game on for those who qualify. Let’s get er done. If you don’t qualify or can’t understand the qualifying criteria, don’t call or email me. If you don’t know if you meet the criteria in all likelihood you don’t, but rather than ask me, take them to your doctor and ask him. For those who qualify and have questions or need quotes, call or email me directly. My name is Ed Hinerman. Let’s talk.