Royal Arcanum Alzheimer's Day One Coverage?!?

[ALIG33]

An agent sold one of my clients an add on policy with Royal Acanum who is 63 years old with alzheimer's. When we called the agent he told the client over the phone that it was day 1 coverage!?

Can anyone inform me on this?

If this real? Or is this just another agent clean cheating?

The client asked the agent "does the insurance company know that I have alzheimer's?" And he said "yes".

Let me know if anyone knows what their underwriting is like and your thoughts

 

[goillini52]

An agent sold one of my clients an add on policy with Royal Acanum who is 63 years old with alzheimer's. When we called the agent he told the client over the phone that it was day 1 coverage!?

Can anyone inform me on this?

If this real? Or is this just another agent clean cheating?

The client asked the agent "does the insurance company know that I have alzheimer's?" And he said "yes".

Let me know if anyone knows what their underwriting is like and your thoughts

They'd probably prefer someone with Alzheimer's over a Mongolian(even though being a Mongolian no longer DQ's someone).

Welcome to the Royal Arcanum

http://www.royalarcanum.com/brochures/graded.general.2012.pdf Take a look at page 2. They have a graded that's almost GI. 0/50/75/100(ROP w/no interest 1st year).

I'd call the company, I think the agent fibbed.

 

[Cyborg7]

God bless god

God bless the USA

 

[FEX Quotes]

An agent sold one of my clients an add on policy with Royal Acanum who is 63 years old with alzheimer's. When we called the agent he told the client over the phone that it was day 1 coverage!?

Can anyone inform me on this?

If this real? Or is this just another agent clean cheating?

The client asked the agent "does the insurance company know that I have alzheimer's?" And he said "yes".

Let me know if anyone knows what their underwriting is like and your thoughts

With Royal Arcanum and alzheimers it's not a matter of clean sheeting. If the other agent indicated day 1 coverage, he/she flat out lied. The RA policy is technically a modified plan despite being marketed as a graded plan...

Year one - Return of Premium
Year two - 50% of face amount
Year three - 75% of face amount
Year four forward - 100% of face amount

* Lifted from FEX Quotes with permission

 

[Jack B]

They ask on app if diagnosed or taking meds for mental disorder, the questions on app are pretty vague, it doesn't mention the words Alzheimer's And they do not do prescription search.

 

[jacobtn]

does anyone know anything about this company? I personally have never heard of them. Does someone here have any experience in dealing with them?

 

[goillini52]

does anyone know anything about this company? I personally have never heard of them. Does someone here have any experience in dealing with them?

"The RA's membership requirements have varied over time. In the early stages of its existence it was confined to "acceptable" men between eighteen and fifty five years old. It also required its members to believe in a Supreme Being and state that "Mongolians, whether of pure or of mixed blood, no matter what they believe, are ineligible." These restrictions have been removed"

They've been around since 1877. I've never dealt with them, but anybody that hates Mongolians can't be all bad.