DUI and Life Insurance

[2112Greg]

Will anyone write life for a 30yo male with no health issues or anything without an astronomical rate up? The DUI happened about 8 months ago. I just got off the phone with West Coast Life and they would write him, but it'd be $7.50 per $1,000 on top of the base premium.

That's a complete deal-breaker for him.

Anyone run into this before? This is a first for me...

 

[LGilmore]

Chances are he will be spending his disposable income on extra auto premiums. Sorry he may not be a viable prospect. I would look at a couple of the majors, not the cheapest premium providers. The low ballers can't take that kind of risk on. Try pru or someone in that vien. But this might be one that doesn't happen for you. Good luck though.

 

[2112Greg]

Oh, I hadn't even thought about what has happened to his car insurance. Yea, it looks like I'm gonna let this one go. Shame, he's a good guy with a young daughter. I'll write his health coverage in a few months though...just wish I could help him on his life because at 30 years, it's so cheap...(when there is no DUI involved!).

Thanks for the good wishes...

 

[LGilmore]

Unfortunately the guy's in for a wake up call about how insurance treats dui's. If he as a preferred auto carrier they may not renew him or raise his rates so high that he can't afford em and has to look around.

It's the attaboy/awsh...it lesson in life. You can have a thousand attaboys built up. One Awshi..it wipes them all away.

I pounded into my kids this simple thought about that kind of f'up in life. It isn't the instance that's the real problem, it's the afterwards.

 

[djs]

A single DUI isn't terrible in insurance. Get an older car, liability only, you'll survive the rates (at least if I'm doing your coverage). The classes and work program are the annoying things.

Get a second DUI (or a third) and then you are making me happy on my commission check. Oh yeah, I've got a few of these types of clients.

The nice thing for the agent is that these policies rarely lapse. It becomes part of life because as soon as the insurance lapses, your license is suspended, and you are back to square one.

 

[SportsNut]

A single DUI isn't terrible in insurance. Get an older car, liability only, you'll survive the rates (at least if I'm doing your coverage). The classes and work program are the annoying things.

Get a second DUI (or a third) and then you are making me happy on my commission check. Oh yeah, I've got a few of these types of clients.

The nice thing for the agent is that these policies rarely lapse. It becomes part of life because as soon as the insurance lapses, your license is suspended, and you are back to square one.

And that has "WHAT" to do with the original question of "LIFE INS" and who will write it w/o a monumental rate-up...?

 

[Mark]

Will anyone write life for a 30yo male with no health issues or anything without an astronomical rate up? The DUI happened about 8 months ago. I just got off the phone with West Coast Life and they would write him, but it'd be $7.50 per $1,000 on top of the base premium.

That's a complete deal-breaker for him.

Anyone run into this before? This is a first for me...

I would jump on the West Coast offer and pay the flat extra. Most companies make you wait 5 years after having a dui, before they will over you anything other then a graded death benefit.

 

[SportsNut]

Will anyone write life for a 30yo male with no health issues or anything without an astronomical rate up? The DUI happened about 8 months ago. I just got off the phone with West Coast Life and they would write him, but it'd be $7.50 per $1,000 on top of the base premium.

That's a complete deal-breaker for him.

Anyone run into this before? This is a first for me...

What this means is, a 30yo with a history of drinking while driving has a 3 or 4 times better chance of dying than one who theoretically drives without drinking. Hence, more risk, more premium.

I agree with the other assessment... if the client wants life insurance he should jump on the offer and later you may be able to find him a better offer.

 

[jdeasy]

Will anyone write life for a 30yo male with no health issues or anything without an astronomical rate up? The DUI happened about 8 months ago. I just got off the phone with West Coast Life and they would write him, but it'd be $7.50 per $1,000 on top of the base premium.

That's a complete deal-breaker for him.

Anyone run into this before? This is a first for me...

Lincoln Heritage will write him on their preferred whole life or their 10 year term up to $100,000.

For the 100,000 whole life, the premium would be about $130/mo

For the 10 year term, it would be $75/mo for $100,000

They do ask about a DUI in the last 5 years, but, they don't decline or rate because of it.

 

[Drewrilla]

Assuming no other driving criticisms and no alcohol issues, Prudential could offer standard non-smoker one full year from the DUI. Wait a few months and re-apply with them. I believe everyone else will have a flat extra for at least 2 years out.