- 6,142
204.09 is what SNL will be
Globe Life : Anybody Have the Rates ?
- Thread starter CALTCAgent
- Start date
- 8,448
I see there's not much difference in price between Continental and SNL. I'll have to dig deeper into the specifics of my Mother In Law's health.
My gut feeling is that she takes more than hypertension medication. But if not, I'll just pick the company that's easiest/fastest to license with, once I get a commitment from the daughter (my sis in law) that the premium will be paid.
We would not be in this predicament if my wife's family had taken my advice 20 years ago and purchased Whole Life, instead of the term that became unaffordable when she turned age 80.
My gut feeling is that she takes more than hypertension medication. But if not, I'll just pick the company that's easiest/fastest to license with, once I get a commitment from the daughter (my sis in law) that the premium will be paid.
We would not be in this predicament if my wife's family had taken my advice 20 years ago and purchased Whole Life, instead of the term that became unaffordable when she turned age 80.
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- 19,059
The rate with AmCon is not gonna change because of health. She can either get level coverage with them or no coverage.
- 8,448
Update 8-18-2015
As it stands now, my Sister-In-Law has decided to put her 88yo Mom on the guaranteed issue Globe Life plan. Believes my mother-in-law is going to die in 2 years, even though all she has is moderate dementia and hypertension.
I don't understand how a private insurer could/would offer G.I. $10K at $140 @ month life insurance for someone over age 80...even though it ends at age 90. That would attract everyone with genuine terminal illnesses, wouldn't it?
Thanks again to everyone for your advice and guidance!
ac
As it stands now, my Sister-In-Law has decided to put her 88yo Mom on the guaranteed issue Globe Life plan. Believes my mother-in-law is going to die in 2 years, even though all she has is moderate dementia and hypertension.
I don't understand how a private insurer could/would offer G.I. $10K at $140 @ month life insurance for someone over age 80...even though it ends at age 90. That would attract everyone with genuine terminal illnesses, wouldn't it?
Thanks again to everyone for your advice and guidance!
ac
- 19,059
Update 8-18-2015
As it stands now, my Sister-In-Law has decided to put her 88yo Mom on the guaranteed issue Globe Life plan. Believes my mother-in-law is going to die in 2 years, even though all she has is moderate dementia and hypertension.
I don't understand how a private insurer could/would offer G.I. $10K at $140 @ month life insurance for someone over age 80...even though it ends at age 90. That would attract everyone with genuine terminal illnesses, wouldn't it?
Thanks again to everyone for your advice and guidance!
ac
Your sister in law is an ***.
It will take 2 years for the policy to go into effect. Then it will end because she's 90.Why wouldn't an insurance company write that deal? Hell, I would write it for $10 less a month.
DWilly
Expert
Update 8-18-2015
As it stands now, my Sister-In-Law has decided to put her 88yo Mom on the guaranteed issue Globe Life plan. Believes my mother-in-law is going to die in 2 years, even though all she has is moderate dementia and hypertension.
I don't understand how a private insurer could/would offer G.I. $10K at $140 @ month life insurance for someone over age 80...even though it ends at age 90. That would attract everyone with genuine terminal illnesses, wouldn't it?
Thanks again to everyone for your advice and guidance!
ac
Your sister in law is an ***.
Why wouldn't an insurance company write that deal? Hell, I would write it for $10 less a month.
Your sister in law better use that free look period to read every single letter in that policy if she is definitely gonna take that route. As jdeasy said, she's just deciding to trow money away.
- 8,448
Your sister in law is an ***.
JDEasy, you're saying that even if a life policy has an "effective date", it's not legally in effect until 2 years after that effective date..even if the applicant was 100% truthful on the application? Seriously???
Well...that would explain why it's a guaranteed issue plan for an 88 year old, LOL.
- 19,059
It's ROP plus 7% for the first 2 years. That's why it's called "GI". Of course she's truthful on the application, there are no medical questions.
- 8,448
OK..got it. The Globe for an 88yo is nothing more than an interest bearing savings plan that vanishes after 2 years. The 7% is a high rate of return because most people outlive the plan.
I wonder what wording in the policy document states this? I'll need to point it out to the sis-in-law.
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- 6,995
I'll do it for $20 less than JD!
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